Chaebol General Motors and Renault. The chaebol debts were not only to state industrial banks but also to independent banks and their own financial services subsidiaries. The scale of the loan defaults meant that banks could neither foreclose nor write off bad loans without themselves collapsing, so the failure to service these debts quickly caused a systemic banking crisis, and South Korea turned to the IMF for assistance. The most spectacular example came in mid-1999, with the collapse of the Daewoo Group, which had some US$80 billion in unpaid debt. At the time, it was the largest corporate bankruptcy in history.
Owned-and-operated television stations in the United States amidst speculation that The Walt Disney Company might spin off ABC; both stations retained their ABC affiliations (SJL then flipped the stations to Gray Television, at a significant profit, in July 2014). When the sale was completed, KFSN in Fresno (at the time ranked as the 55th largest media market) would then become the smallest English-language owned-and-operated major network station by market size (not counting satellites and semi-satellites). The sale was completed on April 1, 2011. The Disney spin-off of ABC has never occurred, mainly due to insider trading allegations that scuttled the deal. In 1987, Fox purchased its Boston