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LTCB later renamed itself Shinsei Bank and relisted its stock on the Tokyo Stock Exchange in 2004.
The minutes of meetings held at the Financial Reconstruction Commission (FRC), the precursor of the FSA, between January and February 1999 blacked out parts related to the financial adviser contract signed between Goldman Sachs and LTCB.
The LTCB and NCB, both under temporary state control, followed the decision by the IBJ announced earlier in the day.
The money will be injected into LTCB's capital to cover bad-loan losses to be incurred by the bank from its outstanding loan portfolio after its takeover, possibly by U.S.
Shinsei said the latest legal action is based on an agreement signed in February 2000 by LTCB, DIC and New LTCB Partners CV.
According to the bankruptcy administrators, LTCB sent employees to EIE International between December 1990 and July 1993 to put the company under its control.
The LDP initially hoped to inject public funds into LTCB under the existing bank recapitalization law to facilitate merger talks between LTCB and Sumitomo Trust and Banking Co.
The LTCB sent its employees to EIE International between December 1990 and July 1993 to put the company under its control.
DPJ leader Naoto Kan told Takashi Imai, chairman of the Federation of Economic Organizations (Keidanren), that it is necessary to discuss the LTCB issue in the context of a long-term view of overall financial revitalization, Keidanren officials said.
The RCC, which took over the loans from LTCB, the predecessor of Shinsei Bank, sued Onogi and eight other former LTCB executives, demanding they pay 4.9 billion yen in damages.
In line with the move, LTCB is expected to be turned into a ''bridge'' bank that would take over assets and liabilities of ailing banks and extend short-term loans to their borrowers or be merged with another bank.
"The rumors were completely unfounded," LTCB Vice President Masami Suda told a news conference, referring to talk circulating the same day that the bank faces problems over a huge redemption of its bonds in the near future.
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