BUILDER'S BANKRUPTCY.
REALISATION OF ASSETS.
AN UNCOMPLETED BUILDING
An adjourned meeting of creditors in the estate of Daniel Carline (Mr. Mow. bray), builder, of Auckland, was held yesterday, the official assignee, Mr. W. S Fisher, presiding over an attendance of about 18.
Mr. Fisher stated that the claims against the estate amounted to £2300, of which £66 was owed for preferential wages. Discussion ranged round the question of realising on a property in St. George'it Bay Road—a section of land and an in completed building erected by the bankrupt. Various estimates were given oil the cost of completing the building. Tak ing the highest estimate it was agreed that a sale of the completed property would realise a dividend of between 2s and 3s in the £. If a lower estimate was taken, amounting to about £400, a dividend of about 5s in the £ might be expected. It was stated that the only other assets amounted to about £34.
A committee of three was appointed to inspect the property, and authority was given to make arrangements for the completion of the building should the committee see fit.
A motion was carried ordering an investigation of the bankrupt's books and accounts by a qualified accountant.
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Bibliographic details
New Zealand Herald, Volume LIX, Issue 18170, 16 August 1922, Page 6
Word Count
203BUILDER'S BANKRUPTCY. New Zealand Herald, Volume LIX, Issue 18170, 16 August 1922, Page 6
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