Bankruptcy petitions in Hong Kong down in H1

There were 3,582 bankruptcy applications in Q1 of this year in Hong Kong, down 5.54% from a year ago despite the fifth Covid wave, according to the data from the Official Receiver's Office, which provides support to other government departments and statutory bodies involved in insolvency matters. The cases of compulsory liquidation for enterprises presented to the office also fell slightly by 2.12%. The data showed the number of bankruptcy petitions received in June dropped by 14.5% month-on-month to 674, but up by 15.6% compared to a year ago. The figure for compulsory winding-up petitions for companies last month was 38, which was 24% lower than the 50 applications recorded in April, but up by 5.6% from the same period of time in 2021.