Extends bankruptcy durations of individual who fabricated Nina Wang's will by four additional years, as decided by Hong Kong judiciary.
Hong Kong Court Extends Bankruptcy Order for Peter Chan Chun-chuen
The Hong Kong court has extended the bankruptcy order for Peter Chan Chun-chuen by four years, following his failure to settle debts owed to the estate of Nina Wang Kung Yu-sum.
The decision was made on November 1, 2022, by Master Jack Wong Kin-tong, who granted the company's request for the bankruptcy order extension. The application was made by EY (Ernst & Young) in July.
Throughout the four-year period, Chan has been cited for his "unsatisfactory and uncooperative conduct" by EY. He made no attempt to pay the HK$28.4 million in legal fees he owed to the Chinachem Charitable Foundation, and he did not submit any annual statements of earnings.
Chan also failed to disclose his financial information and did not respond to requests and inquiries made by the official receiver and the company. The court heard these new instances of Chan's non-compliance, which led to the extension of his bankruptcy order.
The debts in question stem from a high-profile lawsuit over Nina Wang's billion-dollar assets, which Chan lost 15 years ago. Chan, a former feng shui master, is known to have claimed to be Nina Wang's lover.
It is important to note that the bankruptcy order extension does not involve any new charges or legal proceedings against Chan. He made no opposition to the intended bankruptcy order extension.
Chan was absent from the hearing where the bankruptcy order extension was granted. Jonathan Arthur, the lawyer who represented Chan in the bankruptcy proceedings, applied for the extension of the bankruptcy proceedings.
The extension of Chan's bankruptcy order is a result of his failure to settle debts with the estate of Nina Wang, as well as his lack of cooperation with the official receiver and the company. This is the latest development in a long-running saga involving one of Hong Kong's most high-profile bankruptcy cases.
