Previous Cases still proceeding.
47. There were outstanding from previous years and still unconcluded twelve bankruptcies (the Official Receiver acting as Trustee in eight, outside accountants in four), and six com- pulsory liquidations of companies (three handled by the Official Receiver, three by outside Liquidators).
Prosecutions.
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48. Two Bankrupts and one Petitioning Creditor were found guilty of offences under the Bankruptcy Ordinance and sentenced to imprisonment for terms varying from 9 to 18 months.
Official Receiver in Bankruptcy Account.
49. The balance on hand at 31st March, 1954, was $388,536.10 of which $308,000 was held on Fixed Deposits. Receipts totalled $187,797.82, and payments $195,793.47. Some idea of the growth of bankruptcy work in recent years may be gathered from the fact that the total number of entries of receipts and payments was 740 in 1953/54 as against only 26 in 1950/51.
The Companies Liquidation Account.
50. Table XIV shows the gross Receipts and Payments as $1,037,885.48 and $1,022,333.65 respectively, and the Balance at 31st March, 1954, as $1,453,924.90, of which $635,746.66 is invested in £40,000 3% War Loan 1955-59, and $700,000 on Fixed Deposits. $20,872.60 was received in interest on these investments. On this Account, too, there has been a large increase of work in recent years; in 1953/54 the total number of entries of receipts and payments was 1,130 as against only 151 in 1950/51.
Fees.
51. The Official Receiver's Fees and Commission charged during the year amounted to $25,196.65.
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