No-Progress Agreement

The Legal Assistance Team (TBH) recommends that IBRA overhauls its agreement with Sjamsul Nursalim. Another suggestion: have Sjamsul pay 25 percent of his debts in cash.

July 23, 2002

The floor on the Danamon building in Jakarta is still clean of Sjamsul Nursalim's footprints. All of last week, the tycoon, who has taken refuge in Singapore, did not set foot in the Indonesian Bank Restructuring Agency's (BPPN) headquarters. Last week, however, Head of IBRA Syafruddin Temenggung announced that Sjamsul was coming. The change in the schedule, said Syafruddin, was because IBRA's Oversight Committee (OC) hadn't concluded discussions

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