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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Sergio R. Mejia who wrote (19893)	9/27/1998 1:21:00 PM
From: Alex	Read Replies (1) of 116762

Sources Report Japan's Biggest Bankruptcy TOKYO (Reuters) - Japan Leasing Corporation filed for bankruptcy Sunday in the country's biggest financial failure -- involving 2.2 trillion yen ($16.1 billion) in debt -- since World War Two, authoritative sources said. Japan Leasing Corporation was one of three non-bank affiliates of troubled Long-Term Credit Bank of Japan Ltd. (LTCB), whose future had held up agreement between Prime Minister Keizo Obiuchi's government and opposition parties about legislation to get Japan out of its economic recession. Opposition parties had opposed a government plan to use public funds to keep LTCB afloat. The authoritative sources said the company filed for bankruptcy with a Tokyo court late Sunday. Japanese media reports said major lenders to Japan Leasing Corporation were Sumitomo Trust, Mitsubishi Trust and LTCB. dailynews.yahoo.com

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