Edison Chen’s Father to Declare Bankruptcy
In the last several years, financial debtors have pressured Edison Chen’s father, Chen Chak Man, to repay back loans. Edison’s sister, Tricia Chen hinted towards the media yesterday that her father will be filing for bankruptcy. A formal announcement will be made on April 27th. At that time, Tricia will speak on behalf of her father and explain the the matter to the public.
Apart from being worried about Edison’s death threats, there were other matters troubling the Chen family. At first, Tricia refused to disclose further details. When reporters asked whether the matter involved Chen Chak Man’s impending bankruptcy, Tricia nodded her head. “We will hold a press conference regarding my father’s bankruptcy. We all support his decision. Edison is also aware of this matter.”
“I do not know about bankruptcy procedures, but my father has made this decision. Before the formal public announcement, I can not say too much about the matter.” Tricia acknowledged that her father’s bankruptcy is related to the financial crisis. “My father’s bankruptcy has impacted me greatly. I am trying my best to save money now. Since graduating from university, I have not asked my father for any more financial support. Our finances are independent.”
Tricia continued, “This year, our family has faced many difficulties. I have grown accustomed to it.”
Currently Edison Chen is in the United States. Worried about Edison’s safety, Tricia could not sleep and eat. “When I heard about the bullets sent to TV station threatening to take Edison’s life, I felt nauseous and ready to vomit. I contacted Edison and he said he is doing fine.” Tricia also revealed plans to start a public relations firm in Hong Kong. However, her father and Edison will not have any investment, “My father only wishes me good luck.”
In the past, when rumors circulated that Mr. Chen was in financial debt, Edison denied the rumors and said that his father “did not owe other people money.” This time, Mr. Chen’s bankruptcy will only be addressed by Tricia.
Prior to the nude photo scandal, Edison’s career held much promise. His own production company was also doing well. Previously, Edison declared that he would marry his girlfriend, Vincy, when he earned $20 million U.S. dollars (about $1.5 billion HKD).
Since the photo scandal, Edison fled to the United States and his income dropped sharply. It appears that even if Edison wanted to assist his father financially, it may not be an easy task.
Jayne: Many people have lost fortunes due to the recent financial crisis. Artists and their families are no exception. Hopefully the economy turns around soon.