Fadel Verging on Bankruptcy

Third Time Lucky?

Monday, December 4, 2000

Bank IFI has re-filed a bankruptcy suit against entrepreneur Fadel Muhammad for Rp33.5 billion in debts. This time at the Jakarta Commercial Court.

. tempo : 178041371052.

The sword of bankruptcy has no mercy. Businessman Fadel Muhammad, 48 years of age, and formerly involved in the Bukaka business group, is currently under threat of being declared bankrupt for debts amounting to Rp10 billion. Bank IFI—the Indonesian Finance and Investment Company—is once again filing a bankruptcy suit against Fadel. Last Monday November 27, the lawsuit was taken to trial, this time at the Jakarta Commercial Court. ...

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