24th January 2024 – (Hong Kong) Hong Kong businessman Stephen Shiu Junior, son of prominent Taiwan-based Hong Kong media personality Stephen Shiu, has found himself in financial distress as a company filed for his bankruptcy at the High Court towards the end of last year. The case was brought before the court on 23rd January for a preliminary hearing, during which the presiding judge announced that the proceedings would be adjourned to 5th March due to the incomplete submission of relevant documents by the petitioner.
The petitioner in this bankruptcy filing is AI Global Investment SPC, acting on behalf of AI Investment Fund S.P., while Stephen Shiu Junior is listed as the respondent. Neither party had legal representation present in court, and Stephen Shiu Junior himself was also absent. As the bankruptcy petition is not available for public access, details regarding the specific debts involved in the case remain undisclosed. It is worth noting that this is not the first time Stephen Shiu Junior has faced bankruptcy filings from other companies. Records indicate that he was previously subject to a bankruptcy petition from Capital Union Inc. in September two years ago. Furthermore, in late August of the same year, Stephen Shiu Junior was sued by Grand Asset Management Limited for the recovery of a debt amounting to HK$32.6 million, including interests and legal costs, resulting in a court order for him to repay the sum in February of the following year.
Aside from his personal financial troubles, Stephen Shiu Junior’s position as Chairman of HMV Digital China Group Limited has also attracted legal action. In May of last year, the High Court issued a winding-up order against the company due to its outstanding debt of approximately HK$1 billion owed to Wan Tai Investment Limited. Additionally, an incident occurred last October involving an act of vandalism directed at a seven-seater vehicle owned by the Shiu family, which was parked outside a school in Sham Shui Po. Two unidentified individuals wearing black clothes targeted the vehicle, along with two adjacent private cars, by splashing them with red paint. Reports suggest that the attack may be related to Stephen Shiu Junior’s alleged debts exceeding HK$700 million, and it is believed to have occurred while he was arranging for his son to be picked up from school.
