UPDATE 1-Takefuji’s liabilities may swell to 1.3 trln yen – Nikkei

March 31 (Reuters) – Failed consumer lender Takefuji Corp’s
liabilities are likely to swell to around 1.3
trillion yen on mounting refunds for overcharged interest, the
Nikkei business daily reported.

The company, which went under in SeptembeDr with liabilities
of 430 billion yen, has been accepting requests from customers
to repay excess interest payments, the daily said.

Around 1 million borrowers had sought paperwork by the
February deadline, with more than 900,000 likely filing
requests, Nikkei said.

Meanwhile, the moneylender’s assets, which stood at 580
billion yen when it failed, will not be finalized until sponsor
bidding and other processes are complete, it said.

Refunds could hit 1.2 trillion yen, far exceeding the
roughly 200 billion yen in reserves when it failed, the daily
said.
(Reporting by Tanya Agrawal in Bangalore)

UPDATE 1-Takefuji’s liabilities may swell to 1.3 trln yen – Nikkei