Hong Kong actor Vinci Wong has filed for bankruptcy following a default on an unsecured loan of HK$2.8 million (US$359,937) from a credit firm.
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Hong Kong actor Vinci Wong. Photo from Wong’s Instagram |
Citing HK01, Dimsum Daily reported that the bankruptcy hearing is scheduled for Jan. 21, 2025. Ego Finance Limited, the company from which Wong borrowed, attempted to reclaim the funds just one day before he filed for bankruptcy.
Wong secured the loan in July with an annual interest rate of 33.6%, managing to make only two months of payments totaling HK$160,000 before defaulting. The terms of the loan from Ego Finance Limited required monthly repayments of HK$78,400 for the first five months, with the full amount due shortly thereafter. However, Wong was unable to meet the steep financial demands.
The Star reported that the actor refrained from commenting on rumors regarding the debt collection efforts by the financial agency.
“As the case has now entered legal proceedings, I’m unable to provide any further comments,” he stated.
Wong resides in a property valued at HK$23.29 million in Hong Kong’s Tai Kok Tsui neighborhood and holds a 28% stake in his family’s business WKK Distribution Limited, founded by his grandfather Wong Sha Shan and reportedly worth about HK$70 million. Despite these considerable assets, they are not solely in his name.
Reflecting on his situation, Wong shared a message on Facebook about resilience, comparing life’s challenges to the ever-changing weather, and expressed his determination to overcome the adversity he faces.
In addition to his career in entertainment, Wong, 53, has also been active in the business sector, having previously served as the chairman of the Tung Wah Group of Hospitals. His family’s wealth is estimated at HK$3 billion.
