In 2002, when Lebanon's Central Bank (BDL) took control of BLC which had been badly managed and was close to bankruptcy, the prospects for a turnaround were widely thought to be grim.
The prospects for a turnaround were widely thought to be grim. This was in 2002. Lebanon's Central Bank (BDL) took control of BLC. This control of BLC had been badly managed. Lebanon's Central Bank (BDL) was close to bankruptcy.