{
    "success": true,
    "data": {
        "id": 1142994,
        "msgid": "workers-win-over-companys-assets-1447893297",
        "date": "2005-02-12 00:00:00",
        "title": "Workers win over company's assets",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Workers win over company's assets TANGERANG: Tangerang District Court ruled on Tuesday that 455 dismissed workers of Kingstone Indonesia had precedence over China Trust Bank, one of the bankrupt writing equipment manufacturer's creditors, as regards claims to the company's assets.",
        "content": "<p>Workers win over company's assets<\/p>\n<p>TANGERANG: Tangerang District Court ruled on Tuesday that 455<br>\ndismissed workers of Kingstone Indonesia had precedence over<br>\nChina Trust Bank, one of the bankrupt writing equipment<br>\nmanufacturer's creditors, as regards claims to the company's<br>\nassets.<\/p>\n<p>In August 2004, the court had allowed the workers to auction<br>\noff the assets, valued at Rp 7.8 billion (US$876,404), to fund<br>\ntheir severance pay after finding that the firm's owner, Whu Ming<br>\nChi, had fled home to Taiwan.<\/p>\n<p>After seeing an advertisement announcing the auction in a<br>\nnewspaper, lawyers for China Trust Bank, which is owed Rp 18.45<br>\nbillion by the company, objected to the auction, claiming that<br>\nthe disputed assets had been pledged to the bank as collateral<br>\nfor loans.<\/p>\n<p>However, presiding judge Gatot Supramono rejected the bank's<br>\narguments, saying that Whu Ming Chi was the only party who could<br>\nclaim the assets or dispute their ownership.--JP<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/workers-win-over-companys-assets-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}