under a scheme of arrangement (as mentioned in paragraph 124) was refunded. Interest on investments and bank interest totalled $121,659, of which $62,896 was transferred to General Revenue in accordance with section 294(3) of the Companies Ordinance. Liquidation expenses amounted to $85,179. Accountants' fees of $202,900 and auditors' fees of $25,000 for one year in The Canton Trust and Commercial Bank, Limited case were covered by a transfer from the Companies Liquidation (C.T.) Account. The assets held at the end of the year totalled $4,524,902, excluding $21,777,472 in the Canton Trust liquidation.
137. Section 285 of the Companies Ordinance provides that if, where a company is being wound up, a liquidator has in his hands or under his control any money representing unclaimed or undistributed assets of the company which have remained unclaimed or undistributed for six months after the date of their receipt, the liquidator shall forth- with pay the money into the Companies Liquidation Account. Sums totalling $271,378 were received from liquidators in voluntary liquida- tions in respect of undistributed or unclaimed assets, and sums totalling $1,993 were returned to liquidators or paid to creditors and shareholders who established their right thereto. At the end of the year unclaimed dividends and returns of capital amounting to $171,701 in respect of voluntary liquidations and $56,870 in respect of compulsory liquidations were still held in the Companies Liquidation Account. Undistributed assets in voluntary liquidations and compulsory liquidations amounted to $420,781 and $2,171,401 respectively.
Fees
138. The Official Receiver's fees and commission charged during the year totalled $281,175 as follows:
...
Bankruptcy Companies Liquidation
...
$131,009
150,166
$281,175
This was $194,142 more than in the previous year. The fees collected in a year are not a reliable index to the amount of work during that year, for by the nature of things they include fees in respect of work done in previous years and do not include many fees payable in respect of current
cases.
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