Bankruptcy looms

One more possible bankruptcy is looming in China as the largest private steel maker in Shanxi has failed to repay debt totaling 3 billion yuan (HK$3.75 billion) on time. “Highsee Group’s 3 billion yuan debt was overdue last week,” the 21st Century Business Herald reported yesterday. “The company is running in red, and has failed […]

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Brodsky: N.Y.'s prospect of bankruptcy

“New York’s political class has been wrestling with what to do since Detroit filed for federal bankruptcy protection. Finger-pointing and more debt have been the response. The higher you go in the hierarchy, the easier it is to see the fear and¬†denial. The problem, it is said, is the result of local mismanagement and overspending. […]

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