DOCTOR’S BANKRUPTCY.

Manawatu Standard, Volume XLVII, Issue 8, 7 December 1926, Page 6

DOCTOR’S BANKRUPTCY.

CAUSE OF FAILURE

WORRY AND LITIGATION. [By Telegraph.—Special to Standard.] AUCKLAND. Dec. 6. A meeting of creditors in the bankrupt estate of Doctor David Douglas Wallace Martin, medical practitioner, of Ngaruawahia, was held at Hamilton. The deputy official assignee, Mr Y. H. Sanson, presided. Bankrupt’s schedule liabilities amounting to £7830 9s 7d. of which £4929 10s was due to secured creditors. Property and chatte'c were valued at £447 10s and book debts were expected to produce £llOO. The deficiency shown was £2282 19s 7d. Bankrupt attributed his failure to worry and subsequent costly litigation arising from a motor car accident in which he had had the misfortune to kill a woman. As a result of this he suffered in health and had a nervous breakdown. He was eventually obliged to engage the assistance of Dr. E. C. Brewish, who had since carried on practically all the work. The strain of meeting past obligations in addition to current expenses, and the difficulty of collecting book debts had terminated in his filing his petition when press by. one of his creditors resulted in the issuing of a judgment summons against him. Bankrupt said he was confident of being sufficiently recovered in health to carry on his practice by next May and he hoped he would bo able to pay his creditors if given time to do so. . The meeting was adjourned for a fortnight to enable additional details of the accounts owing to be compiled.