PRACTICAL
GIFT
SUGGESTIONS
"
THE HONGKONG TELEGRAPH. WEDNESDAY, DECEMBER 19, 1934.
COURT ANNULS
ORDER
JUDGE'S DECISION IN
BANKRUPTCY
of
The adjudicatlon order mato In respect
the Nam Yuen Restaurant and Lami Yue-tat, man- aging partner, WRs annulied in the Bankruptcy Court this morn- my by the Chief Justice, Mr. Justico A. D. A. MacGregot who gava judgment following... argu- ment at the previous Couri.
His Lordship said :-This le an application by,the Offcial Regɛiver under Section 33 - (1) of the Bankruptcy Ordinance, 1981, for an order that, the adjudication mindo in this case be annulled on the grounds that the nasels for distribution among the unsecured creditors, after payment of ali costs, charges and expenses, will. not be sufficient to pay a dividend of 15 per cent. „
There is no opposition to the application save that of a secured creditor, and it is not disputed that the amount available for` dis- tribution is Insufficient to pay anfening. like the statutory figure of 16 per cent.
Mr. Armstrong bares his oppäsi- tion un the proviston In" "thab part of the second schedule to thể Ordinance which deals with proof by secured creditors and partien. arly on Hale 12 18) in that 'Schedule.
CREDITORS' RIGHTS
The object of bankraptcy is to secure, onder, the negis of an, oneiai appointed for that purpose, that the available hasets of an Insolvent will be distributed equitably among his unsecured creditors. A secured creditor does not, by reason of an adjudica- lion.
his right Joga
to recover Lagainst bis sicherty, nor can he claim to participate in the avait- wine makets unitess he first realisek lus security and thereafter proves as an unsecured creditor for the balance.
There are many suggestions “HE will appreciate from a fine range of new goods. Wallets-Ties-
Silver Brushes - Gloves Lengths-Scarves-Dressing Gowns ght not to have been adjudged
-Suit
-Hats-Shoes-Overcoats, Etc.
IN THE
LADIES'
DEPARTMENTS
There are also many ideas,
NEW BAGS
POWDER CASES
Perfumes, Gloves,
Silverware,
Stockings.
English legislation contains no analogous to that in our focal Ordianes regarding a Fund suficient to pay 15 per cent. o the unsecured debts, but it noes make provision for the anoviment of an adjudication in either of two eventet where in the opinion of the Court a debtor
bankrupt or where the debts of |the bankrupt have 'been paķd in
เนส,
I have been unable to and any authority for the proposition that na ense where either adjudien- tion bas bein obtained by an ause of the process of the Court.
or the bankrupt has paid in fuli all proved unsecured debts, an adjudication will not be annalled by reason of the fact that by such nulment a secured creditor will lose the benefit of the 12th rule in the Second Schedule to the Ordinance. The reason, I think,
1st Tar to seek.
Gift Meck
More gifts
POWELL'S
for less
YOU ARE MISSING something if you DON'T SHOP AT
POWELL'S THIS CHRISTMAS.
POWELL'S
OFFER A SUPERIOR SERVICE FOR
"PRESENTS FOR MEN"
This the most competent Clothing Service in Hong Kong, will enable you to acquire anything you may need for "his present" at prices that will allow you to complete your purchases with money to spare.
We suggest a nice box of Irish Linen Handkerchiefs with his Initial on, then there are Dressing Gowns Socks, Colf Hose and a profusion of Slipovers and Pullovers, Walking Sticks and Umbrellas. Ties in Plain and Fancy Designs are a strong feature. this Christmas and are to be seen in all qualities in Foulard and Macclesfield Weaves. Brace Sets, Travelling Rugs, Scarves, Slippers, Chamois Cloves.
WE SHALL BE PLEASED TO HELP MAKE A SELECTION IF DESIRED, OPEN UNTIL 6 P.M.
Wm. POWELL Ltd.
REPUTED THIEF
RAZOR BLADE. IN POCKET
Three' 'months' hard labour was the sentence imposed on Ho Ping, 28, unemployed, by Mr. Wynng- Jones in the Central Police Court this morning on a charge thint,: being a reputed thief, he was found loitering in Connaught Rond with Intent to steal,
Detective-Inspector J. Murphy, prosecuting stated that when searched by a detective in the The law pro-street, a razor blade was found in vides that in certain events this the defendant's right pocket..... Court is entled in its discretion to annui an adjudication and that diseretion will be exercised either for the protection of the Court itself, in the interests of a bank- Suto a person's pockets. He fol rupt who is no longer insolvent.lowed him.
or for the generat bertit of the
Ho Sam, the detective, who made the arrest, told the Magistrate that he saw the defendant looking
Defendant ndmitted five pre-i
creditors and the Official Receiver,vious convictions for theft, two of
ANNULMENT EFFECT
The effect of annument In this may be, as Mr. Armstrong has cogently argued, that the ceeared creditora must suffer, but they would have suffered in exactly the same way if the debtor had paid his unsecured debts in full and had then absconded from
de jurisdiction.
Rule 12. of the Second Setodule, is in my opinion, a procedure rule niy, setting up an alternative
Vanity Cases, machinery
Handkerchiefs,
OVERCOATS, Etc.
YOU CANNOT
DO BETTER
THAN PAY AN
EARLY VISIT
TO-
MAYFAIR
OPPOSITE KING'S THEATRE.
for the benchit of secured creditors in a bankruptcy. I am unable to hold that it con- fere on a securd er, ditor an over-
riding right sufficient to debar The Court in Puch a case as this wie of the discretion conferred on it by Section 33 (1) the order of adjudication in this case is no- Butled.
KINDERGARTEN FESTIVAL
ENJOYABLE FUNCTION AT KOWLOON
A
most enjoyable Christmas Festival was held at. the "Lolonia" Kindergarten, Kowloon, this morn- ing, when the pupils entertained their parents with nursery rhymes, short sketches and songs.
Mrs. Douglas Orr and her three assistants, the Misses Ruth Ingram, Jean Bryden and Norma Bilder beck, are to be congratulated on the excellence of the Festival.
wns
The Percussion Band aplendid in the rendering of "Polly, Put the Kettle On," "Upon Paul's " and "Baa Baa Black
Steep The chlidren showed a
fine sense of time and rhythm.
After Christmas carols and an action' song, the children presented their parents with gifts which they had runde during the termi
Father Christmas then appeared with a sack full of toys and presented each child with a gift.
which were for slending from the) persan.
Defendant: 1 hope your Worship vill give me chance this time. The Made was merely found in my pocket.
The Magistrate: How on earth id the defendant avoid being banished? What an extraordinary .hing,
Defendant: 1 have always main- ained that I was born in Aberdeen district,
(Continued on Next Columns.)
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Jasp. Murphy: I was presenti The depositions of defendant' when he was charged. I under-last case, when he appeared be atood him to say he was born in fore Mr. Wynne-Jones in July Canton. He lives in Canton Road. 1932, were produced from th
Defendant: I never said I was Court's records. bora in Canton.
His Worship remarked that h
zerorded on his depositions at that me that defendant was apparent-
Hongkong-born.
under- laspertor Murphy: 1 tand he is at under police upervision.
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