CREDITORS DISSATISFIED.

New Zealand Herald, Volume LX, Issue 18335, 27 February 1923, Page 8

CREDITORS DISSATISFIED.

CARPENTER'S BANKRUPTCY. FORMER BUILDING CONTRACTS. [BY TELEGRAPH.—OWN CORRESPONDENT.] HAMILTON, Monday. Dissatisfaction was expressed by his creditors this morning with the conduct of Alec Cook, carpenter, of Frankton Junction, a . bankrupt. The occasion was a meeting of the creditors ,in the estate held before Mr. V. H. Sanson, deputyofficial assignee. In his statement, the debtor said that he was a builder and contractor, -and commenced business four years ago. He secured a fair amount of work, and after completing two or three jobs he started on one for a Mr. Green. The work was to build stables and a blacksmith's shop at, Frankton. The contract price was £*45, but this practically covered only material and labour. The primary cause of his present position was the alleged refusal of Mr. Green to pay.. Since 1920 he had been working on wages as a carpenter. Mr. Tompkins, representing the bankrupt, said that it seemed to him that Cook had not been a methodical business man. In building the house for Air. Green he had attempted something a little beyond him. ' It was quite possible he added that Mr. Green could be obliged to pay the estate the money which Cook stated was still due to him. The deputy assignee said that he was of the opinion that bankrupt had incurred dobts with very little prospects of paying them. Mr. Tompkins stated that the majority of builders when they commenced a job did not have enough money to pay . for the material they were using. They relied on progress payments to meet their obligations.* ' It was decided that the deputy assignee should be asked to lay the facts of the case before the Crown Solicitor with a view to prosecution, the'creditors ex- . pressing their dissatisfaction at the gen- [ eral conduct of the bankrupt.