Bankruptcies in HK at 7,762

There have been 7,762 bankruptices in Hong Kong last year, according to the Legislative Council finance commitee.

If the economy continues to worsen and the unemployment rate continues to rise further, there are likley to be more bankruptcies.

The government said the Official Receiver's Office will closely monitor the number of new cases received and consider feasible measures, including streamlining procedures and hiring temporary staff  to cope with the number of cases.