First Natural has filed for "automatic liquidation" after the Chairman goes MIA and his brood and son inlaw making up the management team resigns en-mass. This was after unilaterally breaking an interest swap contract ill advisedly entered into with Douche Bank.
Waiting now to see if the RMB$798m (June 2008) worth of cash in the bank still exists.
Doesn't bode well at all, the chairman's probably in Canada sipping green tea infused with 12 year Chivas.
What are our friends at the HKEX or SFC doing about this? Having extra long yumchars and massages at their favourite institutions no doubt.
No comments:
Post a Comment