In about 30 months' time since its inception in August 2001, Yip, Tse & Tang has represented over 4,000 debtors in bankruptcy petitions. Bankruptcy applications will be heard in 3 to 4 months time. "Our lawyers are knowledgeable about the effects of bankruptcy order on bankrupts. A special web-site Broke.com.hk has been set up dedicated purely to bankruptcy subjects," said Thomas Tse, the creator of theBroke.com and partner of Yip, Tse & Tang heading the personal insolvency practice of the firm. TheBroke.com has been featured by over 10 local and international newspapers or magazines, including Reuters, BBC and Le Monde. Solicitors of the bankruptcy team were interviewed by TVB, ATV, Cable TV, RTHK, Commercial Radio and MetroRadio Broadcast on debt or bankruptcy subjects on many occasions.
The financial storm in 1997 has resulted in the decline of the Hong Kong economy. Many people have become the victims of that. The HKSAR Government has failed to offer any help to them. Many are indebted to lenders millions of dollars. In view of the bad employment situation and the deteriorating economy, self-bankruptcy is perhaps the only viable option for them. Yip, Tse & Tang charges $4500 as their professional charges. Visit Broke.com.hk to know more details.