Revealed: 11 ISG firms went into liquidation

Eleven firms in the ISG family – including the UK holding company – entered liquidation rather than appointing administrators, Construction News can reveal. In September, accountancy firm EY was appointed as the administrator for eight of ISG’s most well-known companies after the £2.2bn-turnover firm’s collapse that month. New analysis by CN shows that during the two…

Is China witnessing its Lehman moment as Zhongrong shadow bank that managed $108 bn faces liquidation? – Firstpost

China’s shadow banking and trust industry, once a pillar of high returns for wealthy investors, is now in crisis due to the property market collapse. The government is letting investors bear the losses, signalling a new era of financial discipline, but at the cost of undermining confidence in the system. The Zhongrong International Trust Co,…