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twitterGambling debts cited in official’s bankruptcy
Thursday, Feb. 8, 2001 | 10:34 a.m.
The Hong Kong iMail, an English-language publication in the former British colony, reported a prominent government official was declared bankrupt after the Las Vegas Strip's Caesars Palace resort took action against him for $1.5 million in gaming debts.
The High Court in Hong Kong granted a bankruptcy order against Kwok-Yin Lam, an official in a northern province of Hong Kong, after Caesars Palace and a Hong Kong property developer took action against him for debts.
An earlier hearing was adjourned on Jan. 29 after Lam said he intended to liquidate assets he claims to have in Malaysia to pay off his debts. But receivers are said to have seized those assets.
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