Astria Raya files suit

JAKARTA (JP): Executors of liquidated Astria Raya Bank have filed a bankruptcy claim against finance company PT Asia Kapitalindo Finance for allegedly failing to pay Rp 11 billion (US$1.4 million) in promissory notes.

Astria Raya's lawyer Handra Deddy Hasan from Handra, Darwin, Rahmad & Partners said last week that the promissory note matured in April last year.

"My client tried to collect the matured debt from the defendant on several occasions, but never received either results nor good reason for their not paying," he said.

Astria Raya Bank was one of 11 banks closed by the government in November 1997.

The bank is in the process of liquidation under the auspices of Bank Indonesia.

Separately, the Supreme Court has upheld on appeal the Jakarta Commercial Court's rejection of a Rp 2 billion bankruptcy claim filed by construction company PT Waskita Karya against PT Mustika Princess Hotel.

It ruled that the case should have been submitted to the State Civil Court instead of the commercial court. (udi)