Registrar-Generals-Department-Annual-report-1970-1971 — Page 104

TABLE XXVI

THE CANTON TRUST AND COMMERCIAL BANK LIMITED (IN LIQUIDATION)

COMPANIES LIQUIDATION (C.T.) ACCOUNT

(subject to audit)

STATEMENT OF RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31ST MARCH 1971 (WITH TOTALS FOR THE PERIOD 12TH MAY 1965 to 31st MARCH 1971)

Dr.

RECEIPTS

PAYMENTS

Year ended 31st March 1971

Period from

Year ended

12th May 1965 to 31st March 1971

31st March 1971

Cr.

Period from 12th May 1965 to 31st March 1971

Balance as at 31st

March 1970:

Payments for preservation of assets:

Cash in Hand

...$

Balances with Bankers:

Current Accounts

4,945

1,177,452

Payments to complete

purchases

$

247,270

Property Tax

400

57,451

Fixed and Call

Rates (less refunds

Deposits

4,900,000

received)

(1,683)

197,600

Crown Rent

14

1,291

$ 6,082,397

$

Insurance of buildings

Proceeds of property

Realization of Assets:

Cash and Bank Balances $

realized:

Land and Buildings

Deposits on un-

completed Sales Other Fixed Assets Book Debts collected Stamp Duty recovered

2,049,000

and contents

2,319

33,442

$10,400,082

Maintenance Expenses...

8,485

105,363

S

9,535

S

6,305,578

Expenses of Petition and

Statement of Affairs

642,417

47,095

(192,750)

2,293

10,917,890

29,000

506,590

Expenses of realization of

55,842,375

assets:

4,102

On realization of Assets $ On recovery of Book

35

12,776,433

73,087,727

Debts (less recoveries)

50,279

S 16,407

182,116

Property Rental received

Interest received:

44,974

488,282

50,314

198,523

Expenses of collection of Book Debts (recoverable from Debtors)..

47,799

1,567,480

On Deposits with Bankers

On Book Debts.

551,637

1,851,488

On Deposits re Sale of Property

$ 1,319,564

5,433,160

34,690

Miscellaneous payments (temporarily held in Suspense Account)

(850)

8,160

Payments to Creditors:

2,403,125

6,787,414

Preferential Creditors ...$

$ 278,607

Unsecured Creditors

Disbursements recovered

7,257

Rental Deposits

refunded

800

5,020

Miscellaneous receipts

(11,831)

$21,295,098

16,238

Dividends Paid (less

adjustment)

$80,386,918

First

(4,026)

Second

70,545

etc.:

Sums collected

Collection for beneficiaries of Bills for Collection,

Less: Payments to beneficiaries

Deposits received from Licensees and Tenants (less refunded)

Loans from Hong Kong Government:

Sums borrowed to make payments to Creditors S

Less: Sums repaid to

date

37,282,021 14,282,296

67,319

51,847,944

...$

$

10,437

10,437

Drawings by Official Receiver on account of fees

227,900

2,118,587

Legal Expenses in Special Civil Action Interest paid on loan from Hong Kong Government

42,700

55,535

1,695,579

(15,880)

3,400

Expenses of Liquidation to date

$

227,897

672,614

2,270,498

$60,451,818

Balance as at 31st March 1971:

$22,500,000

22,500,000

Cash in Hand

...S

Balances with Bankers:

Proceeds of Sale of a

Current Accounts Fixed and Call Deposits

---

4,568

245,006

21,527,898

S 4,568

245,006

21,527,898

Debtor's Property held

in suspense pending

completion:

Receipts

Less: Expenditure

21,777,472

21,777,472

...$ 1,190,120

19,252

$ 1,972,240

133,268

1,170,868

$22,450,086

1,838,972

$82,229,290

$22,450,086

$82,229,290

94

TABLE XXVI—Contd.

STATEMENT OF ASSETS AND LIABILITIES AS AT 31ST MARCH 1971

LIABILITIES