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
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