Bank Bali's properties foreclosed

Bank Bali's properties foreclosed

JAKARTA (JP): The South Jakarta district court has ordered a
foreclosure on two properties owned by Bank Bali located on Jalan
Hayam Wuruk, West Jakarta, and in the Bintaro Jaya residential
area, southwest of here.

The foreclosure was issued by Presiding Judge Djalius Amin at
the request of Mrs. Gina Widjaya who has sued Bank Bali and its
vice president Tan Tjio Tong for damages relating to a litigation
case the defendants filed against the plaintiff and her husband,
Bambang Sutrisno, in the Singapore High Court.

J.M. Sutarman, a lawyer for Mrs. Widjaya, said in a statement
on Monday that Bank Bali's subsidiary, Hong Kong-registered Bali
International Finance Ltd., and eight other Indonesian and
foreign creditors had sued Bambang and her wife in the Singapore
High Court over a bad loan which Bambang personally guaranteed.

The creditors won an injunction from the Singapore court to
freeze the assets of Bambang and Mrs. Widjaya worldwide.
Consequently Mrs. Widjaya sued Bank Bali in Jakarta early this
month for damages incurred by the freezing of the assets.

She claimed that she had never given approval to her husband
to pledge the assets they, as a legally married couple, owned
jointly as securities to the loan.

She demanded that the guarantee and indemnity agreement
between Bambang and Bank Bali be declared void.

However, Hotman Paris Hutapea, a lawyer for Bank Bali and Tan
Tjio Tong, said on Monday her clients had never been summoned by
the South Jakarta court to a hearing on the civil lawsuit.
(rid/vin)