Credit Intelligence, through its wholly owned subsidiary, HONG KONG DEBT MANAGEMENT SERVICES LIMITED, provides bankruptcy administration services to creditors when the value of the bankruptee’s assets are likely to exceed HK$200,000.

Under the Bankruptcy Ordinance, where an individual is unable to pay their debts, they or their creditors may present a petition to court for a bankruptcy order. For cases where the value of assets is likely to exceed HK$200,000, an outside trustee will be appointed to administer the bankruptcy estate upon a bankruptcy order being made. The duty of an outside trustee includes the realisation of assets, monitoring the income and expenses of the bankruptee to ensure that they make reasonable contributions, and making distributions to creditors when there are sufficient funds in the bankruptcy estate. 

HKDMS provides qualified employees to take up the appointment of outside trustee in bankruptcy cases at the general meetings of creditors. Thereafter they negotiate with creditors and ensure the smooth administration of the bankruptcy estates pursuant to the requirements of the Bankruptcy Ordinance.

The remuneration received for bankruptcy administration services provided by HKDMS is generally based on a fixed percentage on the amount of contributions from the bankrupt estate and proceeds from the realisation of assets. HKDMS also receives a fixed percentage of the bankruptcy distributions. Subject to the available funds of the case, the service fee is not less than HK$30,000.

According to the record provided by Official Receiver's Office, the total number of bankruptcy cases in Hong Kong was 7,146 in 2018. Credit Intelligence was engaged in 1,542 new cases, or 21.58% of the total.