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Bankruptcy

Blazing Bankruptcy

Tuesday, March 20, 2001

A prominent New Order businessman has been declared bankrupt. Fadel Muhammad has responded by going to the police.

. tempo : 173518682514.

A Jakarta Commercial Court judgment against Fadel Muhammad once again shows the court's new-found courage in handing down bankruptcy declarations. Chaired by Hasan Basri, the council of judges two weeks ago declared Fadel unable to settle Rp33.5 billion in debt obligations to the International Finance and Investment Company (IFI) Bank. According to Judge Hasan, "Fadel's request for the postponement of his debt repayment was rejected by his creditors

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Tempo English Tuesday, March 20, 2001
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