BANKRUPT PUBLICAN.

Waikato Times, Volume 111, Issue 18642, 21 May 1932, Page 6

BANKRUPT PUBLICAN.

DISCHARGE TO BE FACILITATED. AUCKLAND, Saturday. , At a meeting of creditors yesterday a motion requesting the official assignee to facilitate the discharge of a bankrupt ex-hotelkeeper, Ernest Louis Smith, of Auckland, was carried. The official assignee said since the first meeting of creditors on March 31 an investigation of bankrupt’s books had been made. Although there appeared to have been a certain amount of extravagance, there were reasons for extending sympathy, as lie and his family had suffered from ill-hcalth. The whole of Ihe assets had been realised, and creditors would receive a dividend of 8s in the pound. The deficiency was £353.

The official assignee added that bankrupt had personally lost more than £2OOO, which was three or four Limes as much as Die creditors’ losses. Almost invariably it was the creditors who lost Ihe most.