STOREKEEPER'S FAILURE.
ADJUDICATED A BANKRUPT.
An application for the adjudication as bankrupt of A. A. Cowan, storekeeper, of Ellerslie, was heard by Mr. Justice Stringer at a. bankruptcy sitting of the Supreme Court yesterday. Mr. Bagnall, on behalf of the -four major creditors, applied for an order of adjudication, which was opposed by Mr. Anderson, on behalf of the remaining creditors. Mr. Anderson stated that a deed of assignment in favour of all the creditors had been executed, and he contended that it was for creditors' benefit that the estate should be administered under the deed instead .of : in bankruptcy. Mr. Bagnjlll said that Cowan's trading had showed a loss of ' over £2000 in 16 months, and he submitted that' it was a matter for investigation by the official assignee.-. ' His Honor, in issuing an order of adjudication, said that Cowan had borrowed £1000 in January, 1924, although his position 'must have then ibeen apparent: The four major creditors were entitled to facilities for a full investigation. ■ •■'.
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Bibliographic details
New Zealand Herald, Volume LXI, Issue 18713, 20 May 1924, Page 5
Word Count
167STOREKEEPER'S FAILURE. New Zealand Herald, Volume LXI, Issue 18713, 20 May 1924, Page 5
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