IFC Duped by Fictitious Creditors? - Law - magz.tempo.co

maaf email atau password anda salah

IFC Duped by Fictitious Creditors?

Tuesday, January 16, 2001

The International Finance Corporation, a subsidiary of the World Bank, is claiming that PT Panca Overseas Finance created fictitious creditors to escape a bankruptcy declaration and avoid full payment of its outstanding debts. Will the Jakarta Commercial Court heed IFC’s claims?

. tempo : 173511153618.

The creation of fictitious creditors has become a popular means of avoiding bankruptcy declarations. In September 2000, PT Davomas Abadi, a producer of chocolate foods, allegedly submitted a list of 60 fictitious creditors to the Central Jakarta District Court to escape a bankruptcy petition submitted by eight other creditors. Now, the Jakarta Commercial Court faces a similar scenario, this time involving the International Finance Corporation (

...

Subscribe to continue reading.
We craft news with stories.

For the benefits of subscribing to Digital Tempo, See More

The Best Choice

Rp 54.945/Month

Active for 12 Months, Rp 659.340

*You Save -Rp 102.000
*Guaranteed update of up to 52 Editions of Tempo Magazine

Subscribe

Rp 64.380/Month

Active Every Month Cancel Anytime

*Free for the first month if using a Credit Card

Subscribe

See Other Packages

Already a Subscribed?
To receive daily news by Email,

More Articles

The Halal Certification Odyssey

Tempo English Tuesday, January 16, 2001
The Halal Certification Odyssey

Tempo English Tuesday, January 16, 2001
The Halal Certification Odyssey

Tempo English Tuesday, January 16, 2001
The Halal Certification Odyssey

Tempo English Tuesday, January 16, 2001

More exclusive contents

December 23, 2024
December 16, 2024
December 9, 2024
December 2, 2024

Independent journalism needs public support. By subscribing to Tempo, you will contribute to our ongoing efforts to produce accurate, in-depth and reliable information. We believe that you and everyone else can make all the right decisions if you receive correct and complete information. For this reason, since its establishment on March 6, 1971, Tempo has been and will always be committed to hard-hitting investigative journalism. For the public and the Republic.