Appendix G (1).
REPORT OF THE OFFICIAL RECEIVER AND REGISTRAR OF TRADE MARKS AND LETTERS PATENT FOR THE YEAR 1933.
BANKRUPTCY.
New Business.
Forty-one petitions were presented during the year, twenty-eight by creditors, and thirteen by debtors. The assets collected amounted to over $406,000. The liabilities, as estimated by the debtors, exceeded $1,409,000, as against figures of $397,000 and $991,000 in 1932, an increase over the previous year of $9,000 and $418,000 respectively.
2. Fewer small salaried employees filed petitions during the year under review, but on the other hand five Chinese Banks, three pawnshops, three silk stores and three knitting factories, all comparatively large concerns, failed, and this may be taken as an indication of the depressed conditions of trade in Hong Kong.
Fees.
3. The fees received for Official Receiver's commission, and possession fees, amounted to $24,199.34. Possession fees were, again, paid direct by this office to revenue, instead of through the Registrar, Supreme Court, and are therefore included. A higher scale of fees was imposed by the new Rules referred to in paragraph 5.
Discharges.
4. Seven discharges were granted during the year, three subject to suspension for three months, one to suspension for six months, one to suspension for nine months, one to suspension for twelve months, and one subject to consent to judgment by the Official Receiver being entered against the applicant. No applications for discharge were refused.
Rules.
5. The new bankruptcy rules made by the Chief Justice, and approved by Legislative Council on the 10th November, 1932, came into force on the 1st January, 1933.
Companies Winding-Up.
6. Three compulsory winding-up orders were made during the year, as against one the previous year, and one petition was dismissed.
Appendix G (1).
REPORT OF THE OFFICIAL RECEIVER AND REGISTRAR OF TRADE MARKS AND LETTERS PATENT FOR THE YEAR 1933.
BANKRUPTCY.
New Business.
Forty-one petitions were presented during the year, twenty- eight by creditors, and thirteen by debtors. The assets collected amounted to over $406.000. The liabilities, as estimated by the debtors, exceeded $1,409,000, as against figures of $397,000 and $991,000 in 1932, an increase over the previous year of $9,000 and $418,000 respectively.
2. Fewer small salaried employees filed petitions during the year under review, but on the other hand five Chinese Banks, three pawnshops, three silk stores and three knitting factories, all comparatively large concerns, failed, and this may be taken as an indication of the depressed conditions of trade in Hong Kong.
Fees.
3. The fees received for Official Receiver's commission, and possession fees, amounted to $24,199.34. Possession fees were, again, paid direct by this office to revenue, instead of through the Registrar, Supreme Court, and are therefore included. A higher scale of fees was imposed by the new Rules referred to in paragraph 5.
Discharges.
4. Seven discharges were granted during the year, three subject to suspension for three months, one to suspension for six months, one to suspension for nine months, one to suspension for twelve months, and one subject to consent to judgment by the Official Receiver being entered against the applicant. No applications for discharge were refused.
Rules.
5. The new bankruptcy ruies made by the Chief Justice, and approved by Legislative Council on the 10th November, 1932, came into force on the 1st January, 1933.
Companies Winding-Up.
6. Three compulsory winding-up orders were made during the year, as against one the previous year, and cne petition was dismissed.
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