Foreign bank sues Ometraco

Foreign bank sues Ometraco

JAKARTA (JP): The Singapore branch of the Royal Bank of Canada
(Asia) Ltd. has filed a bankruptcy petition against PT Ometraco
Corporation for allegedly failing to pay US$5 million in medium-
term notes, according to the plaintiff's lawyer.

J. Cemby Hutapea of Kemalsjah, Cemby & Avriline law firm said
on Tuesday that Ometraco refused to pay his clients' receivables.

"Ometraco has never given any satisfactory response to my
client during my client's efforts to collect the receivables," he
said.

He said that the case's first hearing would be held next
Monday.

Ometraco is a holding company operating in poultry,
pharmaceutical, infrastructure development and financial
services. (udi)