Updated Saturday, July 19, 2008 0:00 am TWN, AFP

Japan top court acquits executives in bank collapse

TOKYO -- Japan’s top court on Friday overturned the conviction of executives over the 1998 collapse of Shinsei Bank’s predecessor, one of the biggest casualties of the country’s bad loan crisis. Japan’s banking system was hit by a mountain of non-performing loans after the so-called “bubble economy” collapsed in the early 1990s, hobbling the nation’s recovery for years.

The Supreme Court acquitted Katsunobu Onogi and two other executives of the failed Long-Term Credit Bank of Japan, which was put under state control in 1998. The Tokyo district and high courts had earlier found the three guilty of failing to follow guidelines to gauge bad loans.

 

 

 

 

 

 

 

 

Subscribe to The China Post and save.  Click hereSharePrintEmail
Write a Comment



CAPTCHA Code Image
Change the code
 Receive China Post promos Respond to this email
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Guide  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   English Courses  |   Terms of Use  |   Sitemap