In January 1998, Peregrine Investments Holdings Ltd, once billed as "The only indigenous investment bank in Asia," was forced into liquidation after the revelation of huge losses in its fixed-income business and the withdrawal of potential investors from Europe and the United States. Peregrine was the most high-profile corporate failures in the Asian financial crisis to date. Firms that appeared to be on top of their world in early 1997, collapsed under a pile of bad debt in less than a year. Peregrine demise raised questions about how the firm could avoid defeat. This case can be used to teach corporate governance and development strategies in unstable conditions. "Hide
by Michael Enright, Vincent Mak Source: University of Hong Kong, 25 pages. Publication Date: November 9, 2001. Prod. #: HKU168-PDF-ENG
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