*
ment of the liquidation, it will be seen that 861 debts have now been repaid, and that 1,486 still remain outstanding. However, in a consider- able number of the outstanding cases partial recovery has been effected or payments are being made on account.
Classification by Amount or Nature
of the Debt
Less than $2 ...
$2 to $999
$1,000 to $4,999
$5,000 to $9,999
$10,000 to $19,999
$20,000 to $49,999
...
:
Number and Total
Number and Total Outstanding at
Amount of Debts as
at 12th May 1965
31st March 1970
No.
$
No.
$
123
119
518
175,000
356
110,000
687
1,787,000
376
684,000
272
1,904,000
163
900,000
181
2,584,000
101
1,087,000
206
6,461,000
131
3,020,000
274
131,908,000
199
89,662,000
49
...
2,281,000
35
1,459,000
37
1,153,000
6
535,000
3,000
2,347
$148,253,000 1,486
$97,460,000
Exceeding $50,000
Staff Housing Loans
Special Accounts not necessarily
representing recoverable debts Insurance Accounts omitted from
Statement of Affairs
127. As will be evident from the foregoing, there is still a con- siderable amount of work to be done in this liquidation.
128. The Liquidator once again records his appreciation of the valuable advice and assistance received from the four members of the Committee of Inspection, who have now laboured on behalf of the creditors for almost five years. Acknowledgment must also be made of the very considerable help received from the firm of Chartered Accountants appointed to assist in this liquidation.
The Ming Tak Bank
129. As stated in previous Reports this Bank, which collapsed in January 1965, had assets consisting mainly of land and multi-storey buildings. Despite the improvement in the real estate market during the year from a vendor's point of view, and despite continued efforts to sell the flats comprised in the estate, no sales were effected during the year. However, almost all the unsold flats have been leased, with rents at end-March 1970 running at approximately $76,000 a month as com- pared with approximately $60,000 at end-March 1969. The Official Receiver, as Trustee in this case, also has a major interest in a limited
40