Singer and actor Kenny Bee, also known as Kenny Chung Chun-to, has filed a petition for bankruptcy in the High Court.
Law firm Siao, Wen & Leung, representing Kenny Bee, served the application on Monday. A preliminary hearing fixed before a judge in the Court of First Instance is expected to be held in three months' time.
Bee's bankruptcy petition came less than a week after businessman Edmund Chan, ex-boyfriend of Bee's former wife, socialite Teresa Cheung Siu-wai, declared himself bankrupt.
Bee, 49, was a saxophonist and singer with the Wynners, a highly successful band in the 1970s.
He once boasted that he was the first showbiz star in Hong Kong to own a Lamborghini sports car.
He married Ms Cheung in 1988 after a whirlwind 21-day romance. But the marriage collapsed in 1997, making the front pages of the Chinese-language papers after Ms Cheung's affair with Mr Chan came to light.