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Case Summary

Upon a debtor’s bankruptcy petition presented in July 2025, a bankruptcy order was made against the Defendant in August 2025.

Upon investigation, it was discovered that the Defendant was the owner of an insurance policy with the surrender value of HK$76,317.53 (“the Insurance Policy”) on the date of the filing of the petition.

The Defendant failed to disclose the Insurance Policy in List C3 of the Statement of Affairs (Debtor’s Petition) and therefore made a material omission in the Statement of Affairs.