BANKRUPT DENTIST.

Star (Christchurch), Volume LXVI, Issue 20425, 2 October 1934, Page 7

BANKRUPT DENTIST.

Deficiency of £Bl3. (Special to the “ Star.”) TIMARU, October 1. An offer to pay £S monthly until all creditors received 5s in the £ was made by Christian Cecil Paterson, a bankrupt dentist, to a creditors’ meeting to-day. The Official Assignee, Mr W. Harte, presided. The offer was accepted. Bankrupt stated that in 1929, owing to carrying on his profession for some years at a loss, he was financially embarrassed. His creditors, to whom he owed £1227. then agreed to accept monthly payments. lie had since paid £368 and there was £6B in hand at the time of filing. lie had been struggling for a number of years to rio the right thing by his creditors, but this was impossible because of the size of his accumulated debts and worry affecting his health. The schedule of finances showed £990 owing to unsecured creditors. Cash totalled £76 and furniture was valued at £IOO. The estimated deficiency was £Bl3 ISs 7d. The Official Assignee said that the total liabilities would exceed £IOOO. Air Mervyn Raymond appeared for bankrupt, and said that his client was prepared to surrender the whole of his furniture to his creditors. In reply to the Official Assignee, bankrupt said that since 1929 he had incurred liabilities totalling £l5O. It was decided to allow Mrs Paterson to select £3O worth of furniture, the Assignee to dispose of th e balance.