in view of his ill health and old age given an absolute discharge in respect of the first two offences, and bound over in the sum of $500 for twelve months in respect of the third offence.
Cases Concluded
122. Seven cases were concluded, six bankruptcies and one winding- up, and the Official Receiver was by Orders of the Court released from his trusteeship and office of liquidator respectively.
Previous Cases still Outstanding
123. Forty-six bankruptcies, including the eight prewar cases men- tioned in paragraph 116, were carried over from previous years, but in thirty-three of these either a final dividend had already been paid or there were no assets available for distribution, and only formal closure proceedings were required. There were twenty-four compulsory liquida- tions outstanding from previous years, eleven of which were merely awaiting formal conclusion. Some of the cases awaiting formal closure have been awaiting closure for several years. It has, however, been neces- sary to give priority to more important work on current cases.
Official Receiver in Bankruptcy Account
124. The receipts and payments for the year and the assets and liabilities as at 31st March 1964 are set out in Table XXII. Assets of bankrupt estates produced $1,301,916. Payments to preferential creditors and dividends to unsecured creditors amounted to $7,013 and $462,659 respectively, making a total of $469,672, and unclaimed funds and dividends amounting to $110,533 were transferred to the Bankruptcy Estates Account. At the end of the year the assets held by the Official Receiver on account of bankruptcies totalled $1,943,915 including $1,901,684 held in respect of undistributed assets of bankrupt estates, and $33,342 in respect of unclaimed dividends.
Companies Liquidation Account
125. The receipts and payments for the year and the assets and liabilities as at 31st March 1964 are set out in Table XXIII. Assets of companies in compulsory liquidation produced $218,032, and payments to preferential creditors and dividends to unsecured creditors amounted to $14,412 and $4,597 respectively. Interest on investments and bank interest totalled $40,134, of which $33,220 was transferred to General Revenue in accordance with Section 279(3) of the Companies Ordinance. The assets held at the end of the year totalled $1,085,839.
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