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Between Jakarta and New York

Monday, October 9, 2000

The International Finance Corporation (IFC) has filed a request for a declaration of bankruptcy against PT Panca Overseas Finance (POF) at the Commercial Court in Jakarta. What are the consequences of this for POF?

arsip tempo : 173168432831.

. tempo : 173168432831.

The International Finance Corporation, a subsidiary of the World Bank, is having its patience tested. The corporation hopes to acquire control of PT Panca Overseas Finance Tbk’s assets. Toward achieving this, IFC has filed a request at the Jakarta Commercial Court requesting that POF, a subsidiary of the Panin Group, be declared bankrupt. However, this request has met with strong opposition from POF. POF’s attorney, Lucas, submitt

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