Astria Raya files suit

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)