Court seizes assets

Court seizes assets

JAMBI: The Jambi District Court, acting at the request of
PT Sari Hijau Mutiara (SHM), a forestry concession holder, has
seized the assets of PT Heeching Timber Industry Indonesia
(HTII), co-concession holder of PT SHM, to avoid further conflict
between the two companies.

Chief of the Jambi District Court Ramelan said on Saturday
that PT SHM filed the lawsuit against PT HTII for violating the
concession agreement

"The agreement rules that PT HTII agrees to buy 30 percent in
PT SHM if the Ministry of Forestry approves extension of the
concession," Ramelan was quoted by Antara as saying. (imn)