§ MR. FLOWER () Bradford, W.I beg to ask the President of the Board of Trade whether he is aware that in the matter of the bankruptcy of Mr. E. T. 1096 Hooley the liabilities amounted to £1,549,071, and that in the course of the nineteen months during which the estate of the bankrupt has been in the hands of the official trustee only one dividend of 2s. in the £ has been paid to the creditors; and whether he can state what is the cause in the delay in the winding up of the estate.
§ THE PRESIDENT OF THE BOARD OF TRADE (Mr. RITCHIE,) CroydonThe estate is not in the hands of an official trustee, but of a trustee elected by the creditors acting under a committee of inspection. The trustee reports that he has notice of claims amounting to £1,524,505, but that he expects to reduce them by rejection to the extent of about two-thirds. He explains the delay in winding up the estate by the exceptional difficulties attending the investigation of those claims, and by the necessity of awaiting favourable opportunities for the redemption and sale of freehold and leasehold estates and other assets held in mortgage by secured creditors. The mortgaged properties are stated to have included upwards of 200 buildings in course of erection, some of which were not completed till last autumn, and cannot be advantageously disposed of till the spring. The trustee expects to gazette notice of a second dividend before Easter.