IN the wake of the Bali tragedy, foreign investors are weighing the risks of investing in Indonesia. Indonesian courts may be contributing to these fears. On Thursday, 10 October 2002, the South Jakarta District Court annulled an arbitration ruling ordering state-owned corporation, PT Krakatau Steel (Krakatau) to pay US$1.45 million in damages to US-based International Piping Products (IPP). The dispute was over a contract for the supply of s