HK bankruptcy petitions top 900 in May, highest since 2022

Hong Kong recorded 949 bankruptcy petitions in May, up 17 percent from the previous month, marking the first time since 2022 that monthly filings exceeded 900, data from the Official Receiver's Office shows.

The figure is also 9 percent from a year ago.

However, the number of bankruptcy or receiving orders issued by the court dropped to 712 last month, down over 24 percent from April, though still up around 14 percent year-on-year.

Meanwhile, compulsory winding-up petitions climbed to 70, the highest since November last year, representing a near 15 percent increase both monthly and annually.

Court-issued winding-up orders, however, fell sharply to 38, down more than 42 percent from the previous month and nearly 12 percent from a year earlier.

STAFF REPORTER