Public Examinations and Court Work
126. A record number of eighteen Public Examinations and five Private Examinations were held. Altogether, Legal Officers of the Depart- ment appeared in Court and in Chambers on 117 occasions in connection with bankruptcies and liquidations.
Cases Concluded
127. Six cases were concluded, three bankruptcies and three compul- sory liquidations, and the Official Receiver was duly released from trustee- ship and from the office of liquidator.
Previous cases still outstanding
128. Ninety-eight bankruptcies and one hundred and seven compulsory liquidations, including the cases mentioned in the preceding paragraph, were carried over from previous years, but in thirty-eight bankruptcies and forty-one compulsory liquidations either a final dividend had already been paid or there were no assets available for distribution and only formal closure proceedings were required.
The Canton Trust and Commercial Bank, Limited
129. Table XXVI shows the receipts and payments for the year (as well as receipts and payments since the beginning of the liquidation on 12th May 1965), and also contains a limited statement of assets and liabili- ties as at 31st March 1971. It will be seen that assets realized during the year rose to $12,776,433, an increase of $1,853,408 over the previous year's figure. Once again the major portion of the realizations represented book debts collected, the figure being $10,917,890. This is $2,137,439 up on the corresponding figure of $8,780,451 for the previous year. Realization of land and buildings in completed sales rose also, from $1,907,218 in 1969-70 to $2,049,000.
130. During the year the decision was taken to write off the remainder of the debts under $2. From the following breakdown of debts due at the commencement of the liquidation, it will be seen that of the original 2,347 debts 1,085 are still outstanding. In many of these cases, however, partial recovery has been effected or payments are being made on account.
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