Hong Kong Property Woes Weigh on Schroders as Banks Seize Assets [Yahoo! Finance]
BANK OF COMMUNS UNSP/ADR (BCMXY)
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Source: Yahoo! Finance
Within just a few months, two assets managed by its property investment arm have been seized by bank creditors. Most Read from Bloomberg NYC Grapples With a Weighty Dilemma: What To Do About Trucks London Commuters Face Travel Chaos as Tube Strike Hits Hard Philadelphia Transit Hub to Get Funding Bailout to Reverse Cuts A Looming End to $1-a-Month Home Rentals Stokes Worries in Egypt As Immigration Crackdown Expands, Citizen Activists Observe and Report Now it faces a new challenge relating to a loan for a three-floor commercial space at Harbourfront Landmark in Hong Kong's Hung Hom district. The facility was not repaid on the original maturity date. The lender, Bank of Communications (Hong Kong) Ltd., is now weighing various options for the loan including potentially demanding immediate repayment and then enforcing it, according to people familiar with the matter. No final decision has been made, they added. Schroders' losses underscore the increasing strain global f
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