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  • September 23, 2014
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  1. Lazard chases debt as ShengdaTech files for bankruptcy in US

    Posted Aug 22nd 2011, 12:00am

    ... the Shanghai-based firm defaulted on bond repayments and filed for bankruptcy. ShengdaTech, which has been delisted from the Nasdaq exchange in the US following an accounting scandal, missed its latest interest payment on US$130 million worth of bonds before filing for bankruptcy protection in Nevada over the weekend. The chemicals company, whose shareholders include Goldman Sachs Investment ...

  2. Hong Kong bankruptcies not expected to reach Sars peak

    Posted Sep 24th 2009, 12:00am by Kate Watson

    ... Kate Watson There is general optimism that the number of bankruptcies and compulsory windings-up in Hong Kong will not exceed the peak recorded during the severe acute respiratory syndrome ... of respondents did not expect the annual number of bankruptcy orders to exceed 25,000, the peak during the Sars epidemic. Additionally, nearly 80 per cent said that the number of compulsory windings-up ...

  3. Lehman Bros declares bankruptcy

    Posted Sep 19th 2008, 12:00am by Susan Ramsay

    ... Susan Ramsay American bank Lehman Brothers caused fear all over the world this week. The bank said it was bankrupt. This means it has no more money left and it owes other people a lot of money. Because this was such a big bank, with offices all over the w ...

  4. Turning corner on bankruptcy

    Posted Mar 12th 2004, 12:00am by Jane Moir

    ... bankruptcy ranks had hit a plateau and would soon bottom out. They would, however, have been right to do so. Having given credit cards away like children's candy in the late 1990s, banks were ... suffering huge write offs from the resulting bad debt. Bankruptcy numbers that ran to the hundreds in 1997 eventually peaked at almost 27,000 at the end of 2002 and trod water for the best part ...

  5. 40pc jump in personal bankruptcy petitions

    Posted Apr 22nd 2006, 12:00am by Dennis Eng

    ... Dennis Eng Personal bankruptcy petitions shot up to 1,016 last month, the highest monthly level since November 2004 and a jump of more than 40 per cent from a month ago, the government ... last year. City University associate professor of economics and finance Li Kui-wai said he was puzzled by the large month-on-month jump in personal bankruptcies given the robust economic ...

  6. More firms go bust as credit crunch bites

    Posted Dec 02nd 2008, 12:00am by Staff Reporter

    ... Natalie Chiu and Maria Chan Bankruptcies to hit 2003 levels on tighter lending Hong Kong corporate bankruptcies are set to rebound to levels not seen since 2003 as lenders tightened their loose credit policy. The latest bankruptcy wave has wiped out electronics retail chain Tai Lin Radio Services and garment maker and retailer U-Right International Holdings, which filed ...

  7. When all else fails

    Posted Aug 01st 2011, 12:00am

    ... Anna Woodfield Bankruptcy is a dirty word. We shrink from hearing about financial failure, yet it is common: the Official Receiver's Office made 3,972 bankruptcy orders in the first six months of this year. This shows that bankruptcies are creeping up again, mirroring the state of the wider economy. Similar orders in 2006 totalled only 653. They rose to 11,063 in 2007 ...

  8. Lai See

    Posted Feb 01st 2011, 12:00am by Howard Winn

    ... was considered 'less than satisfactory'- three years before mortgage losses in the unit almost pushed the group into bankruptcy. Bloomberg reports that a letter sent by the US Office ...

  9. Bank issued no minibonds alert

    Posted Apr 24th 2010, 12:00am by Dennis Eng

    ... Dennis Eng Lawmakers want to summon a staff member of DBS Bank, who decided in March 2008 not to inform its customers of a higher product risk rating on all credit-linked notes. They asked that the person be identified after Amy Yip Yok-tak, chief executi ...

  10. Peace of mind at last for the minibond investors

    Posted Sep 07th 2009, 12:00am by Paggie Leung

    ... Paggie Leung What a difference two months makes. During the July 1 protests, minibond investor Peter Lee was desperate and stressed- chanting slogans and trying to storm the Bank of China headquarters in Central. Now, he is relaxed and cheerful. Having st ...




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