Justice Outbid

Company assets worth Rp37.5 billion used as credit security, were auctioned for a mere Rp1.6 billion. Reeking of foul play, police simply dropped their investigation.

March 6, 2001

In theory, law is based on the principles of justice and certainty. However, neither of these principles was afforded to Hidayat Sadikin, President Director of PT Way Hitam, a wood processing company based in Palembang. Two Hidayat-owned factories and a three-story residence-cum-shop were auctioned to settle credit owed by Hidayat to the Indonesian Developmental Bank (Bapindo). Unfortunately for Hidayat, the three assets jointly valued at Rp37.5

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