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Case Summary

Upon a debtor’s bankruptcy petition presented in April 2022, a bankruptcy order was made against the Defendant in June 2022.

Upon investigation, it was discovered that in the Defendant’s 2nd Annual Statement of Earnings and Property Acquired (the “2nd AS”), he understated his annual income by about HK$194,000.

The Defendant made a material misstatement by understating his annual income in the 2nd AS.