NOT SATISFIED

Sun (Auckland), Volume III, Issue 750, 24 August 1929, Page 13

NOT SATISFIED

BANKRUPT BUILDER FAILS TO CONVINCE FULL STATEMENT WANTED

‘‘l am not satisfied with the way in which you have answered my questions, and it is evident that you have not satisfied your creditors that your business dealings over the past three years have been done on a proper footing,” said the official assignee to Clarence William Bruce, builder, of Edendale, who met his creditors for the second time yesterday. A meeting of creditors was held last month, which was adjourned until today, when bankrupt was instructed to procure a detailed statement of his receipts and expenditure during the past three years. A total amount of £28,230 was stated to be owing to secured creditors, the value of securities being estimated at £28.160. There were no unsecured creditors. Assets were valued at £25, leaving a total deficiency of £45. “I consider that you have deliberately not kept a full record of accounts. and that you have ignored the official assignee’s request to give the necessary statements at this meeting,” said Mr. E. L. Thwaites, acting for a creditor, when bankrupt failed to satisfy his creditors in various questions asked him. The official assignee adjourned the meeting requesting bankrupt in the meantime to obtain a full statement of receipts and expenditure for the next meeting of his creditors.