Hong Kong bankruptcy petitions down 43.5 pct

There were 12,489 bankruptcy petitions presented in 2004, down 43.5 percent from the previous year's figure of 22,092, Hong Kong Official Receiver's Office said Thursday.

It said that, during the year, the court made 13,593 bankruptcy orders, down 45.5 percent on 2003.

A total of 973 bankruptcy petitions were presented in December,down 13.6 percent from the November figure of 1,126, a drop of 47.2 percent compared with the average monthly figure of 1,841 in 2003.

During the month, the court made 483 bankruptcy orders, down 44.4 percent from the previous month's figure of 869, and a drop of 76.8 percent on the average monthly figure of 2,077 in 2003, said the Office.

Source: Xinhua