Mon, 11 Sep 2000

Meeting on insolvency law

JAKARTA (JP): Finance minister Prijadi Praptosuhardjo said on Saturday that an informal experts meeting to discuss the insolvency law design would be held in Jakarta on September 14.

Prijadi said the discussion would be held in cooperation with the Organization for Economic Cooperation Development (OECD) and the Asia Pacific Economic Cooperation (APEC).

"The September 2000 meeting will bring together about 40 policy makers, members of the judiciary, private sector practitioners, academics from Indonesia and a small group of outside experts. This meeting will serve as a preparation for the February 2001 Forum for Asian Insolvency Reform meeting," he said in a speech delivered at the 7th APEC finance ministers' meeting in Bandar Seri Begawan, Brunei.

Prijadi said that at an APEC meeting earlier this year, Indonesian officials sought a special meeting to discuss insolvency law reforms.

He said the subject on insolvency law design was chosen in part because two governmental teams were currently drafting an insolvency legislation for submission to the House of Representatives at the end of 2000 or early 2001. (rei)