IBRAcadabra— Your Debts Are Much Fatter!

PT Frans Putratex is suing IBRA. The cause: a debt, initially Rp49 billion has now been determined to be Rp489 billion.

July 31, 2001

Any business that owes a bank money should apparently calculate the total it owes very carefully. If not, it's quite likely it could be swept away by a disaster such as that which struck PT Frans Putratex. The Rp49-billion debt of this producer of nylon and polyester thread, by the time it was called in, had become almost 10 times that, ie Rp489 billion. Subsequently, through this week's court action against the Indonesian Bank Restructuring...

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