XN000022-1984-01-31 — Page 11

TUESDAY, JANUARY 31, 1984

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OFFICIAL RECEIVER'S OFFICE RELEASES ANNUAL FIGURES

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THE OFFICIAL RECEIVER'S OFFICE LAST YEAR HANDLED 137 BANKRUPTCIES OF INDIVIDUALS AND 280 WINDING-UP CASES OF COMPANIES, ACCORDING TO THE LATEST ANNUAL STATISTICS OF THE REGISTRAR GENERAL'S DEPARTMENT.

THESE FIGURES REPRESENTED A COMBINED INCREASE OF 35.4 PER CENT OVER 1982 WITH 109 BANKRUPTCIES OF INDIVIDUALS AND 199 WINDING-UP CASES.

BY COMPARISON, THERE WAS AN 82.2 PER CENT INCREASE IN 1982 OVER 1981.

NOTABLE COMPANY FAILURES DURING 1983 INCLUDED: DOLLAR CREDIT AND FINANCING LTD, WHITEHALL FINANCE LTD, SCOTLAND INSURANCE COMPANY LTD, EDA INVESTMENTS LTD, AMERICAN AND PANAMA FINANCE LTD, TETRA FINANCE (HK) LTD, AXONA INTERNATIONAL CREDIT AND COMMERCE LTD, CURRANT FINANCE AND THE CBG GROUP OF COMPANIES, HONG KONG DEPOSIT AND GUARANTEE COMPANY, LO'S MEE KWONG GARMENT FACTORY LTD JOIN IN SHIRTS LTD, CARRIAN HOLDINGS LTD AND CARRIAN INVESTMENTS LTD.

CHINA UNDERWRITERS LIFE AND GENERAL INSURANCE COMPANY LTD WAS IN PROVISIONAL LIQUIDATION LAST YEAR. THE PETITION FOR WINDING UP PRESENTED BY THE REGISTRAR GENERAL, MR NOEL GLEESON, IN HIS CAPACITY AS INSURANCE AUTHORITY WILL BE HEARD IN THE HIGH COURT ON FEBRUARY 6.

IN DECEMBER LAST YEAR A 30 PER CENT INTERIM DIVIDEND OF $40 MILLION WAS PAID TO 12 000 CREDITORS OF TSE LEE YUEN JEWELLERY LTD.

NEGOTIATIONS WERE CONTINUING WITH TWO MAJOR CREDITORS AND A FURTHER DIVIDEND WOULD BE PAID AS SOON AS THESE WERE CONCLUDED, MR GLEESON SAID.

DAMAGED BREAKWATER TO BE REPAIRED ***

WORK ON REPAIRING THE BREAKWATERS AT ABERDEEN AND CHEUNG CHAU TYPHOON SHELTERS, DAMAGED BY TYPHOON +ELLEN+ LAST SEPTEMBER, WILL START ON MONDAY (FEBRUARY 6).

A $5.7 MILLION CONTRACT TO CARRY OUT THE WORK HAS BEEN AWARDED BY THE CIVIL ENGINEERING OFFICE TO DRAGAGES ET TRAVAUX PUBLICS.

THE CONTRACT PERIOD IS FOR 10 MONTHS, BUT A SPOKESMAN FOR THE CIVIL ENGINEERING OFFICE SAID MOST OF THE WORK WOULD BE COMPLETED BY JULY, IN ADVANCE OF THE TYPHOON SEASON.

HE SAID 110 METRES OF THE SOUTH BREAKWATER AT ABERDEEN HARBOUR WERE DAMAGED IN THE TYPHOON.

/AT CHEUNG