TABLE XXVII
OFFICIAL RECEIVER (IN BANKRUPTCY) ACCOUNT
STATEMENT OF RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31ST MARCH 1970
(subject to audit)
Cr.
$
609
555,521
556,130
$4,181,280
RECEIPTS
PAYMENTS
Balance as at 1st April 1969:
Cash in hand
Cash at bank...
Payments to creditors:
$
188
296,815
Preferential creditors
Deposits for sundry purposes...
$ 297,003
3,600
Ordinary creditors
37,127
123,354
$ 160,481
Expenses on administration of bankrupt estates
302,778
Realization of bankrupt assets
3,574,530
Refund of deposits for sundry purposes
Interest on Fixed Deposits and Deposits at Call Refund of deposits, rates, tax and maintenance fees, etc. due to The Ming Tak Bank Fixed Deposits encashed
97,106
Official Receiver's fees
3,494
26,386
Payments re The Ming Tak Bank:
39,041
Architect's fee
S
Minor construction and maintenance
170,000
Repayment of Government Loan
1,000
20,425
500,000
Interest on Government Loan
500,000
1,021,425
Transfer to revenue on release of trusteeship
7,505
Transfer to Bankruptcy Estates Account, Supreme Court...
18,081
Amount placed on Fixed Deposit
re Ng Yee Hing Weaving & Dyeing Factory
2,085,000
Balance as at 31st March 1970:
Cash in hand...
Dr.
93
$4,181,280
Cash at bank...
STATEMENT OF ASSETS AND LIABILITIES AS AT 31ST MARCH 1970
LIABILITIES
ASSETS
Creditors' Deposits for sundry purposes Less: expenses paid therefrom
S
22,633
Fixed Deposits:
Sundry creditors
2,494 $ 20,139
2,093
re Ng Yee Hing Weaving & Dyeing Factory Others...
$2,085,000
Deposits at Call
1,500,000 $ 3,585,000
150,000
---
---
Unclaimed dividends
Undistributed assets of bankrupt estates
Loan from Government re The Ming Tak Bank
Less: repayment to-date
-337,478
Advance Account:
3,931,594
The Ming Tak Bank
$9,688,735
Other bankrupt cases
174
9,688,909
$10,038,000
Balance as at 31st March 1970:
1,100,000
Cash at bank
$ 555,521
Cash in hand
609
556,130
$ 8,938,000
Add: arrears of interest
$
750,735
9,688,735
$13,980,039
$13,980,039
Notes: (1) The above statements include only such assets of Bankrupt Estates as have been realized. (2) The advances to The Ming Tak Bank have been made out of moneys made available by way of loan (on mortgage or otherwise secured) by the Hong Kong Government and are recovered on realization of the Bank's properties.
W. HUME,
Registrar General,
(Official Receiver). 5th June 1970.
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