Who has the Responsibility for Disclosing Companies" Sensitive Information?

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Who has the Responsibility for Disclosing Companies" Sensitive Information?

Five commercial banks, ChoHung, Hanil, Korea First, Korea Exchange and the Korea Commercial bank, are proceeding with restructuring operations for companies. In this process, the banks draw up a contract with foreign finance companies to act as consultants for the restructuring.
But nowadays, banks and foreign finance companies are far from satisfied with the arrangement and with each other. Foreign companies are unsatisfied with the lack of important and necessary information that banks are providing. Korean banks do not deny the charge but insist that their refusal to provide certain information for companies is justified because responsibility for unveiling information must be decided first. The banks say that because the information is of a sensitive nature and very important for the companies' management activities, the disclosure of that information should be safe-guarded and any liabilty and responsibility issues should be solved before hand.
The sensitive information, such as producing prices and raw material prices of companies as well as the conditions for raising capital in international markets of overseas subsidiaries could be potentially jeopardized.
Foreign finance companies consulting with the five banks are as follows: ING Barings (Korea Exchange); Lehman Brothers (Korea First); Schroder (Hanil), Delotte Touche Thomas (Commercial) and Rothchild (Che Hung)
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