Sukamto files restructuring

Sukamto files restructuring

HONOLULU (Bloomberg): Sukamto Sia, 39, former chairman and controlling shareholder of the Bank of Honolulu, filed for reorganization under Chapter 11 on Nov. 6 in Honolulu, the Honolulu Advertiser reported on Sunday.

Sia listed debts of more than US$200 million -- including $25 million owed to Bank Bira of Indonesia -- and assets of between $10 million and $50 million.

Sia has been charged with writing bad checks to Las Vegas casinos and listed debts of $6 million to the Rio Hotel; $5 million to Caesar's Palace, a unit of Starwood Hotels & Resorts; $4 million to the Mirage Hotel and $3 million to the Las Vegas Hilton, the paper said.

Last month, banks including Credit Suisse and Societe Generale Sia sued Sia, who is also the former chairman of Singapore-based Transmarco Ltd., over $63.4 million in unpaid loans.