VOL. XXXII
NO. 42
24-JULY-1989
Financial and Banking News
REGIONAL BANKING
Another Lebanese-owned Bank Fails in Paris
A third Lebanese bank based in Paris - Lebanese Arab Bank (LAB) - ran intotrouble last week, and the Banque de France has appointed a judicialadministrator to oversee the bank while it is being investigated. LAB, which hasbeen having problems for some time, is controlled by the Torbey family of Beirutwith a 25% direct stake. In addition a sister bank in Beirut (with the samename),...
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