AFTER FORTY YEARS

New Zealand Herald, Volume LXXIII, Issue 22352, 25 February 1936, Page 5

AFTER FORTY YEARS

BANKRUPT PAYS DEBTS ACCUMULATION OF INTEREST [fbom our owy correspondent] LONDON, Jan. 25 A man who became bankrupt 40 rears ago last week handed to the official receiver at Pontypridd County Court,' Glamorgan, a cheque for £6OO to pay his debts and interest. He was Sir. Arthur Frederick Summers, now * builder, living in Birmingham, and be became bankrupt while carrying on a business at Pontypridd. Mr. Lester Lewis, Pontypridd, who represented him, explained that Summers, when making application for discharge at a previous Court, was prepared to pay his debts amounting to £312, He .had not anticipated, however, that the accumulated interest would amount to the additional and formidable sum of £499. Judge Clark Williams stated that as Summers became a bankrupt 40 years ago some of the debts would probably have lapsed. Summers gave an undertaking to pay any balance that was required provided that, he was not called upon to do go until a year had elapsed. He was granted his discharge.