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Commercial banks in Singapore may undertake universal banking, such as the taking of deposits and the provision of cheque services and lending, as well any other business authorised by the Monetary Authority of Singapore, including financial advisory services, insurance brokering and capital market services, as long as they are permitted under section 30 of the Banking Act.
Cape Fear Bank: Chapter 11 bankruptcy and liquidation financial company [58] April 10, 2009: New Frontier Bank: Chapter 11 bankruptcy and liquidation Bank [59] April 17, 2009: American Sterling Bank: Metcalf Bank: Bank [60] April 24, 2009: American Southern Bank: Georgia Department of Banking and Finance: Bank $ 216,600,000 [61] May 8, 2009 ...
After 3 years, both banks were put into bankruptcy, a new nationalized bank was created and the assets of the two bankrupt banks and the bank accounts of local account holders were transferred to the new bank and the local depositors were made whole by stealing about $180 million of money belonging foreign depositors, who lost their entire savings.
Logo of the Insolvency and Public Trustee's Office. The Insolvency & Public Trustee's Office (IPTO) in Singapore is a department under the Ministry of Law.IPTO oversees the administration of individual and corporate insolvencies, the administration of small intestate estates and un-nominated Central Provident Fund (CPF) monies, as well as the licensing and regulation of moneylenders and ...
On July 13, 2015, DonJon filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Connecticut with a debt of $32,509,549.91. Modern bankruptcy law often distinguishes reorganization , in which only some of the bankrupt's assets are taken, a repayment plan is devised and part of the debt is discharged , from ...
Hin Leong Trading was a commodity trading corporation [1] registered and headquartered in Singapore that was founded in 1963 by Lim Oon Kuin. One of Singapore's largest independent oil traders, the firm collapsed in 2020 amid allegations of $800 million in undisclosed losses. [2] Hin Leong filed for bankruptcy protection in April 2020. [3]
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Singapore: SG1CF3000008: 28 June 1999 A-Sonic Aerospace Limited: Singapore: SG1CH8000009: 17 September 2003 ABF Singapore Bond Index Fund: Singapore: SG1S08926457: 31 August 2005 ABR Holdings Limited: Singapore: SG0533000253: 7 November 2008 Abterra Ltd: Singapore: SG2C12961455: 15 June 2000 Accordia Golf Trust: Singapore: SG1AB5000009: 1 ...