Hitting the Blacklist Snooze Button

Watchdog IBRA is likely to miss its deadline to name top defaulters. That's despite the addition of a whole new legal team to aid the investigation.

April 16, 2002

The nation's defaulting conglomerates can now heave another sigh of relief. The Indonesian Bank Restructuring Agency (IBRA)'s Legal Assistance Team is still overwhelmed with a mountain of debt settlement documentation, and the long-awaited blacklist of uncooperative debtors could be postponed another month.

Those on the blacklist—originally scheduled for announcement on Thursday, April 18—face litigation and possible imprisonment.

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