7.
The reduction in the amount of dividends declared was essentially attributable to the payment of extraordinary big dividends ($112.7 million) in four insolvency cases in 1993.
Four additional dividends to the large creditors owed more than $100,000 were declared in BCCHK during 1994 amounting to $2,025 million, bringing the total dividends so far to 78 per cent.
One hundred per cent preferential or ordinary dividends were declared in 64 insolvencies. Substantial dividends were also declared to the creditors of First Bangkok City Finance Limited ($12.3 million), Thai Mercantile Development Finance Limited ($3.9 million) and Scotland Insurance Company Limited ($3.4 million).
Funds administered by the Official Receiver at the end of December 1994 (excluding funds pertaining to the BCCHK liquidations) totalled $1,093 million compared with $1,156 million at December 31, 1993, representing a reduction of $63 million.
The Official Receiver also administered US$2.9 million (US$2.1 million at December 31, 1993) and Japanese Yen 270 million (Yen 272 million at December 31, 1993). The BCC funds under the Official Receiver's administration amounted to about $1,949 million ($2,960 million at December 31, 1993).
The total number of active insolvency cases being handled by the Official Receiver's Office at the end of the year was 2,208, representing 1,347 compulsory liquidations and 861 personal bankruptcies, as against a total of 2,062 at the end of 1993.
End/Tuesday, January 10, 1995
12 Municipal Council elections nominations received
A total of 12 nominations of candidates were received today (Tuesday) for the Municipal Council elections on March 5.
The total number of nominations received so far is 65.
The nomination period will last until January 23.