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 1971 (WITH TOTALS FOR THE PERIOD 12TH MAY 1965 to 31st MARCH 1971)
Dr.
RECEIPTS
PAYMENTS
Year ended 31st March 1971
Period from
Year ended
12th May 1965 to 31st March 1971
31st March 1971
Cr.
Period from 12th May 1965 to 31st March 1971
Balance as at 31st
March 1970:
Payments for preservation of assets:
Cash in Hand
...$
Balances with Bankers:
Current Accounts
4,945
1,177,452
Payments to complete
purchases
$
247,270
Property Tax
400
57,451
Fixed and Call
Rates (less refunds
Deposits
4,900,000
received)
(1,683)
197,600
Crown Rent
14
1,291
$ 6,082,397
$
Insurance of buildings
Proceeds of property
Realization of Assets:
Cash and Bank Balances $
realized:
Land and Buildings
Deposits on un-
completed Sales Other Fixed Assets Book Debts collected Stamp Duty recovered
2,049,000
and contents
2,319
33,442
$10,400,082
Maintenance Expenses...
8,485
105,363
S
9,535
S
6,305,578
Expenses of Petition and
Statement of Affairs
642,417
47,095
(192,750)
2,293
10,917,890
29,000
506,590
Expenses of realization of
55,842,375
assets:
4,102
On realization of Assets $ On recovery of Book
35
12,776,433
73,087,727
Debts (less recoveries)
50,279
S 16,407
182,116
Property Rental received
Interest received:
44,974
488,282
50,314
198,523
Expenses of collection of Book Debts (recoverable from Debtors)..
47,799
1,567,480
On Deposits with Bankers
On Book Debts.
551,637
1,851,488
On Deposits re Sale of Property
$ 1,319,564
5,433,160
34,690
Miscellaneous payments (temporarily held in Suspense Account)
(850)
8,160
Payments to Creditors:
2,403,125
6,787,414
Preferential Creditors ...$
$ 278,607
Unsecured Creditors
Disbursements recovered
7,257
Rental Deposits
refunded
800
5,020
Miscellaneous receipts
(11,831)
$21,295,098
16,238
Dividends Paid (less
adjustment)
$80,386,918
First
(4,026)
Second
70,545
etc.:
Sums collected
Collection for beneficiaries of Bills for Collection,
Less: Payments to beneficiaries
Deposits received from Licensees and Tenants (less refunded)
Loans from Hong Kong Government:
Sums borrowed to make payments to Creditors S
Less: Sums repaid to
date
37,282,021 14,282,296
67,319
51,847,944
...$
$
10,437
10,437
Drawings by Official Receiver on account of fees
227,900
2,118,587
Legal Expenses in Special Civil Action Interest paid on loan from Hong Kong Government
42,700
55,535
1,695,579
(15,880)
3,400
Expenses of Liquidation to date
$
227,897
672,614
2,270,498
$60,451,818
Balance as at 31st March 1971:
$22,500,000
22,500,000
Cash in Hand
...S
Balances with Bankers:
Proceeds of Sale of a
Current Accounts Fixed and Call Deposits
---
4,568
245,006
21,527,898
S 4,568
245,006
21,527,898
Debtor's Property held
in suspense pending
completion:
Receipts
Less: Expenditure
21,777,472
21,777,472
...$ 1,190,120
19,252
$ 1,972,240
133,268
1,170,868
$22,450,086
1,838,972
$82,229,290
$22,450,086
$82,229,290
94
TABLE XXVI—Contd.
STATEMENT OF ASSETS AND LIABILITIES AS AT 31ST MARCH 1971
LIABILITIES