BANKRUPT ESTATE

Otago Daily Times, Issue 22910, 18 June 1936, Page 6

BANKRUPT ESTATE

MOTOR MECHANICS AFFAIRS A • meeting of the creditors in the bankrupt estate of Joseph Thomas Woolley, motor mechanic, of Concord, was held in the Supreme Court Buildings before the official assignee (Mr J. M. Adam) yesterday. The bankrupt was represented by Mr C. J.' L. White. The total liabilities were £232 13s Od, and the assets nil. The principal unsecured creditors were as follows: —11. B. Whitely, £160; W. A. Bracegirdle, £54 17s 6d; Allan Campbell, £7 13s 6d. There were no secured creditors. BANKRUPT’S STATEMENT. In his sworn statement the bankrupt stated that he was a married man, 43 years of age, with three children. In June, 1927, he was involved in a motor accident and as a result he was in hospital for some mouths. He was sued by Mr Bracegirdle for damages to the car in the accident, and judgment had been entered against him. He returned to his employment as a motor mechanic, but on account of poor health he was unable to continue. After that he worked in Invercargill, where he was able only to make ends meet, and, later, at Knrow, on the Public Works. At the end of 1930 he was on relief work in Oamaru for some months. At the end of 1931 he went to Heriot and took over a garage. This did n.ot pay, and he had to borrow money from his brother-in-law to pay the debts. He sold out and returned to Dunedin with no money and no prospects of work, and was unemployed for two years with a wife and two children to support. Part of the time he was canvassing and part of the time he was on relief work. Two years ago he had / obtained work with the New Zealand Refrigerating Company, Ltd., in- which employment he had remained until recently. At present be was earning £4 a week and had a wife and three children to keep. For the past two years he had tried to get ahead financially, but, on account of medical expenses and the special feeding required for the children, he had a great struggle and had been unable to meet his debts. The continued pressure by creditors had compelled him to file in bankruptcy. He had no assets and could make no offer to his creditors. ASSIGNEE’S EX AM IN ATION. In the course of examination by the assignee, the bankrupt, staled that Mr Bracegirdle had obtained judgment against him in 1928 for £55 and costs. The money borrowed from his brother-in-law was to pay off debts on the garage at Heriot. No one was bolding any money for him, and bis house furnishings were the property of his wile. At present he was paying Lis a week rent. To Mr Campbell’s statement that (be debt owing to him was the a mount of j a dishonoured cheque, the bankrupt ex- j plained that he had a bank account at | one time, and when he issued this particular cheque he had recently paid in some other cheques, but these, had been dishonoured. Campbell’s cheque had been made out before he was aware of this. He had some money still owing to him from the time he conducted (ho garage, and this matter was in the hands of a solicitor at Heriot. Bankrupt stated that he was not in the habit of spending money on liquor. To Mr White: Ho had issued the cheque to Mr Campbell in good faith, believing that it would be met on presentation. The assignee stilted that., on the statement submitted, which there was no reason to doubt, it was clear that the bankrupt could do nothing at the present time. Further, since there was not

a quorum of creditors present, uo resolution could be passed. The matter would have to stand over, and in the meantime the position at Hcriot would be investigated.