BANKRUPT CHINESE

Otago Daily Times, Issue 22823, 6 March 1936, Page 4

BANKRUPT CHINESE

MEETING OF CREDITORS A meeting of creditors in the bankrupt estate of Charlie Lor, a Chinese employed as a fruiterer's assistant at Mosgiel, was held yesterday before the official assignee (Mr J. M. Adam). The amount owing to unsecured creditors was £390 14s 4d, and the only asset was £2 cash in hand, leaving a deficiency of £394 14s 4d. The unsecured creditors were:—Edward O'Fee, taxi proprietor, Moegiel, £4O; J. Dick, fruiterer, Dunedin, £22 10s; Young Jim, gardener, Mosgiel, £4O; Muirhead and Son, Ltd., Mosgiel, £ls 0s 5(1; George Wong, fruiterer, £278 17s Hd. In a statement submitted to the assignee, bankrupt stated that he was horn in China, and had bi>en in New Zealand about 10 years. During most of that time he had been engaged in the fruit business and had been in a fruit shop at Mosgiel with George Wong for about two years and a-lialf. About six months ago lie had borrowed money fiom a friend and started in business on his own account. A summons had then been issued by George Wong, claiming £3OO from him. He had confessed

judgment and a short time later, under a distress warrant, his stock, etc., had been seized. Ho could not carry on and the business had been taken over by the friend who had lent him the money, and he had since been employed in the shop at a small wage. An order of committal had been made in respect to the judgment referred to, and he then filed. He had no assets and his indebtedness amounted to £394. In addition to thia, he understood that George Wong considered that he had a further claim for £3OO for which he had not yet made any claim. If given an opportunity bankrupt considered that he might be able to make some small payments to his creditors in the future, but was unable at present to make any offer. He was married and had three children, who were dependent on him for their support. Questioned by the official assignee, bankrupt stated that the money owing to Joe Dick and Young Jim was loan money. Of the £4O owing to Edward O'Fee £35 was loan money and the other £5 was taxi hire. The official assignee said that as there was not a quorum present no action could be taken by the meeting.