China Aviation gets six week breather

China Aviation Oil (CAOSCO) has been granted a six week extension by the High Court of Singapore to its deadline to submit its scheme of arrangement restructuring plan, due today. The new deadline is January 21, 2005.

Meanwhile a leading Singapore based investigator, who asked not to be named, said an interim report into the scandal would be available “by the middle of next week,” although he pointed out “these things are never predictable. It’s a pretty complicated mess. And the scope changes the more work you do.”

“Everybody is keen to get something out in public because everybody is guessing [what happened] right now. There have been some pretty educated guesses [based around chief executive Chen Juilin

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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