G (1) 1
REPORT OF THE OFFICIAL RECEIVER AND
REGISTRAR OF TRADE MARKS AND LETTERS
PATENT FOR THE YEAR 1928.
BANKRUPTCY.
New Business.
1. New bankruptcy business during the last year has been considerably smaller in volume than that during 1927, the assets for distribution among creditors only amounting to a sum of approximately twenty-six thousand dollars, as against four hundred and forty-nine thousand dollars in 1927, and the estimated liabilities to two hundred and seven thousand, as against two million seven hundred and eighty-eight thousand dollars.
Fees.
2. The fees received for Official Receiver's commission, however, amounted approximately to twenty thousand dollars, constituting a record for this office, at any rate, during the last 10 years. This is accounted for by the revenue derived from winding up the large estates which went into bankruptcy during the year 1927, and the distribution of which had not been completed during that period.
Bankruptcy discharge.
3. Nothing of particular significance occurred in bankruptcy administration during the period under review, but the pronouncement made at the beginning of the year by the Chief Justice, that it was intended in future to enforce the provision, peculiar to the local legislature, contained in sub-section (2) of section 27 of the Ordinance, (which provides in effect that where a debtor does not of his own accord apply for his discharge within a reasonable time, the Court may compel him to do so) will probably have considerable effect, and will, except in cases of genuine misfortune, make bankruptcy a rather less attractive and more hazardous undertaking than hitherto has been the case. Many bankruptcy offences only arise when discharge is applied for.
G (1) 1
REPORT OF THE OFFICIAL RECEIVER AND
REGISTRAR OF TRADE MARKS AND LETTERS
PATENT FOR THE YEAR 1928.
BANKRUPTCY.
New Business.
1. New bankruptcy business during the last year has been considerably smaller in volume than that during 1927, the assets for distribution among creditors only amounting to a sum of approximately twenty six thousand dollars, as against four hundred and forty nine thousand dollars in 1927, and the estimated liabilities to two hundred and seven thousand, as against two million seven hundred and eighty eight thousand dollars.
Fees.
2. The fees received for Official Receiver's commission, however, amounted approximately to twenty thousand dollars, constituting a record for this office, at any rate, during the last 10 years. This is accounted for by the revenue derived from winding up the large estates which went into bankruptcy during the year 1927, and the distribution of which had not been com- pleted during that period.
Bankruptcy discharge.
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3. Nothing of particular significance occurred in bankruptcy administration during the period under review, but the pro- nouncement made at the beginning of the year by the Chief Justice, that it was intended in future to enforce the provision, peculiar to the local legislature, contained in sub-section (2) of section 27 of the Ordinance, (which provides in effect that where a debtor does not of his own accord apply for his discharge within a reasonable time, the Court may compel him to do so) will probably have considerable effect, and will, except in cases of genuine misfortune, make bankruptcy a rather less attractive. and more hazardous undertaking than hitherto has been the case. Many bankruptcy offences only arise when discharge is applied for.
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