A MISSING BANKRUPT.

New Zealand Herald, Volume LIX, Issue 18158, 2 August 1922, Page 9

A MISSING BANKRUPT.

BAKER AT WHAKATANE,

DEFICIENCY ABOUT £800.

WIFE CARRYING ON BUSINESS. The disappearance of the bankrupt was reported to th® creditors in 6he estate of Ferdinand Oswald, bakor, of Whakatare, at a meeting held yesterday in the office of the official atieignee, Mr. W. S. Fisher. Mr. J. C. Entrican presided in the absence of Mr. Fisher. No schedule or statement had beeu filed by the bankrupt. It was stated by creditors that the bankrupt had started a small bakery business in Whakataue about 18 months ago but, experiencing financial difficulties, disappeared. He told his wife he would not come back, and no trace could be found of him. According to information p'aced before the meeting, bankrupt owed £1217 to unsecured creditors and over £800 to secured creditors. His assets amounted to about £400, which included cash in hand, £110; stock, £150: book debts, £80; plant. £38. Equity on the property was not included. The deficiency of assets ovar liabilities to unsecured creditors was estimated to be about £800. The bankrupt's wife, in agreement with the creditors, it was stated, was now carrying on the business abandoned by her husband, and payments for goods supplied to customers were paid over to the creditor*. The meeting terminated when one of the creditors acrreed to make an offer to pnrchns? the business. A committee comprising the three l largest creditors was Rpr>ointisd to confer with the official acsisrnee as to the best means of realising the estate in the possible event of a hitch occurring.