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Verdicts

Below the Belt

Tuesday, November 20, 2001

The State Administrative High Court has annulled BI's decision to freeze Bank Ratu. Will the IBRA-restructured bank recommence its operations?

arsip tempo : 173519164617.

. tempo : 173519164617.
Endeavors to restructure Indonesia's banking sector have been dealt a harsh blow. Two weeks ago, the State Administrative High Court rendered void Bank Indonesia's decision to freeze Bank Ratu. The administrative appeal court verdict, which was delivered to the disputing parties last week, carries serious consequences, bearing in mind that the Indonesian Bank Restructuring Agency (IBRA) has already settled all of Bank Ratu's debt and public loan pay...

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