516 THE HONGKONG GOVERNMENT GAZETTE, DECEMBER 4, 1914.
(12.) In case the assets of any such trade, or the
personal assets of any such alien enemy, shall be or become insufficient to meet all the corres- ponding liabilities, such assets shall be applied in the following order of priority:---
Firstly, the expenses incurred by the liquidator in the course of such winding up, including (a) the rent of any business premises formerly occupied by such alien enemy which shall accrue while such premises are occupied by the liquidator for the purpose of such winding up, (b) audit fees, and (c) any money which may be ad- vanced by the liquidator for the purposes of such winding up.
Secondly, a sum of money equal to two and a half per cent, on the total assets realised or brought to credit by the liquidator, to be retained by him as remuneration for his loss of time and trouble.
Thirdly, all sums of money due to secured creditors up to the value of their respective securities. Fourthly, the salary or wages of any clerk or ser- vant in respect of services rendered since the 31st day of July, 1914, less any sum of money due by such clerk or servant to such alien enemy, or to the compradore of such alien
enemy.
Fifthly, all sums of money due to the Crown. Sixthly, all other liabilities rateably pari passu
whether due to persons within or without the Colony: Provided that in the case of the winding up of any trade formerly carried on in the Colony by an alien enemy which was a branch of a trade carried on also outside the Colony, such liabilities in the opinion of the liquidator arise out of transactions entered into by or on behalf of such branch within the Colony and are not liabilities which would ordinarily have been discharge by branches of such trade outside the Colony.
(13.) In case the net assets of any such trade, or the nett personal assets of any such alien enemy, after deducting the value of all securi- ties held by secured creditors. shall be or be- come insufficient to satisfy the total sums of money which the liquidator is entitled under sub-section (11) of this section to retain, every secured creditor shall be liable to pay to the liquidator such proportion of the sum by which the nett assets as above defined are insufficient for the purpose aforesaid as the value of his security may bear to the total assets realised or brought to credit by the liquidator.
(14.) The accounts of every such liquidator with respect to any such winding up shall be audited in such manner as the Governor may direct.
(15.) Every person who shall, without lawful excuse, refuse to hand over to a liquidator on demand any keys, safe, office furniture, account books, cheque books, or other things of any nature whatsoever, of which he may be in possession, and which may have been used in connection with or which may relate to the trade or personal affairs of the alien enemy whose trade or personal affairs respectively such liquidator has been appointed to wind up, and every person who shall, without lawful excuse, in any way obstruct any liquidator in taking possession of any premises occupied by or on behalf of such alien enemy immediately before the appointment of such liquidator, shall be deemed to commit an offence against this Ordinance.
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