MAGON MOTORS.

Waikato Times, Volume 103, Issue 17412, 26 May 1928, Page 8

MAGON MOTORS.

BANKRUPTCY PROCCEDINGS.

DISGHARGE OPPOSED. (Special to Times.) AUCKLAND, Saturday. The Hamilton Official Assignee, Mr J. H. Robertson, continued the hearing of the bankruptcy case of Albert Edward Magon, of Tc Kuiti, at Auckland, yesterday afternoon. Bankrupt attended the meeting in the afternoon. Bankrupt, questioned by the assignee in the afternoon, said he did not know he should have attended in the morning. Referring to the schedule of liabilities and assets placed before creditors, he said he owed £IOOO to Ins brother for two vehicles purchased from him. This sum was not shown in the schedule. Bankrupt denied having received money owing to him since his business had been administered by the creditors' trustees.

The Assignee: Did you receive a chequ-i for £37 from u station master at Te Kuiti. Bankrupt: No, it was not a cheque at all, it was cash for £23. What have you done with it?—l still have it. The Assignee: I can tell you this. Unless this "particular amount is in my hands within 48 hours, the matter will be placed in the hands of my solicitor and possibly the police. Prior lo going to Te Kuiti in 1920 you had little or no business experience?—No, 1 did not have much. Further questioned, bankrupt said the garage at Te Kuiti cost between £2OOO and £3OOO. The Assignee: Of course, a mere £IOOO was of no difference to you. You seem lo have a very hazy idea about your affairs. You did not bother to go into your affairs every year to sec whether you were solvent or not? — No, I did not. I suppose the position was that you were simply muddling along?—That >s what I have done. A Creditor (to bankrupt) : What method did you have of checking the cash from drivers? —There was no method at all. They just sent it in. There was no accounting between you and them?- —No. A Severe Resolution. After further discussion the following resolution was passed:—"ln view of the conduct of bankrupt in not affording creditors every assistance they had a right to expect, and in view of the fact ttiat he has proved himself a irresponsible muddler in business, creditors request the official assignee to take such steps 'as he considers necessary and to opposite bankrupt's discharge." The meeting was adjourned pending further investigation.