STATEMENT BY BANKRUPT.

New Zealand Herald, Volume LXVI, Issue 20407, 8 November 1929, Page 17

STATEMENT BY BANKRUPT.

CREDITOR'S OBJECTION. MILK ROUND ENTERPRISE. Objection to the written statement submitted by bankrupt was raised hy counsel for the petitioning creditor at a meeting held yesterday in the bankrupt estate of William Henry Johns, dairyman, of Kingsland. The official assignee, Mr. A. W. Wntters, presided. Bankrupt's schedule showed a nominal surplus of £277. The sum of £ll6 was owed to unsecured creditors. The total value of the assets was £393, of which £378 represented the surplus from securities. In his statement bankrupt said that last May he purchased a milk-round together with a motor-truck and took over the lease of a house and land for a year. ITe agreed to take from the vendor all the milk required by him, which was not provided bv his own cows. Heavy expenses were incurred in respect of Ihe truck, and legal action against the vendor resulted in additional expense's. He alleged that he had been charged unduly, and that he had not been credited with certain payments. Bankrupt attributed his failure to the initial expenses being heavier than ho anticipated. Prior to the reading of the statement, Mr. Mackay, who appeared for the petitioning creditor, said that many misstatements were made about his client. He characterised the statement as "highly libellous." Given the, opportunity to reply later, Mr. Mackay referred to some of the allegations made against, his client. Bankrupt purchased a good milk business and made a hopeless mess of it," he said. "He is now trying to blame a woman who helped him as much as she could." Replying to the assignee, bankrupt said that lie had had no experience of milkrounds, and had been unemployed before taking over the business. His wife had owned a small business at Point Chevalier. Recently he made a trip to England but returned as a certain proposition did not appeal to him.* Another creditor said that, lie knew bankrupt to he a hard-working man who only needed the opportunity to make a success of (he business. The meeting was adjourned to enable the. assignee to investigate bankrupt s assets. Bankrupt was advised by the assignee to carry on with his business in the meantime.