The former head of the failed Carrian Group property empire, George Tan Soon-gin, is facing a bankruptcy petition filed by his long-time foe Rogerio Lam Sou-fung.
Lam, son of the late Hang Seng Bank founder Lam Bing-yim, is asking the High Court to declare Tan bankrupt after Tan failed to repay his debts, according to filings.
The two tycoons - each of whom was previously jailed in separate high-profile criminal cases - have been at loggerheads for decades.
Lam is knocking at Tan's door as a creditor after the Court of First Instance ruled in May that Lam was the owner of five antiques from the Song and Qing dynasties, which he lent to Tan around 1982.
Tan (pictured) was ordered to pay to Lam the proceeds of the sale of three of the antiques - a Guyuexuan vase, a stem cup and a double gourd - which had been auctioned in 2005 for HK$115 million, HK$3.2 million and HK$5.7 million respectively.
Two other pieces, a deep dish and a pair of quail dishes, were to be returned to Lam.