Value of influence is on the decline in China

Article Abstract:

Bank of China has sued New China Hong Kong Group Ltd and its owner Tsui Tsin-tong despite his strong connections with the bank and several powerful companies in the Chinese business community. Bank of China is one of the 54 founding shareholders in New China and is among several banks and companies that have already sued Tsin-tong and his investment bank for overdue debts. New China's diffuse shareholding is one reason why its powerful shareholders were not encouraged to help the bank.

United States, Investment Banking and Securities Dealing, Investment Banking, Security brokers and dealers, Investment banks, Hong Kong, Bank of China, New China Hong Kong Group Ltd., Tsin-tong, Tsui

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Dispute over derivative trade widens

Article Abstract:

Two companies belonging to Malaysia's Berjaya Group Bhd. have filed a suit in their country's High Court against three Credit Suisse units and Public Bank Ltd. to recover damages arising from a failed interest-rate swap deal. Public Bank had also filed a case against the plaintiffs in a UK court. The issue stems from an agreement to exchange interest obligations from different debt instruments.

Derivatives (Financial instruments), Credit Suisse (Zurich, Switzerland), Berjaya Group Bhd., Public Bank Bhd.

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Court judgment against Indonesia firm may not bring any relief to creditors

Article Abstract:

The New York State Supreme Court has ruled in favor of an international group of 29 banks which filed a lawsuit against PT Perusahaan Rokok Tjap Bentoel (PT Bentoel) for failing to pay its debts. The plaintiffs are seeking more than $140 million from the Indonesian company. However, lawyers for PT Bentoel expressed little concern over the ruling since it cannot be enforced in Indonesia.

Cigarettes, Cigarette Manufacturing, Tobacco industry, Breach of contract, Bank loans, PT Perusahaan Rokok Tjap Bentoel

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