The fees and the moneys go direct to several Trustees and the Official Receiver when, in default of other Trustees being appointed as Trustee of the Bankrupt Estate. The amount of work undertaken by the Official Receiver is considerable.
This is a form of audit that is now half, at the expense of the hard, I click on the S.C., Re. The audit of Bankruptcy accounts is difficult and laborious, and under present conditions it is not satisfactory to expect that the important step of auditing the accounts should be done by the Auditor without extra pay, beyond the normal duties of his office.
Bankruptcy has nothing to do with the funds of the Court. The Official Receiver is the agent of the Creditor, and sums are sent forth by warrant of the Court. In this opinion, I concur, and I think Sir P. to inform him in writing.
I would send a copy of this to Sir W. Robinson for his views on the question, and that suggested by the Commissioner.
MINUTE PAPER. 393
Whether the Hong Kong Order should not be amended in the direction of creating a Bankruptcy Department, as in England, with a view to economising the fees, dealing in the most satisfactory manner with the money in the hands not only of the Official Receiver but of the private individuals acting as Trustees, by making them all hand over to a general account, instead of leaving them to handle several small funds; ensuring that the estates are faithfully and properly administered; which it appears is not the typical case upon which the Official Receiver then reports.