§ MR. BRADLAUGH (Northampton)asked the Secretary to the Board of Trade, Whether his attention has been called to the exceedingly large costs and charges often incurred in the administration of bankrupts' estates; and, whether the Government can take any action in the matter?
§ THE SECRETARY (Baron HENRY DE WORMS) (Liverpool, East Toxteth)The cost of administration of bankrupts' estates, as shown by the Board of Trade Reports presented to Parliament, has largely decreased, as compared with those incurred under the Act of 1869 more especially in the case of estates administered by Official Receivers; but it cannot be denied that excessive costs are still incurred recklessly, and without any corresponding benefit to creditors, in some cases where the administration had been conducted by non-official Trustees and Committees of Inspection appointed by the creditors. The control exercised by the Board of Trade over the costs incurred by such Trustees is chiefly limited to seeing that they have been legally incurred, and securing that the creditors are furnished with proper information on the subject. The Official Receiver is precluded by the Bankruptcy Act from acting as Trustee under adjudications where the assets exceed £300; but the desirability of taking steps for the modification of this provision is under consideration. The Government are not, however, prepared to take any action which would interfere with the power of creditors to appoint a non-official Trustee where they deem it advisable to do so.