Chase Manhattan Corp has agreed to join the banking committee being set up to sort out more than $5 billion in loans owed to foreign banks by Daewoo Group of South Korea.

Chase and Amsterdam-based ABN Amro NV are among the first nine banks to be asked to participate. Others are HSBC Holdings PLC, National Australia Bank Ltd., Bank of Tokyo-Mitsubishi Ltd., Dai-Ichi Kangyo Bank Ltd., UBS AG, ARAB Bank, and Citigroup.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.