Another Japanese Property Firm Bankrupt

July 2008 | Corporate Financing News Alert

On July 18, Japanese property developer Zephyr filed for bankruptcy protection with about US$893mn in debt on its books. The failure is the largest of a listed firm in Japan in almost five years. However, it is not alone. Over the past few months, numerous mid-sized real estate companies have folded as the credit crisis continues in the world's second-largest economy.

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