Anggada's Hartadi wins appeal<\/p>\n
SINGAPORE (AP): A U.S. corporation has lost a battle in a
\nSingapore lawsuit against an Indonesian property developer, with
\nthe judge ruling that the case should be heard in New York or
\nJakarta, a news report said Wednesday.<\/p>\n
The city-state's Court of Appeal dismissed an appeal by
\nAmerican firm Lehman Brothers Special Financing in its case
\nagainst Indonesian property developer Hartadi Angkosubroto, The
\nStraits Times newspaper said.<\/p>\n
Lehman Brothers filed the appeal against an earlier Singapore
\nHigh Court decision that suspended Lehman's proceedings against
\nHartadi Angkosubroto, also known as Ang Tiong Hiap, a permanent
\nresident of Singapore.<\/p>\n
Lehman had claimed US$14.2 million in money owed by Hartadi,
\nincluding interest, from a derivatives contract, and applied to
\nseize his apartment in Singapore until the case was decided.<\/p>\n
The U.S. firm claimed the money under Hartadi's personal
\nguarantee for PT Anggada Realty on a derivatives contract. The
\nIndonesian is Anggada's president director.<\/p>\n
Hartadi had earlier taken contract-law legal action against
\nLehman Brothers in Jakarta, winning the case and invalidating his
\npersonal guarantee.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/anggadas-hartadi-wins-appeal-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}