| Abstract | The Securities and Futures Commission ("SFC") has been informed by the Cresvale Group of Companies ("Cresvale") that, arising from a failure by the shareholders of the Bank's holding company, Compagnie Industrielle a Paris ("Comipar"), to reach agreement to re-capitalise the bank following a series of bad property loans, the French Banking Commission had appointed a provisional administrator to Banque Pallas Stern ("the Bank"), which is the majority shareholder of Crescvale, on Friday, 23 June 1995 at the request of the Bank. |
|---|
