BANKRUPT BUILDER

New Zealand Herald, Volume LXVI, Issue 20303, 10 July 1929, Page 9

BANKRUPT BUILDER

NO OFFER TO CREDITORS.

AN EFFORT TO PAY URGED.

Dissatisfaction with bankrupt's position was expressed at a meeting of creditors of David Lithgow Jackson, builder, held at. the oflice of the official assignee yesterday. Bankrupt's debts amounted to £lß4l, there being no assets. In a statement bankrupt said he commenced building in 1927. Jlo lost approximately £3OOO on house exchanges. During tho past six months ho had paid £6OO in cash to creditors, some of this money being supplied by his wife. l*'or tho past nine months his wifo had been carrying out her own building work. Bankrupt stated he did yot file in September as he thought he would bo able lo carry through. He had incurred no debts since then.

Bankrupt was questioned regarding properties belonging to his wife, lie said Mrs. Jackson was doing cvorythipg possible to try and clear up matters, but she was unable to help him at the present time.' Ho was working on wages and could make no offer to creditors at present. "Tho assets arc nil and tho liabilities aro heavy; it is not ii very satisfactory position for creditors," remarked one creditor.

"Tho position is not very satisfactory, to say tho least," said Mr. V. R. Crowhurst, deputy-official assignee, who presided. "Bankrupt states lie has paid £llOO to creditors during the past 18 months, hut this has not been paid pro rata. Had he filed lie would have been able to pay more equitably." • Mr. Jordan, who appeared for bankrupt, said bankrupt would at that time have been unable to pay anything. Mr. Crowhurst said bankrupt would have lo make sonic effort to meet his liabilities before a discharge would be agreed to. Bankrupt was instructed to report to the ollicial assignee within three months in order that his position might be reviewed.