Registrar-Generals-Department-Annual-report-1970-1971 — Page 105

ASSETS

Cash and Bank balances:

Cash in Hand:

$ 278,892

278,607 $

Petty Cash Accounts

$

2,500

285

Unclaimed Dividend

Account

Current Accounts with Bankers:

Companies Liquidation

(C.T.) Account:

---

2,068 $

4,568

statement of affairs (as adjusted)

HK$150,570,072

Current Account

$

First

Second

Unclaimed Dividend Account

233,110

11,896

Dividends declared

Dividend Dividend 25% 10% $37,670,937 $15,085,426

245,006

Deposits with Bankers:

Less: Amounts claimed and

Fixed Deposits Call Deposits

$20,478,506 1,049,392

21,527,898 $21,777,472

paid to date (less

recoveries)

+

$

37,282,021 14,282,295 388,916 $ 803,131

1,192,047

Deposits received from licensees and tenants of premises Excess of assets over liabilities as at 31st March 1971

3,400

20,581,740

$21,777,472

$21,777,472

Preferential creditors:

Total per statement of affairs,

(as adjusted)

...

Less: Amounts claimed and paid to date

Unclaimed dividends to un-

secured creditors:

Unsecured creditors per

95

Notes: (1) A sum of $500,000 included in Call Deposits is held by Bankers against surety given to the Court on behalf of the Liquidator in respect of a contingent liability to refund certain payments received for account of a debtor. As at 31st March 1971, such payments amounted to $175,000.

(2) The foregoing Balance Sheet reflects:

(a) Only such Assets as had actually been realized up to 31st March 1971.

(b) Amounts due to Preferential and Unsecured Creditors irrespective of whether their claims had been admitted as at 31st March 1971. (c) Adjustments found, since 12th May 1965, to be necessary in respect of the accounts of Preferential and Unsecured Creditors reported in the Statement of Affairs as at that date.

W. HUME, Registrar General, (Official Receiver). 25th June 1971.

TABLE XXVII

OFFICIAL RECEIVER (IN BANKRUPTCY) ACCOUNT

(subject to audit)

STATEMENT OF RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31ST MARCH 1971

Cr.

RECEIPTS

Balance as at 1st April 1970:

PAYMENTS

Payments to creditors:

Cash in hand...

$

Cash at bank

609

555,521

Preferential creditors...

$

$ 556,130

Ordinary creditors

28,203

2,490,168

$2,518,371

Deposits for sundry purposes .......

Realization of bankrupt assets

6,050

1,829,014

Expenses of administration of bankruptcy estates

337,889

Official Receiver's fees

131,009

Interest on Fixed Deposits and Deposits at Call Refund of deposits, rates, tax and maintenance fees, etc. due to The Ming Tak Bank Fixed Deposit encashed

181,023

Payments re The Ming Tak Bank:

Architects' fees

$ 3,000

Minor construction and maintenance

10,463

43,998

Repayment of Government Loan

400,000

C

Payment of interest on Government Loan..

400,000

813,463

2,085,000

Refund of sundry deposits

3,110

Transfer to revenue on release of trusteeship

2,367

Transfer to Bankruptcy Estates Account, Supreme Court...

119,197

Amount placed on Fixed Deposit

250,000

Balance as at 31st March 1971:

Cash in hand

S

253

Cash at bank.

525,556

525,809

$4,701,215

$4,701,215

Dr.