FORTY-YEAR-OLD DEBTS

Otago Daily Times, Issue 22825, 9 March 1936, Page 10

FORTY-YEAR-OLD DEBTS

A man who became bankrupt 40 years ago recently handed to the Official Receiver at Pontypridd County Court, Glamorgan, a cheque for £6OO to pay his debts and interest. He was Mr Arthur Frederick Summers, now a builder, of Birmingham, and he became bankrupt while carrying on 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 so until a year had elapsed. He was granted his discharge.