Let Battle Commence
Bank Rakyat Indonesia (BRI) and the BRI Pension Fund Foundation are suing businessman Joko S. Tjandra because he failed to construct the BRI III office building. Joko’s attorney claims there are reasons why the businessman—now a fugitive from justice—failed to do so.
June 30, 2010
Broken Promises
FIFTEEN rounds of negotiations and repeated letters of reprimand has not persuaded PT Mulia Persada Pacific to construct the Bank Rakyat Indonesia (BRI) III building or other facilities at the BRI II building. As a consequence, BRI and the BRI Pension Fund Foundation have suffered alleged financial losses of as much as Rp2.1 trillion. Now they have launched a legal challenge by demanding a seizure of collateral over the managemen...