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APP Bid

Recovery Room?

Tuesday, December 9, 2003

The sale of APP's credit assets has triggered controversy. Will it give the Widjaja family a chance to recover assets?

arsip tempo : 173506373529.

. tempo : 173506373529.

LIKE a leather puppet show, the debt restructuring of Asia Pulp & Paper (APP) is entering the turbulence scene or goro-goro. The plan of the Indonesian Bank Restructuring Agency (IBRA) to sell the debts to Sinar Mas Group firms has triggered controversy.

A slight flashback shows that the giant paper company's master of restructuring agreement (MRA) was signed by APP and its creditors in October after protracted negotiations starting in 20

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