CO129-448 - Governor Sir May - 1918 [4-6] — Page 313

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Faclosure 1.

SHORT HISTORY OF THE

REC

C.O

34019

311

CASE. RES JUL 18)

Carpmael v Po Yuen and others,

up to the date May, 23rd. 1917.

On March, 16th. 1914 a Petition was filed to wind up

the Yue Hing Company.

This was a company formed in 1912 to deal in opium of which the Capital was $200,000 half paid up on forma-

-tion.

The petition alleged fraud.

On March, 17th, en Order appointing the Official

Receiver provisional liquidator was made.

On March, 18th. I assumed duty as Official Receiver

and found by enquiries from two banks that

a. 177 cheste of opium to the value of well over a

million dollars had been transferred from the Company to the firms of two directors who were opposing the petition, and

b.

that one of the statements made by these two

directors as to payment of monies to the Company 'e

account was untrue.

On March, 23rd. 1914 I therefore commenced this action, in order, if possible, to prevent further dealings in the opium.

On May, 11th. 1915 a winding up order was made the Judge remarking that the transactions of the directora

were open to the gravest suspicion and required the

fullest investigation.

There was an appeal from this Order which was affirm-

-ed by the Full Court on March, 29th. 1916.

The