CO129-430 - Others & Individuals - 1915 — Page 409

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ATWY

GONAM

MAPPIN & WEBB. LTD.

158-162, OXFORD STREET, LONDON, W.

391

PAGE..............

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business to better advantage to Creditore than it could be

dealt with in Hong Kong.

Furthermore the English Creditors consider they

should have the opportunity of taking over the business at

the price suggested to be accepted locally, and that the

conduct of affairs should be placed in the hands of a

competent authority appointed by them.

In a letter dated Hong Kong 31st March, the present

Liquidators offer to prepare and submit accounts if paid their

professional fee. We consider this suggestion subject to

grave criticism as you verbally confirmed our information that

they are being remunerated 24% on all receipts irrespective of

the loss in Trading or the loss to the Creditors.

We have no intention of engaging their services and

we respectfully submit that from the point of view of

English Trade this matter has been deplorably handled and that

as it may not be competent for us to apply for the appointment

of officials to protect Creditors' interests, the management

of affairs should be immediately transferred to a Liquidator

approved by the Creditors.

If you desire a precis of the whole correspondende

touching the matter to forward to Hong Kong, we shall be

X

as reenacted

She 5/11) of orde 28 of 1914

by seay of over 30 offert JJA.

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