VALUES DROPPED.
Bankrupt Explains Cause of Failure. CREDITORS SYMPATHETIC. Per Press Association. AUCKLAND, December 5. A statement which the Official Assignee described as illuminating was presented to a meeting of creditors by Benjamin Irwin Bollard to-day. His debts total £2225 and assets £2853, leaving a nominal surplus of £628. Bankrupt's statement showed that he was a successful provision merchant from 1906 to 1914. when he sold his business and was independent. From 1915 to 1924 he successfully engaged in land and commission agency as a sideline. In 1925-26 he built fifteen workmen’s homes and sold them at £750 each. In 1927-30 the purchasers were vacating the houses, while his rates and taxes were increasing. In 1930 he called his creditors together and then showed a surplus of £17,000. Since then he had incurred no debts. He attributed his position solely to the landslide of property values. Creditors were sympathetic and requested the Official Assignee to facilitate bankrupt’s discharge and returned to him his office furniture and car.
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https://paperspast.natlib.govt.nz/newspapers/TS19331205.2.109
Bibliographic details
Star (Christchurch), Volume LXIV, Issue 936, 5 December 1933, Page 7
Word Count
167VALUES DROPPED. Star (Christchurch), Volume LXIV, Issue 936, 5 December 1933, Page 7
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