News on Asia Insolvency
THAILAND Sep BANKRUPTCY CODE: Changes to increase protection; More safeguards for honest borrowers BANKRUPTCY DISPUTE: Thai Fishery opposes receivership order COMPANIES & FINANCE: ASIA-PACIFIC: TPI creditors offered debt-equity swap DEBT RESTRUCTURING: TPI rehabilitation plan is completed Aug Thai Petrochemical rehabilitation plan deadline extended to Sept 23: report THAI PETROCHEMICAL INDUSTRY: Revival plan put back one month: Major creditors seek revision UCOM paging unit may be shut down: report June Thai Petrochemical Predictions Show a Need for Fresh Capital Closed Prime Bank tops PDIC claims list TPI units' rehabilitation petition accepted by bankruptcy court Effective Planner to meet TPI creditors on July 7 WORLD NEWS: ASIA-PACIFIC: Bangkok warned to push on debt restructuring RESTRUCTURING: FRA to pay B7bn to creditors following debtor's court ruling - FIDF to have first claim on the funds IMF ends programme in Thailand amid worries about corporate debt Tanayong Struggles to Save Skytrain From Insolvency May Debt restructuring regimes in Thailand INTERVIEW:Fitch IBCA Finds Improvements In Thailand TPI planner optimistic over future SCB: SHIN to hold 43 pct of restructured ITV Thai iTV Board Approves Debt Workout; Shin Corp Stake Thai Business Briefs:Ferrier Named Robinson Creditors Rep Ferrier Hodgson appointed to represent Robinson creditors1 Inbrief: Court approves planner for NTS Robinson talks go on
THAILAND
Sep
BANKRUPTCY CODE: Changes to increase protection; More safeguards for honest borrowers
BANKRUPTCY DISPUTE: Thai Fishery opposes receivership order
COMPANIES & FINANCE: ASIA-PACIFIC: TPI creditors offered debt-equity swap
DEBT RESTRUCTURING: TPI rehabilitation plan is completed
Aug
June
TPI units' rehabilitation petition accepted by bankruptcy court
Effective Planner to meet TPI creditors on July 7
WORLD NEWS: ASIA-PACIFIC: Bangkok warned to push on debt restructuring
RESTRUCTURING: FRA to pay B7bn to creditors following debtor's court ruling - FIDF to have first claim on the funds
IMF ends programme in Thailand amid worries about corporate debt
Tanayong Struggles to Save Skytrain From Insolvency
May
Debt restructuring regimes in Thailand INTERVIEW:Fitch IBCA Finds Improvements In Thailand
TPI planner optimistic over future
SCB: SHIN to hold 43 pct of restructured ITV
Thai iTV Board Approves Debt Workout; Shin Corp Stake
Thai Business Briefs:Ferrier Named Robinson Creditors Rep
Ferrier Hodgson appointed to represent Robinson creditors1
Inbrief: Court approves planner for NTS Robinson talks go on
PHILIPPINES Sep NSC receiver seeks 2-week debt payment suspension; prepares liquidation plan Aug The View from Taft: Insolvency and corporate recovery BSP proposes liquidation of NSC to reduce banks' burden June Central bank urges Urban Bank receiver to accept more rehabilitation proposals Equitable PCIBank favors Victorias receiver alternative rehab plan PDIC readies liquidation of rural bank SEC allows National Steel receiver to enter contracts to preserve assets ASB Group creditors ask SEC to reconsider debt payment reprieve, receiver
PHILIPPINES
NSC receiver seeks 2-week debt payment suspension; prepares liquidation plan
The View from Taft: Insolvency and corporate recovery
BSP proposes liquidation of NSC to reduce banks' burden
Central bank urges Urban Bank receiver to accept more rehabilitation proposals
Equitable PCIBank favors Victorias receiver alternative rehab plan
PDIC readies liquidation of rural bank
SEC allows National Steel receiver to enter contracts to preserve assets
ASB Group creditors ask SEC to reconsider debt payment reprieve, receiver
SOUTH KOREA Aug Korea Merchant Banking declared insolvent, ops to be suspended for 3 mths Woo Bang Housing files for court receivership June Corporate credit crunch may dampen economic growth SKorea May insolvency ratio rises to 0.19 pct vs 0.16 in April S KOREA DRAWS UP GUIDELINE FOR FINANCIAL HOLDING CO Banking Sector Likely To See Additional Insolvencies Worth 2-3 Trln. Seoul provides funds for Korea Merchant Banking Creditor group rejects debt restructuring for Saehan Ind. May Loans to Two Hyundai Affiliates Trigger Alarm Among Investors
SOUTH KOREA
Aug Korea Merchant Banking declared insolvent, ops to be suspended for 3 mths
Woo Bang Housing files for court receivership
Corporate credit crunch may dampen economic growth
SKorea May insolvency ratio rises to 0.19 pct vs 0.16 in April
S KOREA DRAWS UP GUIDELINE FOR FINANCIAL HOLDING CO
Banking Sector Likely To See Additional Insolvencies Worth 2-3 Trln.
Seoul provides funds for Korea Merchant Banking
Creditor group rejects debt restructuring for Saehan Ind.
