Businessman Edmund Chan files for bankruptcy

Businessman Edmund Chan, best known for his relationship with high-profile socialite Teresa Cheung Siu-wai, has declared himself bankrupt.

Mr Chan filed for bankruptcy at the High Court on Thursday, a week after the court ruled a money-lending company could pursue $250 million owed by Ms Cheung. Mr Chan hit the headlines when his cancer-stricken model wife Susanna Chung revealed in 1997 that he had had an affair with Ms Cheung, who was at the time married to singer Kenny Bee. Chung died from lung cancer in 1998, the same year the singer divorced the socialite. Ms Cheung and Mr Chan reportedly ended their relationship last month.