COUNT GOES BANKRUPT.

New Zealand Herald, Volume LI, Issue 15769, 18 November 1914, Page 5

COUNT GOES BANKRUPT.

RESULT OF REDUCED ALLOWANCE.

| A petition in bankruptcy has been filed by Count Rene de Montaign, gentleman, of Rotorua. Bankrupt's sworn statement shows that the total debts amount to £825 10s 7d, owing to unsecured creditors. Certain creditors are secured to the extent of £550, and the estimated value of securities is £1900. Assets are set down at : £1350, being the surplus from securities ' :in the hands of secured creditors. There ' is shown a surplus in the estate of £524 j 9s sd. I In stating his causes of bankruptcy, bankrupt says that he has been in receipt of an allowance of £68 per month from his father, which, on the outbreak of war, was reduced to £40. In consequence of : this, and of the war making it impossible ' . for his father W> send him an advance ! against his patrimony as he expected, he was obliged to call his creditors together. , He then with his creditors to J pay their trustees £15 per month, and on | receipt of the advance referred to, to liqui-' : date the balance then unpaid. He duly • paid the instalment as arranged, but the 1 mortgagee and the trustees of the credii tors sold the larger part of his effects. Last Friday he was asked by a representative of the creditors to sign his petition in bankruptcy. The first meeting of creditors will' be held at Rotorua on November 24, at 2 p.m. A petition in bankruptcy has also been filed by Honi Taiapua, otherwise known as George Tait, aboriginal native, of Rotorua. , The first meeting of creditors will be held i at Rotorua on November 24, at 4 p.m.