Appendix G (1).
REPORT OF THE OFFICIAL RECEIVER AND REGISTRAR
OF TRADE MARKS AND LETTERS PATENT
FOR THE YEAR 1982.
BANKRUPTCY,
New Business.
Forty-two petitions were presented during the year, fifteen by creditors, and twenty-seven by debtors. The assets collected amounted to over $397,000.00. The liabilities, as estimated by the debtors, exceeded $991,000.00.
2. A feature of the year under review has been the more frequent resort to bankruptcy of clerks, and other small salaried employees hopelessly involved with money lenders, for relief. Provided that such debtors retained their employment, and agreed to make a reasonable contribution from their salaries for the benefit of their creditors, it has been the practice not to oppose a receiving order on the ground of absence of the necessary assets for division among unsecured creditors, under section 8 (1) of the Bankruptcy Ordinance.
Fees.
3. The fees received for Official Receiver's commission, and possession fees, amounted to $14,021.17. Possession fees were, for the first time, paid direct by this office to revenue, instead of through the Registrar, Supreme Court, and are therefore included.
Discharges.
4. Four discharges were granted during the year, all subject to suspension, one for two years, one for one year, one for six months, and one for three months. No applications for discharge were refused.
Rules.
5. New bankruptcy rules were made by the Chief Justice, and approved by Legislative Council on the 10th November. They came into force on the 1st January, 1938.
Companies Winding-Up.
6. One compulsory winding up order was made during the year, and an order sanctioning a scheme of arrangement was made in another case.
Appendix G (1).
REPORT OF THE OFFICIAL RECEIVER AND REGISTRAR
OF TRADE MARKS AND LETTERS PATENT
FOR THE YEAR 1982.
BANKRUPTCY,
New Business.
Forty-two petitions were presented during the year, fifteen by creditors, and twenty-seven by debtors. The assets collected amounted to over $397,000.00. The liabilities, as estimated by the debtors, exceeded $991,000.00.
2. A feature of the year under review has been the more frequent resort to bankruptcy of clerks, and other small salaried employees hopelessly involved with money lenders, for relief. Provided that such debtors retained their employment, and agreed to make a reasonable contribution from their salaries for the benefit of their creditors, it has been the practice not to oppose a receiving order on the ground of absence of the necessary assets for division among unsecured creditors, under section 8 (1) of the Bankruptcy Ordinance.
Fees.
3. The fees received for Official Receiver's commission, and possession fees, amounted to $14,021.17. Possession fees were, for the first time, paid direct by this office to revenue, instead of through the Registrar, Supreme Court, and are therefore in- cluded.
Discharges.
4. Four discharges were granted during the year, all subject to suspension, one for two years, one for one year, one for six months, and one for three months. No applications for discharge were refused.
Rules.
5. New bankruptcy rules were made by the Chief Justice, and approved by Legislative Council on the 10th November. They came into force on the 1st January, 1938.
Companies Winding-Up.
6. One compulsory winding up order was made during the year, and an order sanctioning a scheme of arrangement was made in another case.
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