Alliance Semiconductor Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Alliance Semiconductor

ALSC 0.810

0.0%

Jul 10 5:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Norrin Radd who wrote (4755)	3/12/1999 3:58:00 PM
From: DJBEINO	Read Replies (1) of 9582

Korean banks' debt-to-equity swaps may be illegal, U.S. says A service of Semiconductor Business News, CMP Media Inc. Story posted 1:30 p.m. EST/10:30 a.m., PST, 2/23/99 By Jack Robertson WASHINGTON -- Treasury and Commerce officials this week told a Senate Banking International Finance subcommittee hearing that the U.S. is watching closely to be sure South Korean banks don't attempt to bail out chip makers in that country by converting existing massive debts to equity, it was learned here today. Timothy Geithner, undersecretary of the treasury, and Pat Malloy, director of market accessing and compliance at the Commerce Department, said such debt-to-equity swaps could violate the U.S. law barring IMF funding to Korean banks from bailing out chip companies. Subcommittee Chairman Michael Crapo (R-Ida.) expressed concern that a proposed debt-to-equity swap for Anam Semiconductor Co. might be just such a bailout (see Feb. 24 story). The government officials said no deal has yet been completed and they were closely monitoring the situation

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next