BANKRUPT TRAINER

New Zealand Herald, Volume LXX, Issue 21426, 25 February 1933, Page 7

BANKRUPT TRAINER

DISCHARGE NOT GRANTED OPPOSITION BY CREDITORS [FROM OUR OWN CORRESPONDENT] Hamilton, Friday Application for his discharge fyom bankruptcy was made by George Alben Reid (Mr. Gilchrist), horse trainer, of Te Aroha, before Mr. Justice Smith in the Hamilton Supreme Court to-day. The application was opposed by a group of creditors, who were represented by Mr. Carroll.

In explanation of the circumstances which had led bankrupt to file, Mr. Gilchrist said he had experienced a run of bad luck in his business.

Mr. Carroll said that prior to filing bankrupt had been training a string of horses from which the weekly fees were £42. No books had been kept and it was impossible to tell where the money he received had been spent. The creditors were convinced that bankrupt had not been playing the game. His Honor said that it was in bankrupt's favour that a dividend of 4s lid in the pound had been declared. However, there was the statement by the ofT.cial assignee that the bankrupt had kept no proper books. For this reason it had not been possible to discover how his income was spent. Also, the creditors had taken a strong view of the'matter. The application for discharge was dismissed.