§ CAPTAIN NORTONI beg to ask the President of the Board of Trade whether it has been brought to his notice that creditors in bankruptcy cases suffer loss through delay in dealing with these cases, seeing that the interest goes to the Government and not to the creditors; whether he is aware of a case where from £40,000 to £50,000 was received by the Official Receiver in January, February, and March of 1900, and that no dividend has as yet been paid to the creditors, who thus, in addition to the loss of their money, are kept out of what remains, and also out of what these sums have earned as interest; and whether he can see his way to ameliorating this state of affairs.
§ MR. GERALD BALFOURI am not aware of any undue delay in the official administration of bankruptcy 65 cases resulting in loss to creditors. The investment of funds which cannot immediately be distributed is made pursuant to Section 76 of the Bankruptcy Act, 1883, and the dividends thus derived are applied solely to meeting the expenses of bankruptcy administration, and are taken into account in fixing the fees payable in respect of the bankruptcy proceedings. I cannot identify the case referred to, which I should probably have been able to do had it been in the hands of an official receiver.
§ CAPTAIN NORTONBut will not the right hon. Gentleman take steps to ameliorate this state of things?
§ MR. GERALD BALFOURI will have any specific cases inquired into.
§ CAPTAIN NORTONBut I am raising the cases as a whole, of the long detention of these funds.