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 Stockton, California from the Sinclair Broadcast Group in May 2005. On February 7, 2007, CBS announced the sale of its owned-and-operated stations in Salt Lake City (KUTV and its satellite in St. George, Utah, KUSG) and Austin (KEYE-TV) to Four Points Media Group, a holding company owned by Cerberus Capital Management as part of a group deal which also included two CW owned-and-operated stations (WTVX in West Palm Beach and WLWC in Providence), one low-power MyNetworkTV affiliate and one low-power Azteca América affiliate (both located in West Palm Beach). Six days later, CBS announced that it was swapping its O&O