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  • July 22, 2014
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  1. News - Asia - SINGAPORE

    Singapore's ex-leaders write off political rival's huge debt from defamation case

    Posted Nov 22nd 2012, 12:00am by Associated Press

    ... Associated Press Firebrand opposition leader Chee Soon Juan released from bankrupty by creditors in time to 'muddy' election waters in 2016 Political concession sees party head free Prominent Singapore opposition leader Chee Soon Juan has been d ...

  2. News - China - ECONOMY

    Boom city Dongguan faces bankruptcy as village debts soar

    Posted Sep 28th 2012, 12:00am by Charlotte So

    ... crisis as the country's economy cools. Local government debt hit 10.7 trillion yuan (HK$13.16 trillion) nationwide at the end of 2010, equivalent to about 27 per cent of gross domestic ... debt of village authorities could total 10 per cent of the country's GDP, but there is no official data. Bai said many village chiefs he interviewed had no idea how much debt they had. Yet ...

  3. Business - Economy - SHIPPING

    Lenders hold fire on ailing shipping firms

    Posted Aug 13th 2012, 12:00am by Keith Wallis

    ... and Royal Bank of Scotland have either scaled back or stopped lending to shipping companies, Lee said they have been reluctant to enforce loan defaults. "Banks are better off rescheduling debt with existing operators rather than [taking] over and [selling] the ships," he said. "A lot of banks can't afford to take a hit," especially with the ongoing European debt crisis ...

  4. Genmar chapter 11 filing reveals huge debts in HK

    Posted Nov 19th 2011, 12:00am

    ... total debts of US$1.4 billion including a US$300 million bond up to the end of September. Total assets, mainly the firm's fleet of 33 tankers, were valued at US$1.7 billion. Hong ... to fund a reorganisation plan and convert debt to equity. Further equity investment would also be sought. The judge is also likely to agree to Genmar suspending bank loan repayments for up ...

  5. Mob takes control of Taizinai factory over debt to builder

    Posted Jun 08th 2010, 12:00am by Naomi Rovnick

    ... Naomi Rovnick The bankruptcy of mainland dairy company Hunan Taizinai, whose investors include Goldman Sachs and Morgan Stanley, has descended into chaos. Its third-largest factory, in Huanggang, Hubei province, is being occupied by a 40-strong mob believ ...

  6. Debt crisis threatens Kaohsiung subway

    Posted Mar 18th 2010, 12:00am by Lawrence Chung

    ... but admitted that the company had lost close to NT$5 billion already. He said the company had NT$42.8 billion in assets and NT$37.7 billion in debts and would not go bankrupt. Liu said most ... is 108,000. With debts of up to NT$400 billion, the High Speed Rail line, the first build-operate-transfer project linking Taiwan from north to south, has lost more than NT$60 billion since beginning ...

  7. Rusal IPO cash used to pay debt

    Posted Feb 05th 2010, 12:00am by Amanda Lee

    ... debts, leaving US$12.9 billion still outstanding. The world's largest aluminium producer said it had paid the funds to international lenders, Russian banks, excluding state bank VEB, which ... it is too big to fail.' Rusal had to restructure all of its debt- the biggest-ever Russian corporate debt restructuring- before gaining approval from the Hong Kong stock exchange. In September, ...

  8. Why firm with assets exceeding debt to wind up

    Posted Oct 22nd 2009, 12:00am by Enoch Yiu, Naomi Rovnick

    ... to their face value, people who specialise in buying corporate debt said. 'There is very little chance of recovery,' said one hedge fund manager who had considered buying the bonds. Derek Lai ... for financial sector, said the company may have sought a voluntary winding-up because it wanted to find an easy way out of repaying debt. Fu Ji's founding chairman, Wei Dong, had been working ...

  9. Distressed-debt veteran forms bank to cash in on ailing firms

    Posted Oct 08th 2009, 12:00am by Naomi Rovnick

    ... of failing companies. Michel Lowy, the former head of Deutsche Bank's distressed debt team in Asia, will formally open the institution, SC Lowy Financial (Hong Kong), today. The bank is likely ... for participating in risky businesses such as trading distressed debt in response to political pressure on them to return to the basics of banking. Lowy is said to be hoping to capitalise on this, ...

  10. Lee & Man warns of profit fall, wins waiver on debt

    Posted May 21st 2009, 12:00am by Toh Han Shih

    ... Toh Han Shih Lee & Man Paper Manufacturing yesterday issued a profit warning for the year to March and said it had been in danger of breaching a covenant on almost HK$4 billion of debt ... survive,' said the finance expert. 'Lee & Man had no choice but to renegotiate its debt with the creditors and pay higher interest rates. Lee & Man's gearing ratio is 90 per cent, ...




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