Post by NZBC on Nov 19, 2009 18:30:02 GMT 12
CHINESE BANKRUPT.
DEFICIENCY OF £51930. (Per Press Association.) WELLINGTON, this day. A meeting of creditors was held m the bankrupt estate of Chung Tack, Chinese fruiterer. This is only the second Chinese bankruptcy in Wellington in eight years. It was shown that the affairs were in a hopeless tangle. The liabilities of Chinese and European merchants totalled £2261 17s, and the assets £437, including Chinese medicines £205 16s 6d. The estimated deficiency was, £1930 12s 7d. The official assignee, Mr Simpson, stated that no doubt the bankrupt had been purchasing goods just prior to the bankruptcy and selling them to his fellow countrymen. Unless a buyer was found for the medicine it would be absolutely worthless. One creditor pleaded for a public examination of the bankrupt. The meeting adjourned sine die. Separate- tenders are to be called for the medicine and other stock, and an investigation of the books will be made through an interpreter. Poverty Bay Herald, Volume XLI, Issue 13319, 3 March 1914, Page 6
DEFICIENCY OF £51930. (Per Press Association.) WELLINGTON, this day. A meeting of creditors was held m the bankrupt estate of Chung Tack, Chinese fruiterer. This is only the second Chinese bankruptcy in Wellington in eight years. It was shown that the affairs were in a hopeless tangle. The liabilities of Chinese and European merchants totalled £2261 17s, and the assets £437, including Chinese medicines £205 16s 6d. The estimated deficiency was, £1930 12s 7d. The official assignee, Mr Simpson, stated that no doubt the bankrupt had been purchasing goods just prior to the bankruptcy and selling them to his fellow countrymen. Unless a buyer was found for the medicine it would be absolutely worthless. One creditor pleaded for a public examination of the bankrupt. The meeting adjourned sine die. Separate- tenders are to be called for the medicine and other stock, and an investigation of the books will be made through an interpreter. Poverty Bay Herald, Volume XLI, Issue 13319, 3 March 1914, Page 6