Kinematograph year book : 1931 (1931)

Bankruptcies , Liquidations, etc. 193 his insolvency to losses sustained in ventures in which he was interested, and to the fact that his interest in the film " Big Business " (not yet released) has no present realisable value, and to ill-health. The examination was ' oncludcd. George GibbS, company director, lo-ii, I. riteriun Chambers, Jermyn Street, London. The public examination of this debtor was held at the London Bankruptcv Court. The only liability is £'429, due to the petitioning creditor, and no assets are disclosed. Replyine to Mr. Wheeler, Official Receiver, the debtor said that in 1927 he became a director of Universal Productions, Ltd., which promoted Anglo-International Film Co., Ltd. The capital was to be a million and threc-ciuarters, and the company was intended to be a sort of merger of German film companies. Witness, acting on behalf of the proposed company, instructed Messrs. Price, Wattrhouse and Co. to inspect and report upon a number of kinema theatres. The flotation, however, was abandoned ; Jlessrs. Price, Waterhouse and Co. obtained judgment against him personally, and instituted these bankruptcy proceedings. Further questioned by Mr. Wheeler, the debtor ?aid he held a one-third interest in the world rights of the Horst Colour Film process, which was owned by Commercial Enterprise, Ltd., of which ccmpanv he was also a director. Negotiations were in progress for the sale of the process for some £100,000, and he held a document certifying that he was the holder of a onethird interest in the rights. He had not disclosed that document to the Official Receiver because he placed no present value upon it. He had not been bankrupt before. A solicitor in Court identified the debtor as having been bankrupt under the name of Sandford Rich, and the witness admitted that two previous failures were recorded against him in the name of Rich or Reich. His name was originally Reich, and was changed to Rich by Deed Poll in 1915. Since 1919 he had been known by the trading name of George Gibbs, and he had not been bankrupt in that name. The examination was adjourned till July 24, to enable the Official Receiver to make inquiries into the previous failures. Norman Healing Barger, The Lyric, King Street, Carmarthen ; The Palace, Queen Street, Pembroke Dock, Pembrokeshire ; late The Fmpire Theatre, Blue Street, Carmarthen , kinema proprietor. The statement of affairs, which show'ed gross liabilities of £3,827 17s. 5d ranking liabilities of £1,272 8s. 2d., assets totalling £599 7s. lod., and a deficiency of £673 os. 4d., was submitted by this debtor when he appeared at the Guildhall, Carmarthen, recently, for his public examination. Owing to his overhead (barges exceeding his gross profits he had been forced to file his petition. He would have been all right if he had not had to put in talking machine apparatus and renew the seats in his theatres. The hearing was concluded. Robert Edgar Booth, Ludlow House, and the Coliseum Theatre, Gorleston-on-Sea, Suffolk, cinema proprietor. According to the statement of affairs previously produced, there were liabilities of £2,901 IS. lod., and a deficiency of £2,777 is. 6d . The debtor said that when he leased the Palace Theatre at Gorleston he had not gone very deeply into the condition of the building, although he was aware that he was responsible for its r epair. He said that he had done a considerable amount of replacement and redecorating, and had made improvements. He attributed his failure to litigation costs. The examination was closed. Gerald Malvern, 52, Shaftesbury Avenue, London. On March 28 the above debtor attended before Mr. Registrar Mellor, at the London Bankg ruptcy Court, for examination on accounts showing unsecured creditors £445 and assets £200. In June, 1927, he assisted in the formation of British Controlled Films, Ltd., and was appointed subsequently technical managing director at a salary of £1,000 a year. He remained with the company until August, 1929 when, owing to differences with his co-director , he was dismissed. He commenced an action against the company for arrears of salary and damages for breach of contract. The action was heard after the receiving order was made, and he succeeded and obtained damages. He attributed bis insolvency to his bability under a judgment in respect of a promissory note signed jointly with another person for which h e had received no consideration, and to nonpayment of salary due from the British Controlled Films, Ltd. The promissory note was for £50 ; he had decided to go into business with another person, and the money was used for the formation of a company, but the matter fell through. At the time he signed the note he could have paid his debts in full. The examination was ordered to be concluded . Sydney Joseph Flatau and Barnett Freedman, 6, Conduit Street, W., trading as J. Flatau and B. Freedman, and as J. Flatau, Temperance Hall Cinema, Northampton, kinema proprietors and company directors, attended on January 22, at the London Bankruptcy Court for public examination. The accounts filed in the proceedings showed total liabilities £101,609, of which £40,651 is unsecured, and assets estimated to produce £40 . It appeared from questions put to the debtors that they entered into partnership in August, 1912, primarily to carry on business as kinema proprietors, but on terms that each partner was free to enter into business transactions in his own name on behalf of the partnership. In all transactions carried out in this way each partner has been cognisant of the transaction of the other. The commencing capital was £600. Debtors were questioned at considerable length, and the examination of both debtors was finally closed. G. G. Glavany, film producer, 17, Shaftesbury Avenue, London, W.i. On Thursday, November 20, in the London Bankruptcy Court, the public examination was held of Giuseppe Guarino Glavany. The debtor's statement of affairs shows liabilities £7,668 (ranking £5.573) and estimated assets £925. , ^ In March of last year debtor produced " Downstream," which was sold to a limited company. As, however, the film was not made by a British subject, the necessary certificate for quota purposes was not granted. In September, 1929, the mortgagees gave instructions for the film to be shown as a foreign production, but, owing to the introduction of the talkies it was not a success. Judgment for £546 was obtained against him for goods supplied and costs, and the proceedings in bankruptcy ensued. The examination was concluded.