After midnight, the Aetna Building in the Sudirman area, Jakarta, is usually quiet. But in a room on the 24th floor of the Indonesian Bank Restructuring Agency (IBRA) offices, the lights were on all night. A meeting that started last Wednesday afternoon did not end until the next day at dawn, at around 3:30am.

The discussion was over a tough and complex issue: restructuring the debts incurred by Asia Pulp & Paper (APP) that amount to U