Peter Baring: [getting off the phone] That was the Sultan of Brunei's office. They've decided not to proceed, they believe the risks are too great and the time too short in view of the need to have a rescue package in place by the time the markets open again in the Far East.Simon Jones: Is there really no one else?Peter Norris: We've tried everyone. It's hopeless.Peter Baring: I therefore have to inform you that Barings is insolvent and will go into immediate liquidation.[Peter Norris bursts into tears]
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