HongKongBankruptcy.com - solving personal insolvency problems - credit cards, personal loans

We file more than 100 bankruptcies a month and over a thousand a year

We file over 100 bankruptcy petitions for our debt clients every month. Every year, thousands of debtors hard hit by credit card debts and personal loans instruct us to file bankruptcies for them.

Welcome to HongKongBankruptcy.com, an English website dedicated to basic bankruptcy information. If you are in heavy debts and stressed by credit card or personal loans, you may consider bankruptcy  (破產) or debt relief plan (DRP債務舒緩重組)  to solve your debt problems.

We have handled more than 10,000 bankruptcy applications and more than 2000 debt restructuring plans since 2011. WE ARE EXPERIENCED & CAN BE TRUSTED BY YOU! WE ARE LEADING IN PERSONAL INSOLVENCY LEGAL PRACTICE.

Any problems? Make a call to our experienced insolvency lawyer - Henry Chung 64199999 WhatsApp accepted (English, French or Cantonese)

Bankruptcy Chinese site: www.HKBankruptcy.com

A Bankrupt's Obligations during Bankruptcy Period

  • inform Trustee/Official Receiver when staying out of Hong Kong
  • file financial statement with Trustee/Official Receiver every 12 months
  • bankruptcy period is basically 4 years. A bankrupt is "supervised" by Trustee/Official Receiver for 4 years
  • income in excess of basic living expenses be given to Trustee/Official Receiver for distribution in the estate
  • give full account of financial position to Trustee/Official Receiver, including "transactions undervalue" and "unfair preference" made prior to bankruptcy

Bankruptcy Shortcomings

  • must inform the lender his bankrupt identity when borrowing a sum over $100
  • bad credit rating even after bankrupt discharge
  • cannot live in extravagance during bankruptcy period
  • must pay to the estate's Trustee the money in excess of the living expenses
  • some professional qualifications have to be suspended from practice
  • not permitted to travel for vacation on own money
  • life policy cash value be surrendered to the estate to become asset for paying to creditors
  • giving to the Trustee/Official Receiver a good account of the financial position before bankrupt
  • explain to the Trustee/Official Receiver  "unfair preference", if any
  • explain to the Trustee/Official Receiver  "transactions undervalue or gifts" made prior to bankruptcy

Bankruptcy Search

Anyone may conduct a bankruptcy search on a target person through the Official Receiver’s Office via the Internet at http://www.oro.gov.hk/eng/publicsv/compulsory.htm.

Search Conditions

  • name and ID number of the target person or the trading name of a non-limited company
  • pay a search fee of $85 for each search. 
  • the bankruptcy search will show all bankruptcy orders (both undischarged and discharged) on the target person.

Bankruptcy Period & Bankruptcy Discharge

First-time Bankrupt

In case the bankrupt has not previously been adjudged bankrupt,  the bankruptcy order will be discharged in 4 years after the date of issue as a matter principal. This is called "automatic discharge".

Condition of Automatic Discharge

  • There is no valid objection from the Trustee in bankruptcy
  • the bankrupt has fully complied with the provisions of the Bankruptcy Ordinance. 

Non-First-time Bankrupt

If the bankrupt has been previously adjudged bankrupt, the order will be discharged in 5 years after its date of issue.

Valid Objections

If the Trustee or creditors have valid objections against the discharge of the bankruptcy order, then the order may be extended for a maximum period of 4 years. Valid objections may be due to as examples the bankrupt's unsatisfactory conduct or failure to fully disclose the assets or earnings.

In case the bankrupt has been previously adjudged bankrupt, the maximum period of the extension is 3 years.

There is also the possible suspension of the date of discharge if the bankrupt leaves Hong Kong).

Consequence of Bankruptcy Discharge

  • When a bankruptcy order is discharged, the bankrupt is released from all provable debts, including any debts or liabilities that were proved in the bankruptcy proceedings. 
  • However, the bankrupt remains liable for the following debts regardless of the discharge of the bankruptcy order: mainly those debts incurred by fraud, fines imposed for offences, or damages in respect of personal injuries to other persons.

Henry Chung, Partner. Mobile: 64199999

  • Partner 
  • Solicitor Hong Kong 
  • Member, Law Society of Hong Kong 
  • Member, Maryland State Bar Association 
  • Member, New Jersey State Bar Association 
  • Member, American Bar Association 
  • Certified Notary Public, Maryland 
  • Juris Doctor, Georgetown Law Center, Washington DC 
  • PCLL, University of Hong Kong 
  • B.A. Government and Economics, Cornell University, Ithaca NY 
  • Arnold & Porter, Washington DC, Staff Attorney in 2006 
  • Food and Drug Administration, Center for Biologics Evaluation & Research, Rockville MD 
  • Litigation/Trade Secrets Attorney in 2003-6 


  • Handled extensively on bankruptcy & debt restructuring matters for personal debtors
  • Comprehensive handling of personal injuries and employees’ compensation cases including drafting of pleadings and correspondences, attending Check List Review and 3-minute hearings, negotiation of settlement, attending trials and assessment of damages hearings. 
  • Comprehensive handling of civil litigation cases including drafting of pleadings and correspondences, attending Check List Review and 3-minute hearings, negotiation of settlement, and arranging mediation. Comprehensive handling of criminal litigation cases including taking instructions from clients, attending trials, mitigation, plea and sentencing hearings. 
  • Acting for vendors and purchasers in conveyancing transactions including raising and answering requisitions and comprehensive study of title deeds. 
  • Extensive handling of family law cases including drafting of pleadings and obtaining Divorce Order Nisi and Order Absolute. 
  • Extensive handling of probate cases including drafting of wills and obtaining letters of administration for clients. 
  • Conducted legal research and client interviews

About Us: Yip Tse & Tang, Lawyers + Notaries + Civil Celebrants

Bankruptcy Case Example: Miss B going bankrupt

Case Illustration

 Miss B is a saleslady having a regular salary of $12000 per month. She likes travel for vacations. She does this 3 times a year. She has borrowed  about $250,000 in total from different banks and finance companies. Credit card debts and personal loans are almost half and half. Her repayment in total every month is about $8000. Her basic living expenses in a month is $8000.  Because $8000 is her basic spending, she is now unable to repay all her creditors.

Question 1: 
Can any one of the creditors file a bankruptcy petition against Miss B at this stage? 

Question 2: 
If a bankruptcy order is granted against Miss B, then what will happen to Miss B? Answer 5

Question 3: 
What are the effects of bankruptcy on Miss B's job?

Question 4: 
If Miss B gives his car to his brother as a gift, then what possible legal action will he face? 

Question 5: 
What can a creditor do after a bankruptcy order has been granted against Miss B?

Question 6: 
When will Miss B be discharged from his bankruptcy order? 

Question 7: 
Can Miss B apply for an early discharge of the bankruptcy order even if its effective period has not expired?