Bankruptcies in Hong Kong climb to 949 last month
發佈日期: 2025-06-20 21:03
TVB News
Over 900 bankruptcy applications were made last month, marking a five-year high.
A lawyer said among the cases he received recently, some of the clients were resorting to bankruptcy as they were not able to repay their debt after becoming jobless.
The Official Receiver's Office released the latest bankruptcy application figures.
In May, Hong Kong logged 949 bankruptcy applications, up from 811 in April.
That's a 9 percent rise compared with the same month last year.
Altogether, over 4,000 people applied for bankruptcy in the first five months this year.
The May figure marked a five-year high.
The last time when over 900 bankruptcy applications were received was back in April 2022.
In the meantime, companies' winding up petitions also slightly edged up to 70 in May.
However, bankruptcy orders and winding-up orders made by the court both declined.
Alan Wong, a bankruptcy lawyer noted a recent hike in inquiries about bankruptcy applications.
He said some of the clients resorted to bankruptcy as they were not able to repay debts after becoming unemployed.
He added that some businesses chose to close down because of their inability to repay loans.
Bankruptcy applicants cannot make major purchases such as a flat or a car until the bankruptcy order expires in four years.
