Statistics on Compulsory Winding-up and Bankruptcy

The marked increase in the number of bankruptcy orders in January 2023 was attributable or related to higher number of petitions heard by the court and readiness of the petitions heard in the month, i.e. the petitions are in order for making of bankruptcy order upon hearing by the court. Such increase might also be affected by the court’s recent stepped up effort in robustly disposing of those bankruptcy petitions not fully meeting the statutory requirements or which were found to be an abuse of process, thus accelerating the relevant processes and assuring more of the petitions presented did not require to be adjourned or dismissed/withdrawn.

Receiving orders were made upon bankruptcy petitions presented before 1 April 1998 and bankruptcy orders, after that date.

The number of orders made in a particular month is affected by the number of weekly hearings (usually on every Wednesday and ,if necessary, Tuesday commencing July 1999) in the month when cases are heard in Court. Cases are not heard in public holidays.

New statutory provisions came into operation on 1 April 1998.

Petitioners appear to be getting used to new provisions for bankruptcy petitions effective from 1 April 1998.

Due to the special work arrangement of the Court, no petition was presented and no order was made during the period from 29 January 2020 to 28 February 2020.

The statistics for March and April 2020 have been affected by the special work arrangements of the Judiciary that have been put in place during the period, including general closure of the High Court Registry and adjournment of all court hearing unless for those urgent and essential businesses as directed by the court, which result in fluctuation in the number of petitions presented and orders made for both bankruptcy and winding-up in the relevant period. Since May 2020, the Judiciary has resumed normal services.

The statistics for March and April 2022 have been affected by the special work arrangements of the Judiciary put in place during the period from 7 March 2022 to 11 April 2022, including general closure of the High Court Registry and adjournment of all court hearing except for urgent and essential businesses as directed by the court, and as such no petition was presented and no order was made during the period generally. From 12 April 2022, the Judiciary has gradually resumed the court business under reduced capacity.