{
    "success": true,
    "data": {
        "id": 1417799,
        "msgid": "vff-sues-state-company-1447893297",
        "date": "1999-06-03 00:00:00",
        "title": "VFF sues state company",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "VFF sues state company JAKARTA (JP): Cayman Islands-based The Vietnam Frontier Fund (VFF) has filed a bankruptcy claim against state-owned ship builder PT Dok & Perkapalan Kodja Bahari for allegedly failing to pay US$1 million in promissory notes, the plaintiff's lawyer confirmed on Wednesday. Lucas from Lucas and Partners law firm said the action was taken because Kodja Bahari defaulted on due payment on Dec. 1, 1997.",
        "content": "<p>VFF sues state company<\/p>\n<p>JAKARTA (JP): Cayman Islands-based The Vietnam Frontier Fund<br>\n(VFF) has filed a bankruptcy claim against state-owned ship<br>\nbuilder PT Dok &amp; Perkapalan Kodja Bahari for allegedly failing to<br>\npay US$1 million in promissory notes, the plaintiff&apos;s lawyer<br>\nconfirmed on Wednesday.<\/p>\n<p>Lucas from Lucas and Partners law firm said the action was<br>\ntaken because Kodja Bahari defaulted on due payment on Dec. 1,<br>\n1997.<\/p>\n<p>&quot;It would be proper for the company to file for bankruptcy now<br>\nto prevent the unserviced debts from growing larger without<br>\nlimit,&quot; Lucas said.<\/p>\n<p>Lucas said the shipbuilder failed to pay any money to his<br>\nclient since the debt maturity in 1997. He added his client was<br>\nincreasingly concerned the debt was a write-off.<\/p>\n<p>&quot;So, liquidating the company&apos;s assets through the bankruptcy<br>\nprocess could be a solution,&quot; he added.<\/p>\n<p>The first hearing of the case is scheduled for June 9. (udi)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/vff-sues-state-company-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}