FISHERMAN'S BANKRUPTCY.

New Zealand Herald, Volume LIV, Issue 16600, 25 July 1917, Page 5

FISHERMAN'S BANKRUPTCY.

CONDITIONS IN MANUKAU.

The first meeting of creditors in the bankrupt estate of JohnU. Grupen, fisherman, Onehunga, was held yesterday afternoon, the official assignee, Mr. W. S. Fisher, presiding. Four creditors were present.

Bankrupt's schedule showed unsecured debts totalling £169 13s 6d. There were no assets.

In explaining the causes of his failure, bankrupt stated that he started business at Onehunga eight years ago. and had been fairly successful until the trawlers came into the Manukau Harbour, about two years ago. They had practically killed his means of livelihood, there being no market for his fish. He had a launch, but this was owned by his wife. He had been laid up nine months with a poisoned finger, and this put him back with his accounts. One of his creditors had had him arrested for debt, and this had forced him to file. He could make no offer to his creditors.

One creditor said that he considered that the shop had paid handsomelv. Bankrupt had said nothing about the shop takings. Bankrupt said that the shop had not paid since his son went to the war. The shop was run by his wife, and if she could get £75 for it she was willing that this amount should be divided among his creditors. After some discussion it was decided to adjourn the meeting sine die, on the understanding that bankrupt and his wife should meet the creditors in the wav suggested.