ONLY ONE CREDITOR.

Star (Christchurch), Volume LXVI, Issue 20273, 6 April 1934, Page 7

ONLY ONE CREDITOR.

Bankruptcy Follows Court Judgment. An amount owing to one creditor was the item under discussion at a bankruptcy meeting this morning. The bankrupt was Annie Phillips. The Official Assignee, Mr J. li. Robertson, presided. The deficiency, amounting to £B2 19s, was a judgment, given in the Supreme Court, for damages and costs. Bankrupt, in her statement, said that she was a married woman and had no debts other than the judgment debt recorded against her in favour of Mr L. C. Anderson for £B2 19s. She had no property of any kind. The debt arose because she signed a contract on November 27, 1934. for the purchase of a grocery and general store at Mount Pleasant. The purchase price was £ISOO, and she had had to find approximately £3OO in cash. She had expected to be able to borrow the money, but she had been unable to do so'. She had notified the vendor that she was unable to fulfil the contract, and a writ had been issued against her. Damages totalling £IOO were claimed, and, oh the advice of her solicitors, she had consented to a moderate sum, and judg ment was entered for £6O. Costs on the amount, awarded to plaintiff, had been £22 19s, making a total of £B2 19s Cross-examined, the bankrupt said that she had expected to receive money from her mother-in-law. With this she had hoped to meet the contract. She had received letters stating that she could have the monej r , provided the loan was not on mortgaged property She did not have the letters with her Thfe meeting was adjourned to allow the Official Assignee to inspect the letters, if they could be found.