FARMER'S BANKRUPTCY.

New Zealand Herald, Volume LX, Issue 18556, 14 November 1923, Page 10

FARMER'S BANKRUPTCY.

EX-SOLDIER'S LOSSES.

CREDITORS NOT SATISFIED.

[BT TELEGRAPH.— OWN CORKESHOMUNT.] HAMILTON. Tuesday

A meeting of creditors in. v the bankrupt estate of Peter Robert Peterson, farmer, of Kiwitahi, was held before the deputy official assignee. In his filed statement bankrupt, whose schedule showed a nominal surplus, said he and another exsoldier bought an unimproved section near Morrinsville, hoping to be able to dispose of it at a profit after they had bought it. After they had effected considerable improvements and erected a house on the and a slump set in, and they were forced to surrender the place in order to cut their losses, each . losing something like £350 on the deal. Since then bankrupt had been unable to meet current expenses, and had been gradually going back. He had received certain loans from his father, who, however, did not intend to claim on the estate. The creditors passed a resolution authorising the deputy official assignee to oppose an application for discharge on the grounds .of alleged apathy shown by bankrupt generally in regard to his affairs, if such application were made within 12 months.