SAPPORO (Kyodo) The Sapporo High Court on Thursday ordered 10 former board members of the now-defunct Hokkaido Takushoku Bank to pay a combined 4.14 billion yen in damages to a state-backed loan collection body for the bank’s huge loan losses, which led to its collapse in 1997.

Presiding Judge Koki Ito, in handing down the decision on three damages suits involving the Sapporo-based commercial bank, said the defendants decided to extend loans “based on extremely unreasonable calculations” and neglected their duties to pay full attention in extending loans.

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