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 1970 (WITH TOTALS FOR THE PERIOD 12TH MAY 1965 to 31st MARCH 1970)
Dr.
Cr.
60,311,294
443,308
On Book Debts
$ 470,449 1,368,753
$ 767,927 3,581,672
Balance as at 31st
March 1969;
RECEIPTS
PAYMENTS
Year ended 31st March 1970
Period from
Year ended
12th May 1965 to 31st March 1970
31st March 1970
Payments for preserva- tion of assets:
Cash in Hand
S
219
Balance of Companies
Liquidation (Ĉ.T.)
Payments to complete purchases
$
$
Property Tax
900
247,270
57,051
Account
113,763
Rates (less refunds
Fixed and Call
received)
---
8,859
199,283
Deposits in name
Crown Rent
94
1,277
of Official Receiver
8,050,000
Insurance of buildings
and contents
7,331
31,123
$ 8,163,982
S
Realization of Assets: Cash and Bank Balances
Maintenance expenses
21,613
96,878
S 38,797
$
632,882
S
$10,400,082
Proceeds of Property
Expenses of Petition and Statement of Affairs
47,095
realized:
Land and Buildings Deposits on un-
completed sales.. Other Fixed Assets Book Debts collected Stamp Duty recovered
Property Rental received
Interest received:
On Deposits with Bankers
1,907,218
4,256,578
Expenses of realization
of assets:
212,250
23,106
8,780,451
221.750
504,297
44,924,485
4,102
10,923,025
104,217
Period from 12th May 1965 to
31st March 1970
On realization of
Assets
$ 9,343
$
16,372
On recovery of Book
Debts (less
recoveries)..
51,881
131,836
61,224
148,208
Debtors)
On Deposits re Sale
of Property
34,689
Payments to Creditors:
1,839,202
4,384,288
Expenses of Collection of Book
Debts (recoverable from
Miscellaneous payments (temporarily held in Suspense Account)
Preferential Creditors $ 196,237
Unsecured Creditors
298,205
1,519,681
8,163
9,010
$ 278,607
Disbursements recovered
Miscellaneous receipts
7,257
Rental Deposits
refunded
4,220
12,851
28,069
Dividends paid
First
21,043,277
65,174,216
Second
58,561
14,211,750
37,286,048 14,211,750
Collection for
beneficiaries of Bills
for Collection, etc.:
Sums collected
$
Lees: Payments to beneficiaries
$
10,437
10,437
Drawings by Official Receiver on account of fees
14,466,548
493,600
51,780,625
1,890,687
Legal Expenses in Special Civil Action
---
12,835
12,835
Deposits received from Licensees and Tenants (less refunded)
Receipts (less Payments) held in suspense for account of a Debtor now bankrupt
Less: Sums placed on
Special Fixed
Deposit with
Interest paid on loan from Hong Kong Government
---
4,320
19,280
Expenses of Liquidation to date
349,557
$15,728,929
1,695,579
2,042,602
$59,779,204
$ 187,730
$ 2,090,365
Bankers and
transferred to
Trustee in
182,335
2,090,365
5,395
Balances as at 31st
March 1970:
Cash In Hand
Balances with Bankers
Current Accounts...
Fixed and Call
Deposits
$
4,945
1,177,452
4,900,000
$ 4,945
1,177,452
4,900,000
6,082,397
6,082,397
91
$
782,120
23,786
$ 782,120
114,015
758,334
668,105
$21,811,326
$65,861,601
$21,811,326
$65,861,601
$22,500,000
22,500,000
Bankruptcy
Loans from Hong Kong
Government:
Sums borrowed to
make payments to Creditors
Less: Sums repaid to date-
Froceeds of Sale of a Debtor's Property held in suspense pending completion: Receipts
› Less: Expenditure
TABLE XXVI-Contd.
STATEMENT OF ASSETS AND LIABILITIES AS AT 31ST MARCH 1970