Choose Compromise or Losses?

THE saga of the debt restructuring of Asia Pulp & Paper (APP) is very much like the storyline of a TV drama series. Following the establishment of a steering committee by the Indonesia Bank Restructuring Agency (IBRA) together with several of APPs creditors last year, recently a new debt-restructuring framework has been put forward. But with so many creditors and several differences as regards legal claims, the speed at which APPs debt restructur

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