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Sinar Mas Assets: Think Posse Process?

Tuesday, May 21, 2002

The Sinar Mas Group could be prosecuted so that it does not ignore its obligations to foreign creditors. Will IBRA have to compete against them?

arsip tempo : 173518796973.

. tempo : 173518796973.

WHAT was before only a growing fear has now become reality. The Indonesian Bank Restructuring Agency (IBRA) could end up confronting foreign creditors in its efforts to seize assets belonging to Asia Pulp & Paper (APP), a subsidiary of the Sinar Mas Group. IBRA is no longer prepared to sit back quietly and will certainly do all it can, to keep as tight a grasp as possible on the sureties that it holds of the group's assets. At the same ti

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