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Hong Kong actor Vinci Wong Yin-chi, who filed for bankruptcy last year, was officially declared bankrupt by the High Court on Tuesday without opposition.

Wong was sought by financial company Ego Finance for about HK$2.93 million in debt last December, the same month he filed for bankruptcy.

During last month’s hearing, an Ego Finance representative opposed Wong’s bankruptcy, arguing that Wong may have concealed some debts by presenting a sound financial status while applying for a loan.

Since neither Wrong nor the creditor attended the hearing on Tuesday (Mar 4), High Court Master Jack Wong Kin-tong issued the bankruptcy order without opposition after reviewing the documents. 

Under section 10 of…

BILLS

General Counsels’ Association of India gives major recommendations for Draft Advocates (Amendment) Bill, 2025

In the run-up to the decision to amend the Advocates Act, 1961, whereby the Government of India released draft Advocates (Amendment) Bill, 2025, for public consultation; the General Counsels’ Association of India (GCAI), in its letter dated 23-2-2025 to the Ministry of Law and Justice, gave certain recommendations/suggestions to be incorporated in the draft Bill.

READ MORE

Government Releases Draft Advocates (Amendment) Bill, 2025 for Public Comments

The Department of Legal Affairs has unveiled the Advocates (Amendment) Bill, 2025, proposing significant changes to the Advocates Act, 1961. The draft released for public…

In a notable ruling, the West Bengal Authority for Advance Ruling (AAR) has declared that an Insolvency Resolution Professional (IRP) or liquidator appointed by the NCLT is required to obtain GST registration before conducting sales of assets belonging to a liquidating company.

The AAR ruling came against an application filed by Maheshwary Ispat Limited, a company undergoing liquidation, seeking clarity on whether the liquidator Santanu Brahma, who was appointed by the National Company Law Tribunal (NCLT) on December 19, 2023. was obligated to obtain GST registration in order to dispose of…

Vinci Wong Yin-chi, actor and former chairman of Hong Kong’s oldest and largest charity, has been declared bankrupt.

The 54-year-old filed for bankruptcy in December last year, just a day after a credit company sued him for allegedly defaulting on an unsecured loan of HK$2.8 million (US$360,046).

High Court Master Jack Wong Kin-tong made the order against Wong on Tuesday after nobody objected. The debtor was absent from the hearing.

Wong, who chaired the 154-year-old Tung Wah Group of Hospitals in 2018 and 2019, previously confirmed on social media that he…

Vinci Wong Yin-chi, actor and former chairman of Hong Kong’s oldest and largest charity, has been declared bankrupt.

The 54-year-old filed for bankruptcy in December last year, just a day after a credit company sued him for allegedly defaulting on an unsecured loan of HK$2.8 million (US$360,046).

High Court Master Jack Wong Kin-tong made the order against Wong on Tuesday after nobody objected. The debtor was absent from the hearing.

Wong, who chaired the 154-year-old Tung Wah Group of Hospitals in 2018 and 2019, previously confirmed on social media that he…

The acquisition is expected to strengthen Jindal Power’s portfolio, which already includes a robust thermal power generation capacity exceeding 4.6 gigawatts.

“Lenders have issued the letter of intent to Jindal Power, which is the successful resolution applicant,” said Goel. “As a next step, the resolution plan will be taken to the…

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Ecsponent, the financially distressed previously JSE-listed company now named Afristrat Investment Holdings, has paid the former client that launched a high court application to liquidate the company in an attempt to get paid the R433 000 owing to it for services provided.

The settlement agreement will possibly result in Afristrat relaunching its high court application to voluntarily liquidate the company.

Read:
Afristrat to face a second liquidation application
Afristrat to liquidate because it’s ‘commercially insolvent’
Afristrat abandons planned voluntary liquidation application, for now

Afristrat’s board took a decision on 1 March 2024 to voluntarily…

Financial planner roll-up AZ Next Generation Advisory (AZ NGA) is positioned to execute its ambitious growth strategy after sealing a new debt deal.

Global investment giant Barings acted as joint lead arranger on a $345 million senior secured credit facility to support the accounting and financial advice business in a deal that closed last week.

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