CONTRACTOR’S BANKRUPTCY
COMPLICATED AFFAIRS. [ Per Press As; relation. 1 CHRISTCHURCH, Alav 15. At a. meeting of creditors of Frederick Ashley Neale, salesman and contractor, who said he had built 290 houses in the last few years, bankrupt esti mated thq amount owing to unsecured at £20,310 and to secured creditors £40,549. less the value of securities £58.21)5. His nominal surplus would be £8236. He attributed his bankruptcy to the depression. He had bought large blocks of city property ; and four firms. The value of all had depreciated and many properties came back on his hands and bad debts accumulated. In 1930 alone he suffered a , loss of £28,000. The Official Assignee said that it was ; one of the most complicated cases heard in Christchurch for many years. Affairs were left in his hands to wind up.
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Bibliographic details
Wanganui Chronicle, Volume 74, Issue 114, 16 May 1931, Page 6
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136CONTRACTOR’S BANKRUPTCY Wanganui Chronicle, Volume 74, Issue 114, 16 May 1931, Page 6
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