Lebanon: To Be or Not to Be?

When the main office of Lebanon's Intra Bank reopened last month to pay off holders of small savings accounts, hopes rose that the country's biggest bank might soon be out of the crisis that had shuttered it and slowed much of the country's business since October. Last week Intra received a new setback, this time from the courts.

Hoping to stave off liquidation and gain time to arrange new financing, Intra had asked Lebanon's Commercial Court for a three-year grace period in which to repay all of its depositors. Going over Intra's...

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