Registrar-Generals-Department-Annual-report-1971-1972 — Page 50

and in Chambers on 192 occasions in connection with bankruptcies and liquidations. This is the highest number of such appearances in any post- war year, exceeding by 12 the previous high of 180 in 1967-68.

Cases Concluded

130. 30 cases were concluded, 15 bankruptcies and 15 compulsory liquidations, and the Official Receiver was duly released from trusteeship and from the office of liquidator.

Cases carried over from previous years

131. 101 bankruptcies and 112 compulsory liquidations, including the cases mentioned in the preceding paragraph, were carried over from previous years, but in 26 bankruptcies and 29 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

132. 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 liabilities as at 31st March 1972. It will be seen that assets realized during the year totalled $7.92m., a decrease of $4.85m. as compared with the previous year's figure. Once again the major portion of the realizations represented book debts collected, the figure being $7.73m. This is $3.18m. down on the corresponding figure of $10.91m. for the previous year. Realization of land and buildings in completed sales fell also, from $2.04m. in 1970-71 to $190,000. Only two commercial premises now remain, and both have been contracted to be sold.

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133. During the year, funds had accumulated to a level sufficient to enable the Liquidator to pay a third dividend of 15% to the unsecured creditors. This, together with the first and second dividends of 25% and 10% respectively already paid, brought the total dividend payment up to 50%. As on previous occasions, because of the very large number of creditors, payment was effected at a number of payment centres throughout the Colony and was spread over about two months. The Liquidator is greatly indebted to all who rendered assistance by providing premises for use as payment centres, and staff to marshal and control the queues of creditors.

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