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OSAKA (Kyodo) Lopro Corp. filed for bankruptcy protection Monday under the civil rehabilitation law with the Tokyo District Court and was granted protection from creditors, the major nonbank lender said.

The company went under with liabilities of around ¥21.88 billion after its business worsened when it was forced to reimburse borrowers who had been charged exorbitant interest. The reimbursements were in line with a 2006 law change that clamped down on moneylenders.

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