BANKRUPT FARMERS.

New Zealand Herald, Volume LIX, Issue 18016, 15 February 1922, Page 8

BANKRUPT FARMERS.

A FAILURE AT WAITOA. [BY TELEGRAPH.—OWN CORRESPONDED'

HAMILTON. Tuesday.

At a meeting of creditors in the bankrupt estate of Arthur Hookey and Frederick William Hookey, farmers, of Waitoa, secured creditors were given as £22,376, while assets were estimated at £21,866, comprising land and stock. Bankrupts stated that prior to September, 1918, they had no'difficulty in meeting their obligations. They were "hit" by the 1918 epidemic, and owing to a party who had promised help financially, making his terms unreasonable, they had to find the deposit for the purchase of the property themselves. They did this by giving a mortgage over stock. They had difficulties over other land negotiations, and eventually found it impossible to carry on, ano had to file.

Mr. Gillies, for five Taranaki creditors, said ho would like to have a meeting in Taranaki.

Mr. Sanson, deputy official assignee, said if the official assignee considered any breaches of the Bankruptcy Act had occurred, it would bo his duty to investigate them. The meeting did not pass a resolution, and the matter is one for the official assignee to decide as to whether any breaches had been committed.