Kansai Sawayaka Bank launched, takes over failed Kofuku Bank

Kansai Sawayaka Bank launched, takes over failed Kofuku Bank

OSAKA, Japan - Shuichi Takahashi (2nd from L), president of Kansai Sawayaka Bank, takes part in a tape-cutting ceremony in front of the bank's head office in Osaka's Nishi Ward on Feb. 26. Kansai Sawayaka, created mainly by an investment fund led by U.S. financier Wilbur Ross, began operations the same day, taking over Kofuku Bank, a failed second-tier regional bank based in Osaka.

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.

Ex-president of Kofuku Bank arrested

Ex-president of Kofuku Bank arrested

OSAKA, Japan - Tokusuke Egawa, former president of failed Kofuku Bank which is under temporary state control, leaves his home Sept. 16 to report to police. He was arrested later with two other former executives of the bank on suspicion of extending unauthorized loans to a real estate affiliate.

Kansai Sawayaka Bank launched, takes over failed Kofuku Bank

Kansai Sawayaka Bank launched, takes over failed Kofuku Bank

OSAKA, Japan - Shuichi Takahashi (2nd from L), president of Kansai Sawayaka Bank, takes part in a tape-cutting ceremony in front of the bank's head office in Osaka's Nishi Ward on Feb. 26. Kansai Sawayaka, created mainly by an investment fund led by U.S. financier Wilbur Ross, began operations the same day, taking over Kofuku Bank, a failed second-tier regional bank based in Osaka.

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.

Ex-president of Kofuku Bank arrested

Ex-president of Kofuku Bank arrested

OSAKA, Japan - Tokusuke Egawa, former president of failed Kofuku Bank which is under temporary state control, leaves his home Sept. 16 to report to police. He was arrested later with two other former executives of the bank on suspicion of extending unauthorized loans to a real estate affiliate.