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Danish company Scandinavia Farms Invest has gone bankrupt after only a few years and at least half a billion danish crowns invested, ScandAsia reported. Scandinavian Farm Invest has been running a big pig farm between Beijing and Shanghai. It had been one of the most effective farms in the country before everything started to go wrong. It wasn’t just one drop that made the cup overflow, but many things that started to go wrong for pig production in China. Tricky market conditions included an increase in the price of the feed, while the price of pig meat has decreased.
Scandinavian airline SAS AB will cancel and redeem all of its common shares and commercial hybrid bonds when it emerges from chapter 11 bankruptcy proceedings in the U.S. around June, Bloomberg News reported. “SAS reiterates its expectation that there will be only a modest recovery for general unsecured creditors, no recovery for subordinated creditors and no value for SAS AB’s existing shareholders,” the carrier said in a statement released at 11 p.m. Stockholm time on Tuesday.
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