FARMER'S BANKRUPTCY.
NOMINAL SURPLUS SHOWN. [BY TELEGRAPH. —OWN CORRESPONDENT.] HAMILTON. Monday. ; A Maori named Harry Paul, farmer, of Te Kowhai, has been adjudged bankrupt. A statement has been submitted to the effect that'bankrupt entered into an agreement to purchase a leasehold property of 569 acres, at Whangamata. He understood he was paying £409. He learnt later that the title had not been completed, and that the purchase price was £745. When a summons was issued against him for costs and disbursements ho confessed judgment. Bankrupt said he owned a- property at Te Kowhai, but this was heavily mortgaged. Bankrupt considered he had ample assets to cover his liabilities, and all he asked for was a little time. Assets' shown to total £2503, and liabilities, £1225, leaving a nominal surplus of £1280.
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Bibliographic details
New Zealand Herald, Volume LX, Issue 18519, 2 October 1923, Page 5
Word Count
131FARMER'S BANKRUPTCY. New Zealand Herald, Volume LX, Issue 18519, 2 October 1923, Page 5
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