HONG KONG

Colony to Try to Sell BCCI Assets: Breaking from a recent policy of rescuing troubled banks, the government said it will seek to liquidate the local subsidiary of scandal-plagued Bank of Credit & Commerce International. Regulatory and investigative agencies in many countries have been investigating irregularities and allegations of money laundering at BCCI. The government has traditionally indemnified depositors of troubled banks by either providing guarantees or selling failing institutions to wealthy investors. It has rescued seven banks in the past 10 years, for example. However, government authorities said they were unable to find a buyer for the BCCI operation based in Hong Kong.