US firms eye bank's bad loans - Taiwan

[dArKeR]

WHERE THERE'S MUCK, THERE'S BRASS: Two large security firms may be interested in obtaining NT$38 billion worth of bad loans from the failed Chung Shing Bank

BLOOMBERG
Wednesday, Nov 19, 2003,Page 11

Terry Chan, director of financial services ratings at Standard & Poor's in Hong Kong
Lehman Brothers Holdings Inc, the fourth-largest US securities firm, and Lone Star Funds, the biggest investor in distressed Asian debt, may bid for about NT$$38 billion (US$1.12 billion) of bad loans held by failed Chung Shing Bank (中興銀行), a Taiwanese government official said.

Cerberus Asia Capital Management LLC and Colony Capital LLC, which is bidding with Lehman, may also try to buy the loans from the lender, which was placed under government supervision after it collapsed three years ago, said an official at Central Deposit Insurance Corp (中央存保公司), who asked not to be identified.

http://www.taipeitimes.com/News/biz/archives/2003/11/19/2003076457

WHERE THERE'S MUCK, THERE'S BRASS
WHREE THERE'S BUSH, THERE'S FECES