IBRA sues two Dharmala units

IBRA sues two Dharmala units

JAKARTA (AFX-ASIA): The Indonesian Bank Restructuring Agency (IBRA) said it has filed bankruptcy suits against two Dharmala Group subsidiaries, PT Dharmala Agrindo and PT Muara Alas Prima, before the Jakarta Commercial Court, IBRA's lawyer Berto Edward said.

Edward said IBRA filed the lawsuit against Agrindo's for its failure to repay debts of Rp 174.1 billion. The debts were originally owed to state-owned Bank Exim, prior to its merger with Bank Mandiri.

He said Agrindo also owes debts to other banks including BNP Lippo Bank and Rabobank Indonesia branch.

IBRA's lawyer in the bankruptcy case against Muara Alas Prima, Benny Azani Latief, said the company owes matured debts to three banks worth about Rp 17.7 billion, with Bank Rakyat Indonesia owed Rp 5.9 billion and Bank Exim -- now joined with Bank Mandiri -- Rp 11.8 billion.