On Thursday, 4 October, IWIRC Hong Kong hosted its Third Annual Great Debate, the contention "It is better to be morally bankrupt than financially bankrupt". Moderated by David Kidd of David Kidd & Co. for a second year running, the affirmative team, comprising Donna Duke of HSBC, Christine Kim of Jones Day and Andrew Sheppard of Dragon Chambers sought to convince the hundred and six -strong crowd of their position: "That the morally bankrupt have more fun!"

Meanwhile, the negative team comprising Jonathan Hatch of Madison Pacific, Neil McDonald of Hogan Lovells and Justine Lau of Mayer Brown JSM took the moral highroad, prophesising that the morally bankrupt will have their inescapable day of judgment (in the fire and brimstone sense) and the question for the audience was a no-brainer; "Of course it is better to be financially bankrupt than morally bankrupt - we're insolvency practitioners after all and the financially bankrupt keep us employed!"

Despite a rousing and impassioned closing speech by Andrew Sheppard for the affirmative, "Give me moral bankruptcy!" and David Kidd threatening to make up further rules for the debate so as to exercise "As many casting votes as necessary"; by the narrowest of margins, the audience decided that the financially bankrupt team carried the day.

The event was kindly hosted by HSBC at its spectacular floor-to-ceiling glassed Atrium, with canapés and beverages generously co-sponsored by Jones Day and Madison Pacific.