May 31, 2010

J-Will and Daikyo To Sponsor Failed Condo. Developer

Anabuki Construction Inc., a bankrupt condominium developer, announced that a consortium of Daikyo Inc., one of the largest condo. developers, and J-Will Partners, a Tokyo-based investment firm, won the bid for the firm from among 30 contenders. Since Anabuki filed for court protection from creditors under the corporate rehabilitation law last November, the bankruptcy administrator has held a couple of auctions to select the sponsor of Anabuki's rehabilitation.

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