Asia, Bankruptcy | featured news

Suntech, one of the world's biggest solar panel manufacturers, was forced in bankruptcy court Wednesday, becoming the latest casualty of a painful slump in the global solar industry.

Chinese government to force unprofitable automakers into involuntary bankruptcy... The Ministry said in a note published on Tuesday that it is considering the introduction of a withdrawal mechanism to force near-bankrupt automakers out of the bloated automotive industry. China has around 1,300 automobile makers, including 171 car, truck and bus makers and more than 900 specialty vehicle manufacturers, according to the government.

Japan Airlines soon is expected to emerge after less than three years in bankruptcy. Ashikaga Holding has been a classic "zombie company," taking nearly a decade to resume trading. That contrast could prove a tipping point for changing Japanese attitudes toward filing for bankruptcy.

JAL will shrink dramatically under a government-led restructuring plan, cutting significantly its work force, its routes, and the number of affiliated companies launched when the airline tried to diversify into a broad-based service firm.