Spurred on by government incentives and bargain-basement prices, the Chinese are planning to pump hundreds of millions -- perhaps billions -- of euros into Greece even as other investors run the other way, The Washington Post reported. The cornerstone of those plans is the transformation of the Mediterranean port of Piraeus into the Rotterdam of the south, creating a modern gateway linking Chinese factories with consumers across Europe and North Africa.

The former Fortescue Metals chairman Gordon Toll may feel slightly conflicted next week when shareholders of Compass Resources vote on a proposed recapitalisation of the miner. It is never easy being a major creditor and chairman of a former sharemarket darling that has been placed into voluntary administration, The Sydney Morning Herald reported. It is even harder when you ask shareholders of a company once worth $770 million to vote on a deed of company arrangement under which their stake will be diluted to 5 per cent, in return for cancelling out $73 million of debts.

Japan Airlines is experiencing passenger demand ahead of the conservative expectations outlined in its restructuring plan, the airline's president said on Sunday. The success of the plan does not rely on a certain level of passenger demand, but JAL is ahead of where it expected to be, Masaru Onishi told Reuters on the sidelines of the International Air Transport Association's annual meeting. Onishi added that the implementation of the restructuring plan was generally on track.

An insolvency practitioner says a High Court decision that the taxman still comes first in a voluntary administration undermines the fledgling system and may deny struggling businesses the chance to avoid liquidation, The New Zealand Herald reported. Voluntary administration was introduced in 2007 as an alternative to liquidation or receivership. The aim is to rehabilitate companies, and it can result in unsecured creditors getting more of their money back.

Listed agricultural property investment company ARK Fund has been put into voluntary administration, following the path of associated private entity Rewards Group, Western Australia Business News reported. ARK Fund advised the ASX today that Kim Strickland and David Hunt of WA Insolvency Solutions had been appointed after National Australia Bank ended an arrangement that had bought the property group time to restructure via a proposed merger with a recapitalised Rewards Group.

Alliance Bank, Kazakhstan's sixth-largest lender by assets, plans to issue $1 billion of recovery notes with a maturity of seven years as it returns to profit this year following its debt restructuring, Reuters reported. Alliance, the first of four Kazakh banks to default on its debt, expects a profit of 448 billion tenge ($3.0 billion) in 2010, Chief Executive Maksat Kabashev said on Tuesday. He said the following three years would also be profitable.

ABC Learning creditors have voted to wind up the failed childcare group following the longest administration in Australian corporate history, The Sydney Morning Herald reported. Fifteen people attended today's creditors' meeting in Brisbane to decide on the company's liquidation and to receive a report from administrators. The decision to liquidate the group comes 19 months after the once-profitable business empire started by Eddy Groves was placed into voluntary administration. ABC Learning was at one stage the biggest listed childcare operator in the world.

Dubai International Capital, an investment arm of conglomerate Dubai Holding, has asked lenders for a three-month extension on some of its debts, underscoring the financial challenges still facing the city-state, Dow Jones Daily Bankruptcy Review reported. The news comes six months after Dubai's much larger conglomerate Dubai World shocked markets by announcing a standstill on its own debt pile. Last week, Dubai World said it has agreed in principle with its main creditors to restructure $23.5 billion of debt and said it would seek a final deal with all its creditors by the end of June.

Seven companies have joined the race to acquire Ssangyong Motor Co. by submitting separate letters of intent to deal adviser Macquarie Securities Korea, cash-strapped Ssangyong Motor said Friday, Dow Jones Daily Bankruptcy Review reported. Ssangyong Motor didn't name the seven companies, citing a confidentiality agreement. Local media earlier Friday reported that two Indian companies - Mahindra & Mahindra Ltd. and Ruia Group - as well as three Korean companies: Renault Samsung Motors Corp., Young An Hat Co. and Seoul Invest are interested in bidding for Ssangyong Motor.

Australian shopping mall giant Westfield Group on Thursday ruled out a bid for General Growth Properties Inc., instead preferring to cherry pick individual assets its U.S. rival may put on the market, Dow Jones Daily Bankruptcy Review reported. With the retail sector looking up in its main markets and a robust balance sheet boasting almost $6.59 billion liquidity, Westfield - the world's biggest owner of shopping centers by value - decided against entering a bidding war for General Growth, which is under U.S. bankruptcy protection.