Sunday, July 20, 2008

INN: New Alhira Development Corporation collapses

NEW ALHIRA, DEMARIA - Almost overnight, one of the pillars of New Alhira's financial structure failed. This morning Director Mooncollar Stealthfoot filed for bankruptcy protection after a series of bad loans left the development bank unable to continue operations. Due to ongoing investigation by the Justice and Development ministries details about the loans have not been forthcoming. A Development Ministry spokesman assured holders of NADC loans that the law prevented the state run bank from calling those loans prematurely, a factor which contributed to its collapse.

- INN, Dapperfur Newschaser

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