CHINESE BANKRUPT.
A HOPELESS TANGLE.
ESTIMATED DEFICIENCY, £1950.
[r.T ra.r.oßArn— press association*.]
Wellington, Tuesday. A mt-ettvo of creditors in the bankrupt estate of Chung Tack, a Chinese fruiterer, who has provided only the second Chinese
■ bankruptcy in Wellington in eight years, i showed that the affairs of the estate were in a hopeless tangle. Liabilities to Chinese and Eurn|>ean merchant* were £2261 17s. and asset* wero £437 (including Chinese medicines. £205 16s sd), so that there was an estimated deficiency of £1930 12s ! 7d.
The official assignee stated that there was no doubt that tho bankrupt had been pnrchasirg goods just prior to the bankruptcy and selling them to fellow countrymen. Unless a buyer was found for the medicine, it would be absolutely worthless.
One creditor pressed for a public examination of bankrupt. the meeting adjourned sine die. Separate tenders are to be called for the medicine and other stock, and am investigation of the books will be made through an interpreter.
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Bibliographic details
New Zealand Herald, Volume LI, Issue 15548, 4 March 1914, Page 11
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162CHINESE BANKRUPT. New Zealand Herald, Volume LI, Issue 15548, 4 March 1914, Page 11
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