Bakrie fights bankruptcy suit

Bakrie fights bankruptcy suit

JAKARTA (JP): Listed PT Bakrie Finance Corporation is going to
ask the Supreme Court to annul its bankruptcy status, by filing a
Civil Review, a lawyer said.

"We will lodge the Civil Review suit on Friday or next Monday
with the Supreme Court," Jonson Hutajulu, a lawyer representing
Bakrie Finance, told The Jakarta Post on Thursday.

A Supreme Court Civil Review is the final level of the
Indonesian bankruptcy court after the appeal level, also at the
Supreme Court.

The Supreme Court, previously at the appeal level, declared
Bakrie Finance bankrupt in mid-May, overruling a previous verdict
by the Jakarta Commercial Court which initially saved the company
from bankruptcy.

The bankruptcy suit was filed by four Hong Kong-based
creditors in mid February at the Jakarta Commercial Court for
Bakrie Finance's alleged failure to repay US$13.5 million in
matured debts.(udi)