XN000022-1987-06-05 — Page 5

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FRIDAY, JUNE 5, 1987

THE SENATE, ON THE OTHER HAND, IS RESPONSIBLE FOR THE PLANNING,

ACADEMIC OF

PROGRAMMES AND ALL REVIEW

ACADEMIC DEVELOPMENT AND MATTERS.

AND MEMBERSHIP OF AND SENATE: THE THE BOARDS OF THE CONVOCATION;

BE PROVIDED

OTHER DETAILS REGARDING THE ADMINISTRATION THE UNIVERSITY; THE CONSTITUTION OF THE COURT CONSTITUTION, POWERS AND FUNCTIONS OF THE FACULTIES, FACULTIES, THE SCHOOLS, THE BOARDS OF SCHOOLS AND THE CONFERRING OF DEGREES AND OTHER ACADEMIC AWARDS WILL FOR IN THE STATUTES, TO BE MADE BY THE COUNCIL OF THE UNIVERSITY.

THE BILL WILL BE INTRODUCED INTO THE

FOR

LEGISLATIVE COUNCIL COMPLETING THE LEGISLATIVE FIRST READING ON JUNE 17, WITH A VIEW TO PROCESS BEFORE THE END OF THE CURRENT LEGISLATIVE COUNCIL SESSION.

INVESTIGATION UNDERWAY ON TWO FINANCE COMPANIES

MR NOEL M. GLEESON, THE OFFICIAL RECEIVER, CONFIRMED THAT HE WAS APPOINTED AS LIQUIDATOR OF FINANCE LIMITED IN JULY 1986 AND THAI MERCANTILE LIMITED IN SEPTEMBER 1986, ON WINDING-UP PETITIONS FINANCIAL SECRETARY FOLLOWING REPORTS BANKING.

TODAY

(FRIDAY)

FIRST BANGKOK CITY DEVELOPMENT FINANCE PRESENTED BY THE MADE BY THE COMMISSIONER OF

WHO THE FORMER PRINCIPALS OF THE COMPANIES WERE THAI NATIONALS

THE OFFICIAL RECEIVER AND LEFT HONG KONG BEFORE THE APPOINTMENT OF THEY HAVE NOT MADE THEMSELVES AVAILABLE FOR INTERVIEW SINCE THAT TIME.

MANY FINANCIAL RECORDS AND ACCOUNTS HAD BEEN REMOVED COMPANIES' OFFICES.

FROM THE

DETAILED INVESTIGATION INTO THE OFFICIAL RECEIVER HAS MADE A THE AFFAIRS OF THE COMPANIES AND THIS INVESTIGATION IS CONTINUING.

LIABILITIES

OF

CITY

MILLION.

FIRST BANGKOK

FINANCE THE ESTIMATED

THAT OF THAI MERCANTILE LIMITED ARE APPROXIMATELY $402 MILLION AND DEVELOPMENT

$139

FINANCE LIMITED

ARE

APPROXIMATELY

THE OFFICIAL RECEIVER HAS ALREADY REALISED AND FURTHER INVESTIGATIONS ARE BEING PURSUED.

SUBSTANTIAL ASSETS

15