Hartono in dispute with Tomy<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
Entertainment businessman Hartono Setyawan filed an appeal with
\nthe Supreme Court on Monday in his dispute with businessman Tomy
\nWinata over the Planet Bali entertainment center.<\/p>\n
Hartono won his legal battle against Tomy at the Central
\nJakarta District Court in September 2001, but lost the appeal
\nfiled by Tomy with the Jakarta High Court in August 2002.<\/p>\n
Hartono's lawyer Azas Tigor Nainggolan said the dispute
\nbetween the two businessmen began when Hartono experienced
\nfinancial difficulty in 1996 because his creditor, PT Bank
\nTamara, could not continue funding his Planet Bali one-stop
\nentertainment center project.<\/p>\n
Tomy, a commissioner at PT Bank Artha Graha, which acquired PT
\nBank Tamara, then agreed to act as Hartono's creditor so
\nconstruction on Planet Bali could continue.<\/p>\n
In exchange, Hartono agreed to sign over several assets as
\ncollateral for his Rp 8.5 million (US$1 million) in loans from
\nBank Artha Graha. Among the assets were properties on Jl. WR
\nSupratman in Surabaya, on Jl. Prapanca Raya in South Jakarta, and
\non Batam island in Riau province.<\/p>\n
An article of the loan document signed by Hartono states that
\nBank Artha Graha, as the creditor, has the right to terminate the
\nagreement and demand Hartono to repay the loan immediately if the
\nlicense permits for the project are revoked.<\/p>\n
Tigor said Tomy had taken advantage of Hartono's compromised
\nposition to force him to sign an unfair agreement. \"It can be
\ncategorized as abusing the situation, which is illegal in any
\nagreement.\"<\/p>\n
After completion of construction, Planet Bali was officially
\nopened by then Badung regent I Gusti Alit Putra on Aug. 8, 1997.
\nTwo days later, the Badung regency administration revoked the
\npermits required for the project.<\/p>\n
According to the appeal filed by Hartono, among the reasons
\ncited by the Badung regency administration for revoking the
\nproject's permits were that the permits for the project were not
\nallowed to be in the name of Hartono, that Planet Bali could not
\nbe used as the name of the project and that the purple paint used
\nfor the building was unacceptable.<\/p>\n
The administration said the name Planet Bali and the purple
\npaint of the building had sexual connotations. Tigor called this
\nreasoning ridiculous.<\/p>\n
After the project's permits were revoked, Bank Artha Graha
\ndemanded Hartono hand over the assets he had pledged as
\ncollateral for his loan and seized Planet Bali.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/hartono-in-dispute-with-tomy-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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