Official Receiver's Office rejects application for bankruptcy order annulment

2007-08-29 Hong Kong

Hang Seng Bank’s application for bankruptcy of its debtor Lo Cheuk Chiu had previously been approved but thereafter the bank reached a settlement with the debtor, in which the debtor only needed to repay HK$700,000 to the bank. In addition, the debtor repaid HK$67,000 to another creditor bank. Under this circumstance, he yesterday applied for annulment of the bankruptcy order but the application was rejected by the Official Receiver's Office, as the authority questioned whether the debtor has pay off all debts according to the Bankruptcy Ordinance.