Hong Kong Court Orders Tang Yiu-sing to Repay HK$15.99M Debt by Sept 14 or Face Bankruptcy

The Hong Kong High Court has issued a final repayment order to Tang Yiu-sing, the youngest son of late Hong Kong property tycoon Tang Shing-bor, requiring him to fully settle a debt of HK$15.99 million (including rent, management fees, and property tax) by September 14, 2026, or face a bankruptcy order at a hearing on September 21, according to Jiemian News. The creditor, Lee Sing Development Limited, filed the bankruptcy petition after Tang defaulted on payments since 2022 and failed to resolve the debt through multiple legal proceedings between 2022 and 2024. Tang, who inherited his father's property empire valued at nearly HK$80 billion at its peak, pursued an aggressive expansion strategy after taking over in 2021, acquiring 14 hotels and a nursing home group through heavy borrowing. However, declining tourism and a downturn in Hong Kong's commercial property market strained cash flow, leading to a debt crisis. The family has sold over 90 properties for nearly HK$30 billion to ease pressure, but many assets were sold at a loss. Tang has also received two additional bankruptcy petitions from other creditors this year.