Loans to Two Hyundai Affiliates Trigger Alarm Among Investors
JAPAN Sep Corporate Bankruptcies rise Sogo's Tama store closes Phoenix Resort seeking aid in restructuring Sogo's erratic aristocrat: MANAGEMENT JAPANESE RETAILING: Aug Rehabilitation is choice for failed Taisho: administrator June COMPANIES & FINANCE: ASIA-PACIFIC: Nihon files for bankruptcy Japan Building Project Goes Bust, Leaving 2nd Biggest Debt Ex-LTCB affiliate goes under with biggest debt under new law JAPAN S DAI ICHI HOTEL REAL ESTATE ARM APPLIES FOR LIQUIDATION Failed Namihaya Bank to be taken over by Daiwa Bank group+. May Court Permits Nagasakiya to Start Rehabilitation Debt-ridden Seiyo Corp. likely to be liquidated Daihyaku Life Insurance collapses; govt to guarantee payouts Daiwa Bank, Bank of Kinki agree to take over Namihaya Bank
JAPAN
Corporate Bankruptcies rise
Sogo's Tama store closes
Phoenix Resort seeking aid in restructuring
Sogo's erratic aristocrat: MANAGEMENT JAPANESE RETAILING:
Rehabilitation is choice for failed Taisho: administrator
COMPANIES & FINANCE: ASIA-PACIFIC: Nihon files for bankruptcy
Japan Building Project Goes Bust, Leaving 2nd Biggest Debt
Ex-LTCB affiliate goes under with biggest debt under new law
JAPAN S DAI ICHI HOTEL REAL ESTATE ARM APPLIES FOR LIQUIDATION
Failed Namihaya Bank to be taken over by Daiwa Bank group+.
Court Permits Nagasakiya to Start Rehabilitation
Debt-ridden Seiyo Corp. likely to be liquidated
Daihyaku Life Insurance collapses; govt to guarantee payouts
Daiwa Bank, Bank of Kinki agree to take over Namihaya Bank
HONG KONG, CHINA Sep Interform Ceramics suspended pending receivership announcement June Guangnan, GDI debt restructuring talks progressing smoothly Transparency to come at a price Billing scrutiny proposal to hit creditors in pocket as practitioners clock in every six minutes Zhengzhou Baiwen seeking restructuring opportunities/ bankruptcy possible Guangdong Enterprises expects to complete restructuring by August May Peregrine unit payouts in July
HONG KONG, CHINA
Interform Ceramics suspended pending receivership announcement
Guangnan, GDI debt restructuring talks progressing smoothly
Transparency to come at a price Billing scrutiny proposal to hit creditors in pocket as practitioners clock in every six minutes
Zhengzhou Baiwen seeking restructuring opportunities/ bankruptcy possible
Guangdong Enterprises expects to complete restructuring by August
Peregrine unit payouts in July
INDONESIA June IBRA loses another legal fight against defaulters Supreme Court rejects IBRA appeal in Sumi Asih bankruptcy case May Indonesia Supreme Court Rules Bakrie Finance Bankrupt Dharmala Sakti Sejahtera declared bankrupt IBRA asks Supreme Court to review Ometraco/Sumi Asih cases
INDONESIA
IBRA loses another legal fight against defaulters
Supreme Court rejects IBRA appeal in Sumi Asih bankruptcy case
Indonesia Supreme Court Rules Bakrie Finance Bankrupt
Dharmala Sakti Sejahtera declared bankrupt
IBRA asks Supreme Court to review Ometraco/Sumi Asih cases
SINGAPORE June Bankruptcy dips as economy picks up May Court orders winding up of Tong Tien See
SINGAPORE
Bankruptcy dips as economy picks up
MALAYSIA
June Receivers and managers for RHTB named
Receivers and managers for RHTB named
INDIA Sep India: Cleaning up the insolvency system India: Eradi panel for changes in insolvency law India: BIFR confirms wind-up of Perfect Drugs
INDIA
India: Cleaning up the insolvency system India: Eradi panel for changes in insolvency law India: BIFR confirms wind-up of Perfect Drugs
India: Eradi panel for changes in insolvency law India: BIFR confirms wind-up of Perfect Drugs
India: BIFR confirms wind-up of Perfect Drugs
TAIPEI,CHINA
PAKISTAN
Miscellaneous Sep China's DITIC to be declared bankrupt Push coming to shove in bank restructuring, THE VIETNAM INVESTMENT REORGANIZATION OF SHANGHAI SHAPED STEEL CO. APPROVED China may see 9 in 10 dotcoms going bankrupt this year: report June Tanzania to Restructure State-Owned Banks, XINHUA Surya Dumai sees debt restructuring completed by yearend instead of June BSP, PDIC raps vs Urban next week exclude DOSRI abuse? ASB rehab efforts face another bank rejection Time Engineering creditors meeting postponed
Miscellaneous
China's DITIC to be declared bankrupt
Push coming to shove in bank restructuring, THE VIETNAM INVESTMENT
REORGANIZATION OF SHANGHAI SHAPED STEEL CO. APPROVED
China may see 9 in 10 dotcoms going bankrupt this year: report
Tanzania to Restructure State-Owned Banks, XINHUA
Surya Dumai sees debt restructuring completed by yearend instead of June
BSP, PDIC raps vs Urban next week exclude DOSRI abuse?
ASB rehab efforts face another bank rejection
Time Engineering creditors meeting postponed