Hong Kong movie director Danny Pang was revealed to have filed for bankruptcy, which will be heard on 23 January 2024.
The director, who is one-half of the filmmaking duo Pang Brothers, revealed to the media that he is in HKD 2 million in debt as he leaves a Hong Kong court earlier this week.
As to what caused the huge amount of debt, Danny said that his wife of 30 years had suffered from breast cancer more than 10 years ago and has been diagnosed with terminal lung cancer as early as February this year.
Danny said that he spent all his savings on his wife’s monthly medical and living expenses that exceeded to HKD 100,000.
As to whether his brother Oxide Pang and wife Angelica Lee helped eased his expenditure, Danny said that they have helped out but that he didn’t want to burden them so much seeing that they have a family to take care of themselves.
Danny said that he has no income for an extended period as his new project has been postponed repeatedly. As a director, he has no fixed job and banks did not approve loans, and thus, he had to resort to second-tier finance, which resulted in the HKD 2 million debt.