Fishmonger Files Petition in Bankruptcy

Manawatu Times, Volume 60, Issue 276, 22 November 1935, Page 11

Fishmonger Files Petition in Bankruptcy

MEETING- OF CREDITORS HELD Before the Deputy Official Assignee (Mr. P. C. Litchfield) a meeting of creditors in the bankrupt estato of Ivan Pi vac, fishmonger, of Hamilton, and formerly of Palmerston North, was held this week. There were also present, in addition to bankrupt and his solicitor (Mr. T. F. Belling), Mr. L. G. 11. Sinclair, representing Mrs. Dixon, and Mr. T. M. N. Rodgers, representing Napier Fisheries Co., Ltd. In his personal statement bankrupt stated that in March, 1931, with a partner, Joseph Lettica, he had started business iu Broadway as a restaurant proprietor. He had put £2OO into the business and his partner about £l6O. The business had been purchased for £3OO, which was paid. It had been necessary to renovate the shop and to purchaso crockery and cutlery, etc. After about nine months tno partnership had been dissolved and bankrupt had bought Lettica ? s interest for £2OO cash. At that time he had put a further £SO into the business to get more stock and to pay accounts. He had over £450 in cash before going into the business and had then no debts. The business had paid its way up to the end of 1931. The depression had then become worse and the business had fallen away. He had kept paying as much as ho could but could not live and .pay all he owed. He had a family of six children, three being born in Palmerston North. Business had improved a little last March, but about Juno three other new fish shops had started and his trade had dwindled. He had tried to-sell but was unable to do so; He had got behind'in the rent and rates and the 'landlord had put in the bailiff. He now had a job on wages at about £3 per week in Hamilton, but could not make any offer to his creditors as he had no money and no property. The financial statement showed that assets had been estimated at £IBO, stock and fittings being set down at £l4O and the furniture at his home at £40.: . The amount duo to unsecured creditors was £557 ss. 2d, leaving a deficiency of £377 5s 2d. Local creditors affected were:—City Council, £B7 0s 8d; Afrs. D. Dixon, £9S; W. H. Boon, £l6; J. B. Jenkinson, £24 6s 3d; Boniface Bros., £2 Ss ;4d; E. P. Bee, 18s; Dominion Auctioneering. Co., £ll Is Id; Manawatu Meat Co., £5 0s 9d; W. A Kyle, £1 12s Gd; Orchards, Ltd., £2 Os 3d; J. L. Bennett, Ltd., £1 9s 3d; C. Gray, £5 12s Gd; G. C. Hastings, £4 17s Gd; E. B. Jennings, £4S; Barnao Bros., £2 3s Gd; J. D. Jakich,' £10; P. W. Pullyn, £1 10s; J. R. Wood, Ltd., £2 10 s; Wrs. Will and Alitcheli, £8 Ss; Dr. Peach, £5 ss; Dr. Durward, £1 Is. '

The D.O.A. reported that the assets had been over-estimated, the shop fittings having brought only £SS 3s Sd and the homo furniture, £7 15s.

In reply to Air. Sinclair, bankrupt explained that he had not yet started in his new position in Hamilton, but expected to receive a wage of about, £3. There was littlo prospect of his finding a better job. T’ho meeting was then adjourned sine die. .