FRC approves sale of Kofuku Bank to ARF

FRC approves sale of Kofuku Bank to ARF

OSAKA, Japan - U.S. financier Wilbur Ross (L) speaks at a news conference in Osaka on Oct. 6 after the Financial Reconstruction Commission (FRC) approved the sale of failed Kofuku Bank to the Asian Recovery Fund (ARF), an investment fund he heads. Seated on the right is Shuichi Takahashi, who will assume the presidency of the regional bank. At center is an interpreter.

Failed Kofuku Bank to be sold to U.S. investor group

Failed Kofuku Bank to be sold to U.S. investor group

OSAKA, Japan - Wilbur L. Ross (R), chairman of Asian Recovery Fund, an investment fund, speaks at a news conference in Osaka on May 18 after Japan's Financial Reconstruction Commission (FRC) and a group of FRC-appointed reorganization administrators of Kofuku Bank decided to sell the failed bank to his fund. Asian Recovery Fund will establish a new bank to take over the Osaka-based bank at the end of December.

FRC approves sale of Kofuku Bank to ARF

FRC approves sale of Kofuku Bank to ARF

OSAKA, Japan - U.S. financier Wilbur Ross (L) speaks at a news conference in Osaka on Oct. 6 after the Financial Reconstruction Commission (FRC) approved the sale of failed Kofuku Bank to the Asian Recovery Fund (ARF), an investment fund he heads. Seated on the right is Shuichi Takahashi, who will assume the presidency of the regional bank. At center is an interpreter.

Failed Kofuku Bank to be sold to U.S. investor group

Failed Kofuku Bank to be sold to U.S. investor group

OSAKA, Japan - Wilbur L. Ross (R), chairman of Asian Recovery Fund, an investment fund, speaks at a news conference in Osaka on May 18 after Japan's Financial Reconstruction Commission (FRC) and a group of FRC-appointed reorganization administrators of Kofuku Bank decided to sell the failed bank to his fund. Asian Recovery Fund will establish a new bank to take over the Osaka-based bank at the end of December.