Tuesday, January 16, 1973
FIRST DIVIDEND TO MING TAK BANK CREDITORS
Arrangements For Payment Completed
Arrangements for the payment of a first dividend to creditors of
the Ming Tak Bank have now been finalised, Mr. W. Hume, the Official Receiver
and Trustee, announced today.
Mr. Hume recalled that in his latest circular letter to creditors
dated November 30, 1972 he said that he proposed to pay a first dividend of
not less than 20 per cent to all unsecured creditors before the next Chinese
New Year provided the necessary arrangements could be made in time.
"Creditors will be pleased to learn", Mr. Hume said, "that it will
in fact be possible to pay a dividend of 25 per cent."
"However, although almost all depositors will be paid before Chinese
New Year, it will unfortunately not be possible to pay some other creditors
until about the end of February," he added.
Mr. Hume explained that the creditors who will be paid before
Chinese New Year are those depositors, whether on current, savings, deposit,
fixed deposit or other account, who can produce their account books or deposit
receipts (except for a comparatively small number to whom it has been necessary
to send proofs of debt for completion), and also the holders of gift coupons
who can produce the coupons.
The dates and times of payment will be notified in the Government
Gazette and advertised in the public notices columns of several newspapers
on Friday, January 19.
/Arrangements,
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