BANKRUPTS AFFAIRS

New Zealand Herald, Volume LXIX, Issue 21314, 15 October 1932, Page 12 (Supplement)

BANKRUPTS AFFAIRS

EX-SHIPOWNER EXAMINED RUM-RUNNING DENIED ESTATE SHOWS A SURPLUS Questions about rum-running were asked at tho Liverpool Bankruptcy Court lately when Arthur Fielding, aged 43, a former ship-owner, appeared for public examination. It was stated that he had cash in hand of £1713 and liabilities of only £483. In all, his estate showed a surplus of £1249.' Fielding had been made bankrupt, it was stated, on a creditor's petition, and ho agreed, in answer to his counsel, that he had acted foolishly in putting obstacles in the way of paying certain liabilities following an unsuccessful legal action. He had felt, however, that he had not been treated very fairly. Questioned, Fielding asserted that he had not been engaged in illicit liquor traffic or rum-running, either in America or in the Mediterranean. He said that his baptismal name was Bentley, but having been brought up by a family named Fielding, ho adopted their name. As a young man ho spent soino time in Australia, and on his return to Britain in 1915 was worth about £2OOO, which ho gave to his wife before their marriage. Between 1923 and 1930, said Fielding, he was engaged in tho coasting trade, and at one time or another owned five vessels. Of these, two were stranded, two went pshore, and ono was sold. Three of tho four wrecked were insured. After he retired from the coasting trade the capital of his wife and himself had Increased to £3OOO through speculation in currency. He bought a coal business at Crosby for £625, and, being dissatisfied, began an action against tho vendor, who was now the petitioning creditor, alleging fraudulent misrepresentation. Judgment was given against him with costs. Those costs and his own solicitor's costs comprised his debts. Following tho trial, continued Fielding, he began to liquidate his assets until in May last he had over £I7OO in cash. When the receiving order was made he failed to appear at Court for examination. Ho unsuccessfully endeavoured to get. away by boat from Garston, and then went to Manchester. Eventually, said Fielding, he thought ho would get things cleared up, and came to Liverpool with £IOOO in bank notes, which he deposited with his trustee to satisfy creditors' claims. He was, however, arrested for having failed to attend Court and lodged in gaol. It was in prison that ho prepared a statement of affaire, and he was released on undertaking to attend for public examination. The registrar closed the examination.