Rule of mother-in-law
Article Abstract:
Evergo International, owned by brothers Joseph and Thomas Lau, withdrew its Scheme of Arrangement (SOA) application to the Supreme Court of Bermuda on Apr 1, 1992, thus aborting the privatization of the Hongkong company Chinese Estates Holdings Ltd. Hongkong regulators objected that the Laus maneuvered with allies to fill a crucial percentage of independent shareholder votes required to approve the SOA with non-independent shareholder votes. Furthermore, voting was affected by a shareholder who organized and partly financed a campaign to influence other independent shareholders.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Rescuers overwhelmed
Article Abstract:
The most recent efforts to rehabilitate the Hongkong branch of the Bank of Credit & Commerce Hong Kong Ltd have failed. The failure was due to charges that the efforts were insufficient to satisfy the courts and the Bank of Credit &Commerce International (BCCI) liquidators. BCCI liquidators from San Francisco claim HK$570 million while BCCI's Cayman Islands branch has claims for HK$275 million. The recent rescue effort was made by the Lippo group of Indonesia.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Cape of high yields
Article Abstract:
Investment in South Africa may be risky but the high rate of returns on bonds can be rewarding. South African bonds had 30% to 40% rate of return in 1990 and 1991. Stability of the Rand, the South African currency, and high interest rates are credited with the high yield of bonds. Another factor for the remarkable performance of bonds is the monetary exchange system using separate currencies for the domestic economy and foreign investments in South Africa.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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