Toshiba Corp filed twice-delayed business results on Tuesday without an endorsement from its auditor and warned its very survival was in doubt, deepening a prolonged crisis at the Japanese conglomerate, Reuters reported. "There are material events and conditions that raise substantial doubt about the company's ability to continue as a going concern," Toshiba said in announcing bigger than previously estimated losses for the nine months through December.

South Korea’s National Pension Service has a decision to make -- help the world’s biggest shipmaker survive, or let it die. Creditors to Daewoo Shipbuilding & Marine Engineering Co. are due to meet next week to decide whether to convert some of the 1.55 trillion won ($1.4 billion) of bonds into equity to help the unprofitable company, Bloomberg News reported. Tipping the scale will be the decision of NPS, the biggest holder of debt that matures this month.

Amid “Trumpflation” trades and nerves over eurozone political risk, one corner of Europe’s debt markets has been quietly motoring along: Cyprus. Having undergone a €10bn banking rescue at the hand of creditors in the EU and International Monetary Fund in 2013, Cyprus exited its bailout programme last year and has seen its government borrowing costs tumble to 15 year lows since, the Financial Times reported. The yield on the country’s comeback 10-year bond issued in late 2015 has fallen to as low as 3.2 per cent from a peak of just over 4 per cent at the start of last year.

Japanese investors ramped up their selling of French government debt to a record pace in February as bondholders shuddered at polls showing rising support for eurosceptic candidate Marine Le Pen in the country’s upcoming presidential elections, the Financial Times reported. Money managers in Japan dumped ¥1.58tn (€13.4bn) of French bonds in the fourth consecutive month of net sales as the country’s long-running favourite for the presidency, François Fillon, was engulfed by an embezzlement scandal.

With the government recently notifying the cross-border insolvency provisions under the insolvency and bankruptcy law, claims of foreign creditors, as well as those of Indian creditors on foreign assets of the company going insolvent, could be satisfied by courts. However, experts believe that notifying the rules is not enough and New Delhi will have to sign agreements with governments of other countries in this regard, the Business Standard reported. Before this, creditors, particularly foreign ones, had been raising this issue.

China’s anti-corruption investigators are targeting the country’s top insurance regulator, throwing doubt over an industry that has been behind a wave of blockbuster global deals but has raised concerns about financial risk in the world’s second-largest economy, the International New York Times DealBook blog reported.

The first ever downgrade of a Chinese local-government financing vehicle by an international ratings agency is reigniting concern over the debt-saddled entities, amid angst there could be more cuts to come, Bloomberg News reported. S&P Global Ratings reduced its credit rating on Jiangsu NewHeadline Development Group, a construction services provider and one of the largest financing firms owned by Lianyungang City -- in China’s eastern Jiangsu province -- by one notch to BB Thursday.

Toshiba’s chances of remaining a listed company are bleak as the crisis-hit industrial group scrambles to meet a third accounting deadline, analysts warn. The warnings come as executives among Toshiba’s creditors — an 80-strong group of big banks and regional lenders — have been told to prepare for the possibility that the company will fail to produce audited earnings numbers for the October-to-December quarter of 2016 when they are due on April 11, according to two people close to the company.

China’s so-called bad banks are thriving as alternative lenders, evolving from bad-debt managers into some of the country’s largest financial conglomerates just as margins at the big state-owned banks come under pressure, the Financial Times reported. China’s four centrally controlled asset management companies (AMCs) were set up in 1999 to swallow toxic assets from banks, and have had their assets grow expansively over the past five years.

Worried about layoffs and soured loans, governments and banks across Asia continue to dole out cheap financing and other support to keep failing firms -- corporate zombies -- alive, a Bloomberg View reported. The hope is that they'll become sustainable businesses again if growth revives. But in fact, these same companies are undermining the global economy, wasting resources, stifling productivity gains -- and thus forestalling the very recovery they're hoping will save them.