MOTOR-BUS LINE FAILS

Sun (Auckland), Volume IV, Issue 965, 7 May 1930, Page 10

MOTOR-BUS LINE FAILS

VEHICLES SEIZED FOR DEBT Creditors decided to facilitate the discharge from bankruptcy of Alan Frederick Day, a motor-bus proprietor, of Wailii. at a meeting held this moin-

Tlie deputy official assignee, Mr. G. Y . Brown, who presided, reported that an examination had been made of bankrupt’s books, but they had been found to be very deficient as records of his transactions. It was impossible to draw up a. comprehensive statement as there was neither cash book nor ledger.

Mr. Goldstein, for bankrupt, said that his* client had practically been forced into bankruptcy through a judgment for £3SI, which had been obtained against him by a loan company. I Lis cars and trucks had been seized just when the busy season was beginning, and he had been unable to meet his obligations. He would have done -so had not his means of livelihood been taken from him.

There was a preferential claim for rent amounting to about £2O which had taken all the proceeds from a sale of stock, said the assignee. There was about £430 owing, with no assets available. "I do not think bankrupt can reasonably be asked to make an offer considering that his wages are only £5 a week and that he is married.” he said. "About £2OO is owing apart from the loan company’s claim. Bankrupt appears to have been rather optimisticregarding his omnibus businos but I am satisfied that he has acted in a fair enough manner. This case has no objectionable features/’ The creditors present decided to facilitate bankrupt’s discharge.