BANKRUPT CHINESE.

New Zealand Herald, Volume LXV, Issue 19892, 10 March 1928, Page 13

BANKRUPT CHINESE.

NOTHING FOR CREDITORS.

FAILURE OF CAFE BUSINESS

Armed with « large black trunk, containing records of his business dealings written in Chinese, Willie Shacktie, until recently a restaurant proprietor, met his creditors in bankruptcy at the office of the official assignee, Sir. G. N. Morris, yesterday. "It would cost a bit of money to do anything with these books," said Mr. Morris.

"But you cannot complain that he has not kept books," commented a creditor. "Oh, no," replied Mr. Morris. "He seems to have Oeqp honest enough."

Debts to unsecured creditors were shown as £431. There was one secured creditor to whom £240, covered by a bill of sale for that amount, was owing. No assets were shown. A cafe business in Hobson Street was purchased by the bankrupt and a partner, Charley Wong Sun, in June, 1922, lor £525, according to Shacktai's statement. They carried on for two years at a loss, and then sold out for £l4O. The partners later opened dining rooms in Wyndham Street, removing subsequently to Albert Street. Everything went well until 1925,. but the two following years were bad. They got into debt and had to vacate the premises in 1927. All the furniture was sold and the proceeds went in expenses, some being attached by the Court. Bankrupt said he was now working in a market garden at Pukekohe. He and other Chinese had given a bill-of-sale for £240 over farm implements, horses, cart and vegetables' to Wong Doo, a Chinese mercnant, of Auckland. "I wish to pay my creditors, but I cannot do so at present," said the bankrupt. "1 account for my bankruptcy solely through the hard times of the last two years."

After taking the oath on the Bible, the bankrupt amplified his statement. He said he had sent what money he could spare to support his wife and two children in China. *

"I think Wong Sun ought, to pay some of the debts," said the assignee. "He has been in all these businesses except Pukekohe. X do not know whether creditors think it worth while to make him file."

The opinion was expressed, that Shack - tai had been straightforward in his dealings, and the meeting adjourned without the passing of a resolution.