TABLE XXVI
THE CANTON TRUST AND COMMERCIAL BANK LIMITED (IN LIQUIDATION)
COMPANIES LIQUIDATION (C.T.) ACCOUNT
(subject to audit)
STATEMENT OF RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31ST MARCH 1969 (WITH TOTALS FOR THE PERIOD 12th May 1965 to 31ST MARCH 1969)
Dr.
Cr.
MARINE DEPARTMENT LIB.
Balance as at 31st
March 1968:
Cash in Hand
$
14,154
Balance of Companies
Liquidation (C.T.)
Account
...
224,581
Call deposits in name
of Official Receiver
500,000
Due by Receivers
under Debentures.
70,000
RECEIPTS
PAYMENTS
Year ended 31st March 1969
Period from
Year ended
12th May 1965 to 31st March 1969
31st March 1969
Payments for preserva- tion of assets:
Period from
12th May 1965 to
31st March 1969
Payments to complete
purchases
$
S
247,270
Property Tax
56,151
Rates (less refunds
received)
19,435
190,424
Crown Rent
159
1,183
Insurance of buildings
and contents
11,342
23,792
Maintenance expenses
16,499
75,265
$
808,735
$ 47,435
Realization of Assets:
Cash and Bank
Expenses of Petition
Balances
---
Proceeds of property
realized:
$10,400,082
and Statement of Affairs
149
$ 594,085
47,095
Deposits on un-
Land and Buildings 1,742,333
completed sales... Other Fixed Assets Book Debts collected Stamp Duty recovered
Property Rental received
Interest received:
On Deposits at Call.. On Book Debts
2,349,359
9,500
75,205
9,860,977
9,500
-481,191 36,144,034
4,102
Expenses of realization of assets:
Assets
On recovery of Book
On realization of
Debts (less
recoveries)...
11,688,015
49,388,268
88,220
339,091
1,833
7,029
51,053
79,956
52,886
86,985
Expenses of collection
of Book Debts
12,271
1,356,717
297,478
2,212,919
On Deposits re Sale of Property
+++
15,673
34,690
1,384,661
2,545,087
Disbursements recovered Miscellaneous receipts...
54
12,478
13,982,163
7,257
15,217
52,294,920
(recoverable from Debtors)
887,152
1,221,476
Miscellaneous payments
(temporarily held in Suspense Account)
847
847
Payments to Creditors: Preferential Creditors Unsecured Creditors Rental Deposits refunded
82,370
1,910
Dividends paid
6,296
4,220
37,227,486
Collections for beneficiaries of Bills for Collection etc.: Sums collected Less: Payments to beneficiaries
8,206
37,314,076
10,436
10,436
Drawings by Official
Receiver on account of fees
345,200
1,397,087
Interest paid on loan
from Hong Kong
Deposits received from Licensees and Tenants
Receipts (less Payments) held in suspense for account of a Debtor pending further action
Government
246,333
1,695,579
6,160
14,960
Expenses of Liquidation to date
201,512
1,789,720
1,693,045
44,050,275
201,655
1,958,456
Less: Sums placed on Special Fixed
Deposit with
Expenditure recoverable from sales proceeds of Debtors' property
Bankers
233,642
1,963,851
(less recoveries)
2,634
90,228
31,987)
5,395)
Balances as at 31st
92
Loans from Hong Kong
Government:
Sums borrowed to
make payments to Creditors
+19
++
Less: Sums repaid to date
...
22,500,000
4,000,000
22,500,000
(4,000,000)
$ 9,956,336
March 1969:
Cash in Hand
Balance of Companies
Liquidation (C.T.) Account
219
219
113,763
8,050,000
8,163,982
8,163,982
$9,956,336
$52,304,485
113,763
Fixed and Call
Deposits in name
$52,304,485
of Official Receiver 8,050,000
TABLE XXVI- Contd.
STATEMENT OF ASSETS AND LIABILITIES AS AT 31ST MARCH 1969