* MARCH 5, 2009
http://online.wsj.com/article/SB123620771231333743.html?mod=
Lenders fear Chinese insolvencies
HONG KONG -- Foreign lenders who rushed into China in recent years are watching nervously as a number of companies there teeter on the brink of insolvency. Their worry: The nation's bankruptcy laws may leave them with virtually nothing.
Several big Western investors -- Citigroup Inc., hedge-fund manager Citadel Investment Group LLC, Credit Suisse Group and CLSA Capital Partners -- are seeking to get back between $100 million and $200 million in loans extended to a Chinese steelmaker, according to people familiar with the matter. While they might recoup some of the money under a restructuring, a liquidation could wipe ...
http://online.wsj.com/article/SB123620771231333743.html?mod=
Lenders fear Chinese insolvencies
HONG KONG -- Foreign lenders who rushed into China in recent years are watching nervously as a number of companies there teeter on the brink of insolvency. Their worry: The nation's bankruptcy laws may leave them with virtually nothing.
Several big Western investors -- Citigroup Inc., hedge-fund manager Citadel Investment Group LLC, Credit Suisse Group and CLSA Capital Partners -- are seeking to get back between $100 million and $200 million in loans extended to a Chinese steelmaker, according to people familiar with the matter. While they might recoup some of the money under a restructuring, a liquidation could wipe ...