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  • July 23, 2014
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  1. Bankruptcy fears hit Nine Dragons shares

    Posted Dec 31st 2008, 12:00am by Toh Han Shih

    ... to HK$2.11 yesterday, following the 3.9 per cent drop on Monday on a news report that the company would declare bankruptcy. Nine Dragons issued a statement denying the claim, and another one later ...

  2. Smaller businesses excluded from new draft of bankruptcy bill

    Posted Oct 26th 2004, 12:00am by Staff Reporter

    ... Alice Yan Lawmakers want to exclude small single-owner businesses and those formed through partnerships from a proposed bankruptcy law because the mainland lacks a credit-rating system. ... of Political Science and Law, said single-owner businesses and partnerships should be covered by the bankruptcy law. 'If there is no bankruptcy, how can the credit-rating system be established? ...

  3. Personal credit data threatened

    Posted May 23rd 2007, 12:00am by Andy Chen

    ... Andy Cheng Hong Kong's privacy watchdog has proposed extending credit data accessible by banks from five years to nine years on individuals who declare bankruptcy without defaulting on any loans. As bankruptcy cases are in general discharged after four years- when the bankrupted person cannot borrow from banks- the proposed extension would allow lenders to actually monitor ...

  4. Corrections & clarifications

    Posted Jan 01st 2009, 12:00am by Staff Reporter

    ... The article, 'Bankruptcy fears hit Nine Dragons shares', published yesterday should have said Standard & Poor's had cut the company's debt ratings once in 2008. It also misattributed a quote about the unusual nature of the downgrade to Christian Jiang Weisong. The person who made the statement was actually an unnamed finance expert. ...

  5. Better to seek advice early if you run into financial trouble, experts say

    Posted Aug 01st 2011, 12:00am

    ... have three options: go to a social worker or counsellor; go to a lawyer to apply for bankruptcy; or ask the bank to restructure the debt. For restructuring, you must go early, Yung says, ... main story.) An IVA is a formal procedure under the Bankruptcy Ordinance providing an alternative to bankruptcy. A debtor makes a repayment proposal to the court and the creditors. If approved, ...

  6. Credit card debt write-offs rise

    Posted Aug 17th 2006, 12:00am by Staff Reporter

    ... Maria Chan Rising bankruptcy petitions helped to drive up Hong Kong's annualised charge-off ratio for credit cards for the second consecutive quarter in the three months to June, ... from 2.89 per cent in the previous three months. 'The increase was largely due to write-offs in relation to bankruptcy petitions during the quarter,' the authority said yesterday. ...

  7. Syndicate exploits loophole to milk 9,000 debtors

    Posted Feb 13th 2006, 12:00am by Clifford Lo

    ... with each owing an average of $880,000. Among them, 79 policemen declared bankruptcy and 64 officers faced disciplinary action because of their unmanageable debts. A police spokeswoman said ...

  8. S.M.E. credit crisis 'could sweep China'

    Posted Oct 04th 2011, 12:00am

    ... May Chan may.chan@scmp.com The failure of a number of small and medium-sized businesses in Wenzhou marks the beginning of a much larger wave of corporate bankruptcies across the rest ... is definitely not the end.' Since January local media had reported 19 medium-sized corporate bankruptcies in Wenzhou, said a report by Barclays Capital. They accounted for only a small fraction ...

  9. Business - Economy - Cyprus

    Cyprus to reopen banks, impose capital controls

    Posted Mar 28th 2013, 01:58am by Reuters in Nicosia

    ... a chaotic national bankruptcy that might have forced Cyprus out of the euro. Speaking after meeting government officials, the head of the Cyprus chamber of commerce said: “We have been assured ...

  10. Faster court action on debt rulings urged

    Posted Jan 08th 2009, 12:00am by Staff Reporter

    ... growing. He said that implementing the measures might push some corporations and individuals to the brink of bankruptcy, but they were even more necessary during a financial crisis because ... but this only meant the need for better implementation of the country's bankruptcy law. ...




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