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Damages

Turnaround

Tuesday, July 24, 2001

BII has been penalized by a court and must pay Rp482 billion in damages. Why? For filing a bankruptcy petition in the first place, of course.

. tempo : 173518708935.

Creditors filing a petition for bankruptcy against a debtor should think twice before taking such a course as it may cost them more than they'd bargained for. That's exactly what happened to Bank Internasional Indonesia (BII), a bank currently under the control of the Indonesian Bank Restructuring Agency (IBRA) and reportedly targeted for acquisition by Bank Mandiri. BII sued Bentala Coal Mining at the Central Jakarta District Court for defaulti

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