Bank litigators under fire<\/p>\n
JAKARTA (JP): More members of the House of Representatives and
\nbank analyst have joined the fray of criticisms against
\nIndonesian bank creditors, who seemingly distrust the country's
\ncommercial court and prefer settling business disputes at the
\ncourt in Singapore.<\/p>\n
Abu Hasan Sazili of the Golkar faction who is vice chairman of
\nCommission I (law and defense) lambasted at creditor plaintiffs
\nwho do business in the country but do not have any trust in its
\njudicial system.<\/p>\n
Another House member, Jhon Manafe of the Commission VIII
\n(finance) concurred, saying that creditors such as the Bank Bali
\ngroup should not a priori discard the country's commercial court
\nas unreliable.<\/p>\n
They were commenting to Antara on the civil law suit filed
\nrecently by Bali International Finance, a unit of Bank Bali in
\nJakarta, at the high court in Singapore, against PT Surya
\nSupratama Finance and Bambang Sutrisno, a former shareholder of
\nthe now defunct Bank Surya.<\/p>\n
Sutrisno guaranteed a syndicated loan to PT Surya Supratama
\nFinance in 1997 which was lead managed by Bali International. The
\nlitigation was triggered by Surya Supratama's failure to repay
\nthe loan on maturity.<\/p>\n
Jhon said this was the second law suit filed by the Bank Bali
\ngroup at the Singapore court against its Indonesian debtors.<\/p>\n
Bank analyst I Nyoman Moena agreed that Indonesian creditors
\nand debtors should bring up their disputes to the Jakarta
\ncommercial court but he also asked the judges running the court
\nto make self-introspection as to why many creditors prefer the
\njudicial system in Singapore.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bank-litigators-under-fire-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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