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Investment Banking


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Unclean Shell Company


A general term that may refer to either a dirty shell company or a messy shell company. Broadly speaking, unclean shells are shell companies which didn’t fare well over their business lives, or which have a bad track record. A shell’s current value is adversely affected by a shell’s bad past history or management, among other factors.

Unclean shell companies are also called non-bulletin board shell companies.


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