BANKRUPT CRITICISED.

New Zealand Herald, Volume LXIV, Issue 19738, 10 September 1927, Page 12

BANKRUPT CRITICISED.

" UTTERLY IRRESPONSIBLE." STRAWBERRY-GROWER FAILS. MARRIAGE FIVE WEEKS AGO. "Tins us 0110 of those cases in which a man who has obtained easy finance on good faith lets you down and makes it difficult, for better men to get money," said a creditor at a meeting yesterday 111 the bankrupt estate of John Iv. Browne, strawberry grower, Norlhcote. The official assignee, Mr. G. N. Morris, presided. The schedule showed unsecured debts as £l4l 3s 7d. There wero no assets. In his statement he said ho started as a strawberry grower at Northcote in May, 1926, being financed by a wholesale firm to grow 30,000 plants. By December last his account with the firm had grown to £l6O to £l7O, and ho also incurred a debt of £53 to another firm. He considerably reduced his debts, but later bad weather gave him a reverse and lie eventually decided to sell out to a business acquaintance, who was to take • over a liability of £3OO then owing to the first firm, lie attributed his failure to adverse weather conditions and to pressure by his creditors. In reply to questions, bankrupt said that when ho started strawberry-growing he had no assets and owed about £SO He was married about five weeks ago The Official Assignee: Did you not think it worth while to consult your creditors when you sold out your busi ness ?—Bankrupt replied he had not thought it necessary, as the principal creditor had "a kind of hire-purchase agreement" with him. Have you any assets, any furniture'! — My wife has bought some on a hirepurchase agreement. And I suppose the payments are coming out of your wages ?—1 suppose so. The Official Assignee: There seems to be a bright chance of your creditors getting anything. After bankrupt had been further examined, the official assignee stated he thought him utterly irresponsible He believed he had had some misfortune, but he was not satisfied with the way he had treated the second firm which had financed him. He might at least have ■consulted them before putting his only asset out of their reach. The meeting was adjourned sine die.