Zhongzhi Enterprise Group: Chinese shadow bank files for bankruptcy
The troubled firm reportedly told investors in November its liabilities had outstripped its assets.
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Gautam Singhania: Domestic abuse claims threaten India tycoon’s fortune
“Close to 96% of the net worth of the promoters of India’s wealthiest families is parked in trusts,” said Rishabh Shroff, partner at Cyril Amarchand Mangaldas, a Mumbai law firm. “These structures are increasingly attractive to wealthy business families, to shield their assets and insulate their businesses from insolvency, family or creditor disputes.”
