Real estate developer EIE International Corp. and its affiliate General Lease Co. have been declared bankrupt by the Tokyo District Court, a private credit research agency said Wednesday.
Teikoku Databank Ltd. estimates the combined debt of the companies at 600.9 billion yen -- 476.4 billion yen held by EIE International and 124.5 billion yen by General Lease.
The court declared bankruptcy for the two firms last Friday, Teikoku said.