IBRA's strange policy<\/p>\n
Our case actually started one year ago, when Bank Pelita was
\nclosed by the government, and, following the bank's closure, the
\nIndonesian Bank Restructuring Agency (IBRA) announcing taking
\nover all the bank's assets and obligations, including deposits,
\nbank accounts and debts.<\/p>\n
The story began when IBRA summoned us on July 16, 1999,
\nrequesting confirmation of our debt amount as reported in the
\nBisnis Indonesia daily, June 14, 1999, and to sign a Letter of
\nCommitment (the committed debt). We went to the IBRA office on
\nJuly 20 to discuss the subject and both parties agreed that we
\nstill had a gap, a big gap, because we stated that our debt was
\nonly US$1.4 million, while IBRA claimed that our debt was Rp 53
\nbillion, about $8.5 million. After a long argument over the
\ndifference both parties agreed to submit more evidence as well as
\nbackup to support each statement. We even showed IBRA minutes of
\nmeeting with the old IBRA team, and followed up with an agreement
\nand transferred the agreed interest payment as stipulated in the
\nagreement.<\/p>\n
The next day, as agreed, SA sent copies of backup documents to
\nconfirm a figure of the debt which comprised an offering letter
\nand 1997 financial report. At the same time, we again requested
\nclarification from IBRA of their claims before further steps
\ncould be taken.<\/p>\n
Unfortunately, our request for clarification was not granted
\nby the new team, lead by Mr. Rafy Sugiri, together with Ms.
\nYanthi and Ms. Sinaga from the legal section.<\/p>\n
Finally, we got a letter dated July 30, 1999, confirming their
\nprevious statement demanding SA submit the signed Letter of
\nCommitment to pay our debt as stated in the media.<\/p>\n
We prepared documents related to our loan agreement with the
\nagency. Moreover, we had also negotiated with IBRA from April
\n1998 until March 1999, when, literally, the new IBRA team came in
\nwith a new approach, and it seemed that the new team ignored the
\nprevious agreement.<\/p>\n
Our question is: What will happen if the current IBRA team is
\ndismissed and replaced by another IBRA? How do we differentiate
\none from the other? Will this present commitment be carried
\nforward, or will it be the same as the previous one, just a piece
\nof junk without legal meaning?<\/p>\n
We appreciate any comment from any concerned party dealing
\nwith IBRA.<\/p>\n
BK HADISOEBROTO<\/p>\n
Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/ibras-strange-policy-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }