A Bureaucratic Snag
IBRA failed to collect trillions of rupiah owed by a financial services firm. Lawyers blame bureaucracy.
June 5, 2001
The Indonesian Bank Restructuring Agency, IBRA, has called for a review by the Supreme Court of its dispute with PT Putra Surya Perkasa after its cassation against a lower court decision was rejected, all because it failed to file the appeal within the prescribed period. It began when the Central Jakarta District Court ruled in favor of Putra in a decision issued March 14 rejecting a petition of bankruptcy by IBRA against the financial servic...