VPRS 1532 Insolvency Court Estates Account, Cash Book

Into the Insolvency Estates Account Cash Book were entered details of the receipts into and outgoings from the insolvent estates whose management was under the supervision of the Port Fairy Court of Insolvency.This series was part of the mandatory accounting procedures for bankrupt estates established under Sections 54 to 63 of the Insolvency Act 1897. The Act mandated the keeping, form and operation of this account by the Chief Clerk. Assignees and trustees of estates were to pay into designated bank accounts each week all moneys received as assignee or trustee, furnishing the Chief Clerk with the details of this transaction. When necessary for carrying on the insolvents business or meeting any claims on the estate, money could be paid out of the account as authorised by the court or by a police magistrate. Any unclaimed moneys or any surplus funds in the account for an estate was to be paid to the Treasury for investment.Details were set out across a double page with receipts (DR) on the lefthand side and disbursements (CR) on the righthand side. On the receipts side details were entered under the headings of Dates, Numbers (the running number assigned each case in the Court Register), Amounts, Date of Vouchers, Voucher Numbers and Estate Book Folios (referring to the records entered in the Court of Insolvency Estates Cash Book). Details on the disbursements side were entered under the headings of Dates, Numbers, Name of Estates, To Whom Paid, Amount, Estates Book Folios and Receipt of Payee (often a signature).