BANKRUPTCY AFFAIRS.

New Zealand Herald, Volume XLVI, Issue 14110, 12 July 1909, Page 6

BANKRUPTCY AFFAIRS.

ESTATES WITH SURPLUSES.

The statement of Augustus Lipsoy, of Te Aroha, who has recently filed his petition in bankruptcy, shows unsecured liabilities totalling £1245, the principal creditors being William Dibeell, of Auckland (£908), and P. Baine, of Tc Aroha (£194). The assets are set down at £3340, of which landed interests represent £3200, and cash £140. There is thus an estimated surplus of £2094. The bankrupt states : — " I attribute my failure to unlucky speculation, and the exorbitant rate of interest charged by some of my creditors." A meeting of creditors is called for Wednesday next.

In the bankrupt estate of Richard Henry Shaw, dairyman, of Rotorua, the secured liabilities amount to £491, whilst the asset# are shown in the statement at £713, of which amount tho estimated value of bankrupts estate in his leasehold farm is responsible for £600. There is thus an estimated surplus of £221. The sum of £220 is owing to a secured creditor, the value of the security being stated at £270. The principal unsecured creditors are J. and J. Dalbeth, of Rotorua, to whom £560 is owing. The debtor states that in 1906 he agreed to buy out Dalbeth Bros-, at Rotorua, as dairymen, and he purchased their cattle and farm material for £420 aiid the goodwill of the milk business for £100. He paid £100 on account. Various disputes appear to have arisen between himself and Messrs. Dalbeth, the result of which, ho says, was his decision, to file his schedule. A meeting of creditors will be held at Rotorua on Monday next.