Hanil Bakrie sues IBRA<\/p>\n
JAKARTA (JP): Finance company PT Hanil Bakrie Finance (HBF)
\nfiled suit on Wednesday against the Indonesian Bank Restructuring
\nAgency (IBRA) for the latter's alleged failure to pay US$4.5 in a
\nguaranteed claim.<\/p>\n
Faisal Tadjuddin from Taira Faisal & Panggabean law firm said
\nthat his client tried in vain to recoup its claim from IBRA since
\nlast year. The suit was filed in the South Jakarta District
\nCourt.<\/p>\n
\"My client finally filed this lawsuit to defend its rights
\nwhich have been abused by IBRA,\" he said.<\/p>\n
He said HBF extended a $4.5 million loan to local finance
\ncompany PT Ongko Akita Finance with the now defunct Bank Umum
\nNasional (BUN) as the loan guarantor in October 1997. BUN is a
\nsister company of Ongko Akita.<\/p>\n
BUN was part of the government's mass liquidation of banks
\nlate last year under the bank restructuring program.<\/p>\n
HBF argued that under the government blanket guarantee
\nprogram, IBRA was obliged to pay the matured debt of commercial
\nbanks, including closed ones. (udi)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/hanil-bakrie-sues-ibra-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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