CHINESE BANKRUPT.

IN BANKRUPTCY. IN THE SUPREME COURT HOLDEN AT WELLINGTON. NOTICE is hereby given that CHUNG TACK, trading as Sing Kee and Co., of Wellington, Fruiterers, was thia day adjudged bankrupt; I hereby summon a meeting of creditors to be holden at by office, 190, Lambton-Quay, on Tuesday, the 3rd day of March, 1914, at 11 o'clock. A. SIMPSON, Official Assignee. Wellington, 21 february 1914. Evening Post, Volume LXXXVII, Issue 44, 21 February 1914, Page 6

HOPELESS TANGLE

MEDICINE AND MUDDLEMENT A CHINESE BANKRUPTCY. The Celestial 16 generally looked upon as a very astute business man whose credit side of the ledger (to the Chinese way of thinking) shows a substantial balance,' but the bankrupt affairs of Chung Tack (tTaduig as Sing Keo and Co., fruiterers), which were partially investigated at a meeting of his creditors to-day, showed what was regarded as such a hopeless state of muddlement that it was impossible to properly solve his financial position. The following creditors were represented at the proceedings Messrs. A. S. Paterson and Co. (Mr. Shirtcliffe), P. Hayman and Co. (Mr. Kellow), Laery and Co. (Mr. Fildes), Thompson Bros. (Mr. Baudinet), and Wollewnan and Co. (Mr. Wollerman). The Official Assignee© (Mr. A. Simpson), presided. The statement of bankrupt's affairs showed that the unsecured creditors were Kwong Nam Hing (China), £989 12s sd How Tak Chong (Hong Kong), £139 4s 8d; Wing Sang and, Co. (Sydney), £310 7s; P. Hayman and Co., £140 8s 8d; Levin and Co., £54 15s 4d Townsend and Paul, £18 Ss 6d W. M Bannantyne and Co., £20; A. S. Paterson and Co., £80 '4s lid; C. A. Griffith and Co.' £25 16s; Leary and Co., £98 5s 7d; Thompson Bros., £30 lfi lid; W. and G. Turnbull, £32 18s 4d; Wollerman and Co. (nob proved). £18 5b 8d; W. H. Green and Co., £26 Ss; Hop Fook Chong, £22; landlord (per Young and Tripe), £59; Sam Yook (Greytown), £12 9e 9d; Ching Le© (Levin), £23 4s 7d; T. Lock (Featherston), £78 18s; Lum K.6G (Marton), Young On, £28 10s; Yem Get, £3; Leong Kee, £26. Total, £2261 17s. The total assets were estimated at £331 4s 5d (including stock-in-trade, £323 10b; cash in hand, £2 Us 7d furniture, £5; leavi ing a deficiency £1930 12& 7d. In explaining the circumstances of the bankruptcy, the Official Assignee stated that he filed on 21st February. Bankrupt had assigned his stock in trade at £323 10s, but stock had since been taken, and the amended value was assessed at £457. "It had never been touched before." said Mr. Simpson (referring to the stock), "and was one of the dirtiest stocks we have ever handled. The book debts are set down at almost £3000, but how we will collect them I don't know." Thfe bulk of the stock was composed of Chinese medicine, valued at £205 16s 6d, and other stock at £139, the balance of £92 3s 6d being made up with fittings, etc. He did not know, what could be_ done with the medicine unless some Chinese purchased it. Mr. J. F. W. Dickson (appearing for Ching Tack) explained that the' bankrupt, in 1904, entered into business with Young Chow, when the latter business was hopelessly insolvent. Young Chow owed him £200. f0r wages, and this was his share of the partnership. Young Chow then went to China, and while he was away bankrupt was to receive £3 a week and a quarter of the profits. The man who went to China sold large quantities of fungus on behalf of the firm for a period of ten years, but had never accounted for the money ho had received. Mr. Kollow asked why it was that five days before Chnng Tack had become bankrupt he had purchased £26 worth of goods, from a certain firm. Replying through the interpreter, bankrupt stated he had sent the goods to Chinese merchants outside of Wellington. ,Mr. Dicks'on intimated that the European''creditors would receive tho' benefit of any assets.' Further examined on oath, bankrupt stated he did not then intend to become bankrupt. Three cases' of gin and brandy which he had purchased three days before he became bankrupt he had sold to a Chinese restaurant. The Official Assignee remarked that it was quite evident that the man had been getting goods from his creditors and selling them to his own countrymen. Mr. Shirtcliffe asked where £80 worth of goods that bankrupt ,had purchased from A. S. Paterson and Co. on 20th January had gone to. Bankrupt had not done business with the firm' for years previously. 1 The Official Assignee replied that there were large quantities of tobacco and cigarettes unaccounted for, unless the books revealed their whereabouts. Mr. Kellow thought the bankrupt should be made 'to undergo a public examination. The bankrupt said he could find ai buyer for the 1 medicine in two or three days. It was decided to keep the shop open for another week and to call for tenders separately for the medicine and the other stock. Also to examine the books through the interpreter. The meeting then adjourned sine die, the Official Assignee remarking This is about the second Chinese bankruptcy I have had in the last eight years." Evening Post, Volume LXXXVII, Issue 52, 3 March 1914, Page 8





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 m Wellington m eight years. It was shown that the affairs wore m 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

IN BANKRUPTCY. TAKE Notice that I,' Chung Tack, a Bankrupt, intend to apply at tho next sittings of the Supremo Court of New Zealand, at Wellington, in Bank- ruptcy, held on the 161 h day of August, 1915, for an unconditional discharge. Dated this 16th da> of June, 1915. CHUNG TACK Evening Post, Volume LXXXIX, Issue 142, 17 June 1915, Page 2



Mr. P. J. O'Regan stated, on behalf of Chung Tack, fruiterer, who filed in February, 1914, that he was earning very little money and had much domestic trouble. After examining the bankrupt his Honour agreed to grant the discharge. Evening Post, Volume XC, Issue 40, 16 August 1915, Page 2