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TABLE XXVI
THE CANTON TRUST AND COMMERCIAL BANK LIMITED (IN LIQUIDATION) COMPANIES LIQUIDATION (C.T.) ACCOUNT
STATEMENT OF RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31ST MARCH 1973 (WITH TOTALS FOR THE PERIOD 12TH MAY 1965 TO 31ST MARCH 1973)
Dr.
Cr.
RECEIPTS
PAYMENTS
Year ended 31st March 1973
Period from
12th May 1965 to 31st March 1973
Year ended
31st March 1973
Period from
12th May 1965 to
31st March 1973
Balances as at 31st March 1972:
Payments for preservation of Assets:
Cash in Hand
...$
Balances with Bankers:
Current Accounts
Fixed and Call Deposits
2,500
172,982
10,877,255
$
Payments to complete
purchases
..$
$
Property Tax
(8,790)
247,270
48,661
Rates (less refunds
received)
Crown Rent
1,252
$11,052,737
Insurance of buildings
and contents
101
199,460
1,291
33,643
Realization of Assets:
Cash and Bank Balances $
Maintenance Expenses...
1,500
109,168
$10,400,082
Proceeds of property
$
(5,937)
$
639,493
realized:
Land and Buildings
Deposits on
uncompleted Sales...
Other Fixed Assets
Book Debts collected Stamp Duty Recovered...
322,000
(27,000)
1,600
3,359,460
6,817,578
Expenses of Petition and Statement of Affairs
47,095
508,190
66,938,611
4,102
Expenses on Realization of Assets:
On realization of Assets $ On recovery of Book
S
18,138
Debts (less recoveries)
52,101
288,714
Property Rental Received
3,656,060
3,527
$84,668,563
509,149
52,101
306,852
Interest Received:
Expenses on Collection of Book Debts (recoverable from Debtors)
51,737
1,699,310
On Deposits with Bankers
On Book Debts
419,587
1,978,439
$ 2,880,766 9,764,556
Expenses on Collection of Book Debts (held in suspense pending
On Deposits re Sale of Property
allocation)
17,202
17,202
34,690
2,398,026
12,680,012
Miscellaneous Payments (temporarily held in Suspense)
---
1,483
15,326
Disbursements Recovered
Miscellaneous Receipts
725,300
$17,835,650
7,257,257
751,538
$98,616,519TM
Payments to Creditors:
Preferential Creditors
$ 278,607
Unsecured Creditors:
Rental Deposits
refunded
5,020
Dividends Paid:
Collections for Beneficiaries
First
of Bills for Collection,
Second
(20,612)
79,549
37,257,514
14,380,452
etc.:
Third
1,327,328
20,672,813
Sums collected
Less: Payments to
beneficiaries
Deposits Received from Licensees and Tenants
Loans from Hong Kong Government:
10,437
10,437
1,386,265
72,594,406
1
Drawings by Official Receiver on Account of Fees
Legal Expenses in Special Civil Action Interest paid on loan from Hong Kong Government
...
...
334,500
2,944,587
62,295
---
1,695,579
Sums borrowed to make payments to Creditors $ Less: Sums repaid
Expenses of Liquidation to date
308,443
3,029,292
$22,500,000
22,500,000
$ 2,145,794
$83,051,437
Collections in excess of the
Balances as at 31st March 1973; Cash in Hand
...$
balance due from a
Balances with Bankers;
Debtor, held in suspense, refunded during the year (124,774)
Current Accounts
Fixed and Call
Deposits
2,500
161,350
15,401,232
$ 2,500
161,350
15,401,232
$17,710,876
$98,616,519
15,565,082
$17,710,876
15,565,082
$98,616,519
93