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Debt left by soaring corporate failures nearly tripled in the fiscal first half compared with a year ago after the Japanese units of Lehman Brothers Holdings Inc. filed for bankruptcy, a private credit research agency said Wednesday. The total debt — ¥8.66 trillion — is the second-highest for the April-September period logged in the postwar era, Tokyo Shoko Research said. Lehman Brothers Japan Inc. and three other units of the failed U.S. investment bank left ¥4.7 trillion in debt, or 54.2 percent of the overall debt in the half, it said. The four local units filed for protection from creditors in September after the U.S. government and the securities industry allowed the U.S. parent to fail. In addition, 17 listed firms, including 11 real estate and construction companies, went belly-up in the six-month period, the agency... [read full story]
