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  • Asia Aluminum PIK holders officially hosed 27 June, 2009

    Asia Aluminum was last Wednesday sold to a management team including founding chairman Kwong Wui-chun for US$475m. The sale followed a Hong Kong court ruling in a deal one hedge fund described as “one of the biggest stitch-ups in the history of Asian restructuring”.

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Up Front Hollowed grounds

The financial crisis clarified one point. Beyond the Grade A office leases, the wood-panelled lobbies and the high-powered marketing, investment banks are somewhat ethereal institutions. They come, they go – they hire, they fire. They are as about as good as their advertising, with a lot of huff and puff standing behind logos that are routinely bought, absorbed and then abandoned through each boom and bust cycle. read more

Credit Trading

  • Bad news is no news, as markets lack direction27 June, 2009

    Confused signals from the US all week gave Asian bonds little direction. To give just one example, an unexpected jump in jobless claims on Thursday night (Labor Department figures showed that new filings rose 15,000 to 627,000 in the week ended June 20, against an expected 3,000-claim decline) were ignored by equities.

Marketplace

  • Eleven banks investigated for mini-bond misconduct: SFC27 June, 2009

    Bank of China has agreed to buy back Lehman mini-bonds sold to retail investors. Bank of China, one of the territory’s largest distributors of the product, has submitted a proposal to the SFC to buy back the products at 60% of the original value, said sources.


Fri, 3 July, 2009

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