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  1. Moulin creditors hopeful of rescue

    Posted Jun 24th 2005, 12:00am by Enoch Yiu, Toh Han Shih

    ... Toh Han Shih and Enoch Yiu Queue of creditor banks nearly doubles in length as negotiations over restructuring and bailout begin Moulin Global Eyecare Holdings was placed in provisional liquidation yesterday, with creditor banks hoping that a rescue of the troubled company will salvage billions in outstanding loans. There were now 29 banks, led by HSBC Holdings, negotiating ...

  2. Judge lashes HSBC for 'the devil's work'

    Posted Jul 20th 2005, 12:00am by Nick Gentle

    ... restructuring deal in 1983, with HSBC as the lead institution, the court heard. Under the deal, no interest would be charged on Esquire's existing $309 million debt with HSBC, which would ... Nick Gentle and Robin Kwong HSBC could face a claim in excess of $400 million after a judge found it acted with a 'total lack of morality and legality' in forcing a troubled firm ...

  3. HSBC pushes Moulin to brink

    Posted Jun 22nd 2005, 12:00am by Staff Reporter

    ... Banking Corp took legal steps to have the world's largest eyewear maker declared bankrupt amid debts of $5.3 billion. A complex debt restructuring broke down yesterday after the bank filed a winding-up petition against Moulin at the High Court and further accounting irregularities emerged at the company. A hearing will take place tomorrow. 'HSBC lost patience with the process ...

  4. Moulin awaits final count of staff cuts

    Posted Jul 02nd 2005, 12:00am by Staff Reporter

    ... reported that Moulin's mainland staff have not been paid for several months. The liquidation of Moulin comes in the wake of 29 banks, led by HSBC Holdings, seeking to reclaim at least $2.4 billion in outstanding loans after restructuring efforts failed and accounting irregularities continued to emerge at the company. A winding-up petition hearing is scheduled for August 24. ...

  5. In Brief

    Posted Jan 17th 2005, 12:00am by Staff Reporter

    ... wages protected in HSBC revamp, says chief Wages were not cut as HSBC reduced the number of its staffing grades from 22 to eight, company chairman David Eldon said at the weekend. Instead, Mr Eldon said, the administrative restructuring had made most employees eligible for a pay rise. Under the banking giant's new structure, the number of staff receiving a pay rise ...

  6. Moulin's creditors call in the police

    Posted Jun 29th 2005, 12:00am by Jane Moir

    ... last week took legal steps to have the world's third-largest eyewear manufacturer declared bankrupt. Moulin was put into provisional liquidation on Thursday as 29 banks led by HSBC Holdings sought to reclaim at least $2.4 billion in debt after restructuring efforts failed and accounting irregularities continued to emerge at the company. A report had since been passed ...

  7. After years of being ignored, villagers go for do-it-yourself

    Posted Oct 03rd 2005, 12:00am by Elaine Chan

    ... to sell stakes to HSBC and the International Finance Corp, is a relative success story. The number of co-ops restructuring is on the rise, with nine commercial banks and 34 rural union banks ... rural co-op reforms a daunting challenge,' HSBC economist Qu Hongbin said. Until an intensive clean-up programme launched by the central government two years ago, total assets of all RCCs ...

  8. Appointments

    Posted Sep 17th 2005, 12:00am by Staff Reporter

    ... in the investment banking division, involved in mergers and acquisitions transactions, financial restructurings and other corporate advisory assignments for regional corporations. She has been responsible for research and valuation work on Asian companies across the region. Ben Arber Head of payments and cash management HSBC Korea Mr Arber will join a new management team in Korea dedicated to growing ...

  9. Banks should put houses in order before flotation

    Posted Feb 21st 2005, 12:00am by Wang Xiangwei

    ... of European banks, which usually spend more than five years on restructuring and ensuring that all main indicators are healthy before seeking a stock market flotation. In contrast, mainland companies ... window dressing, as these investors usually sell their holdings for a tidy profit after one or two years. Mainland officials have vowed that restructuring of the banks will be different. The Bank ...

  10. Bank stocks in play as investors watch HSBC

    Posted Aug 02nd 2005, 12:00am by Staff Reporter

    ... on HSBC's interim results due out after market close. The pessimists took the upper hand in the morning session, driving down HSBC by 0.31 per cent in early trading. But optimists, sensing ... of US$7.59 billion, up 9 per cent year on year. Subsidiary Hang Seng Bank saw its profit fall 2.3 per cent to $6.04 billion. Both results exceeded market forecasts. Many brokers expect HSBC ...




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