MEETING OF CREDITORS.

Stratford Evening Post, Volume LVIV, Issue 11, 15 October 1926, Page 6

MEETING OF CREDITORS.

BANKRUPT CHINESE FRUITERER. The meeting of creditors in the bankrupt estate of Tse Kai Fai and Co.. which had been adjourned in order that Fai's partner, Ho, might l>e present, was held this aftermum when Mr J. S. S. Medley, deputy official assignee, presided. Mr Medley announced that lie had not been able to trace Ho, whose whereabouts were unknown. He also stated that the sum of £llsvivas now in hand but out oi that :• preferential claim for rent amounting to £42 would have to be paid. Mr Rpbinson, :-eproije-.Vjing a creditor said a public examination was required whatever the cost as if was necessary to make an example. There were too many of these cases. Three of these bankruptcies had occurred quite, recently' and there was a possibility of another. All bine a certain similarity and it was necessary to take steps to-stop-such bankruptcies. In man V ; cases w goods were bought, and paid i for at the; start which a" "0 business men .the impression tli-v were K ood customer,-;. Then aecomi unre run; up" !or larw i quantities <- v l goods which j- wore { not , paid for. I . / Kai, in answer to 'Mr [Robinson,! said he did not know where Ho was. Mr Robinson, asking what steps could be taken to find Ho. said that if he were a white man he would soon be found. The position was unsatisfactory. and what would happen was that Chinese dealer-, would have to pay for their goods before they got them. It was tintortinnatc,; as there were many of the old 'Cii'iiia'men ; . were >quite good payers. .The speaker said'he had tried to get the fruit agents to come together an. each enter into a bond of £IOO not to supply goods to those Chinese who were not approved. Anyone breaking his agreement would forfeit his bond. However, he could not get his suggestion put into practice. " Fai denied that he was a gambler and also that he bad been in New I Plymouth on Thursday. Ho had put ' £SO into the business and witness. ' £6O Mr Robinson: It is hardly fair i n 'make this man pay the penalty a t\j\ let the other go free. Mr Medley: The police can't ra id him. The meeting was thou adjourned sine die.