Kinematograph year book : 1931 (1931)

Bankruptcies, Liquidations, etc. 195 i to arrears, and various reii'er creditors i.Llained judgment on February 14. The debenture holder appointed a receiver and manager. 'i'he faihire of the company is attributed by Harry Pearl to the high rate of lilm hire, and tlie rather poor attendances. Owing to the statement of affairs not having been yet filed, the Official Receiver has no information as to tlic assets and liabilities. Resolutions were passed in favour of A. H. Partridge, C.A., of Warwick Court, Holborn, being nominated as liquir'ator. British Controlled Films, Ltd., 22, Basinghali ?freet, London. The statutory first meeting of the creditors and shareholders of British Controlled Films, lid., were held on March 21, before E. T. A. I'hillips, Official, Receiver. The winding-up <' rder was made on February 24, upon a creditor's petition, the company's registered officer being at 22, Basinghali Street, E.C. The chairman reported that the company was incorporated on June 2, 1927, as a private company, to carry on business as distributors of and dealers in kinematograph films, etc. 'i lie nominal capital was £25,000, in shares of £1 each, and 10,547 shares had been issued all for cash. A draft statement of affairs had been lodged showing liabilities £15,960, against assets £527, consisting chiefly of the company's interest, valued at £500, in a German film company. Jn addition there were some films in Egypt and .Scandinavia which might bring in £120 to the estate. The failure of the company was attributed to the exhaustion of its funds in attempts to form a film distributing organisation . The liquidation was left in the hands of the Official Receiver and a committee of inspection. Thomassin Manufacturing Co., Ltd., inventors and man ifarturers of ''Naturctone" sound system, 40, 43, Kirby Street, Hul'oorn, E.C.i. -A meeting of the creditors was held on .^^pi il 16, when Mr. Thomassin, mana.ging director, reported that the company was registered on May 2, last, with a capital of £300, to carry on the business of kinematograph apparatus manufacturers and acquire the Fox water heater and also to tlevelop certain ideas with regard to talking picture apparatus. The capital of £300 was not sufficient for a programme of that description, and their original programme provided for a sum of about £2,000. Certain demonstrations were given with regard to the sound portion of the apparatus, and afterwards in the synchronising method, but the company were reiiuired to make an apparatus to take .-imerican films. .\n apparatus was fitted in the London Hippodrome, whilst various kinemas had been equipped with the disc apparatus. After a time the company found themselves short of working capital, and they were being pressed by creditors, and it was decided to call a meeting. Trade liabilities amounted to £2,671 2s. 6d., \vhilst there were other claims amounting to £3,872 15s. The assets consisted of stock, £2,161, and there was a deficiency of £4,392 17s. 6d. Mr. Thomassin thought there was still a large future for the apparatus,land if it was possible to carry on in the future, profits woukl be made. It was eventually decided to appoint E. W. \ iney, C.A., of Mansion House Chambers, Queen N'ictoria Street, as liquidator, with a committee of inspection. Metropolitan Electric Theatres, Ltd., 225, High Road, Streatham, London, S.W.i6. — Pursuant to Section 238 of the Companies Act, 1929, a meeting of creditors interested herein was held on August 6 at the Abercorn Rooms, Bishopsgate, H.C., when a statement of affairs was produced showing liabilities of £r3,775 3s. 5d. and net assets of £120 os. 6d., or a deficiency of £13,665 2s. I id. It was stated that there were, in addition, unascertained liabilities in respect of uncompleted contracts with film renters, and R.C.A. Inc., for the sound film equipment. A resolution was passed confirming the voluntary liquidation of the company, with Mr. Bullimore as liquidator and a committee of inspection was also appointed. Screen Art, Ltd., 22, Frith Street, \V., kinematograpli service publishers. At a meeting of the creditors, held on June 10, H. Granville White, the liquidator of the company, submitted a statement of affairs which disclosed liabilities due to the trade of £1, 27 4s. 3d., ,' nd sundry creditors £780 2S. 2d. The net assets amounted to £1,380 15s. 7d., a deficiency of £426 los. lod. The company was incorporated in December, 1928, with a nominal capital of £50,000. The issued capital of the company was £10,000. The creditors passed a resolution confirming the appointment of Mr. White as liquidator of the company. .A committee of inspection was also appointed to act in conjunction with the liquidator. W. E. E. Ltd., The Scala Theatre, Charlotte Street, London, W.i. On November 14, at the Board of Trade Offices, the statutory meetings of the creditors and of the shareholders were held in the compulsory liquidation of W. E. E. Ltd., the registered office of which was the Scala Theatre, Charlotte Street, London, W. The winding-up order was made on the joint petition of Butcher's F'ilm Service, Ltd., of Wardour Street, W., creditors for £26, and of the Fox Film Co., Ltd., of Berners Street, W., creditors for £50. The liabilities amounted to £18,313, and the assets were valued at £2 9s. iid. The liquidation was left in the Official Receiver's hands. APPLICATION FOR DISCHARGE. Reginald John Marks, 129, The Vale, Golders (ircen, Middlesex, who was adjudicated bankrupt in .August, 1929, on February 14, appFed to .Mr. Registrar Mellor, at the London Bankruptcy Court for his discharge. The Otficial Receiver reported that the liabilities were £i,437, and the assets had produced £54. In December, 1926, he and a partner acquired the lease of the Gaiety Cinema, Church Lane, Leytonstone. He put in £200, but the venture was unsuccessful owing to keen competition. The partnership was dissolved in March, 1929. The liabilities were about £1,000 and there were no assets, and in consideration of his partner undertaking to pay the partnership debts, he gave him a bill for £35, payable March i, 1929, and to pay him £400 out of future earnings, liabihties of £1,186 8s. 9d., and no assets. The Receiver opposed the discharge on statutory grounds, and his Honour suspended the discharge for tw years.