TWICE BANKRUPT
MILLIONAIRES SON. COULDN’T LIVE ON £20,000 A YEAR. (Rec. 8.15 p.m.) 'London, October 14. “I am aghast that a gentleman could not live on £20,000 a year,” said Judge Harington in refusing James John Joicey a discharge from bankruptcy. Evidence showed that Joicey was the son of a millionaire who was careful to leave no money to his son in his will. Joicey became bankrupt in 1909, his liabilities being £195,000. He paid 4/4 in the £. He had now failed for £453,000 and paid 1/6 in the £. Joicey’s mother gave bankrupt £300,000 between the bankruptcies, but Joicey spent big sums on jewellery. He was also in the clutches of money-lenders who received £lOO,OOO in interest alone. The Judge suspended the discharge for five years, describing the debtor as hopelessly extravagant and simple.—A. & N.Z.
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Bibliographic details
Southland Times, Issue 20002, 16 October 1926, Page 7
Word Count
135TWICE BANKRUPT Southland Times, Issue 20002, 16 October 1926, Page 7
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