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 station Channel Islands, most of the operations of the network have been absorbed into that entity. Moreover, the separately owned station serving northern and central Scotland (STV) and the ITV plc-owned UTV often deviate significantly from the schedule of the ITV channel as programmed by ITV plc. As a result of this restructuring and other changes in the relationship between ITV and STV, the Channel 3 franchises owned by ITV plc could now be considered ITV owned-and-operated stations, with STV being comparable to an affiliate. From 1982 to 2010, a somewhat comparable situation existed for the fourth channel allocation, with Channel