Sukamto files restructuring

Mon, 09 Nov 1998, 00:00 WIB | Source: BLOOMBERG

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.

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