New bankruptcy law is criticized as inadequate; creditors run up against barriers as basic as the definition of a debt
Article Abstract:
The reformed bankruptcy law of Indonesia, an important factor in its struggle to attract new investment and revive its ailing economy, is being criticized because it is not effective in setting straight the bad debts of many financially troubled companies. A new bankruptcy law was made effective in Sep 1998. However, several problems have arisen such as judges with insufficient experience and pay, and even essential issues such as the definition of debt.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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Indonesians seek outside help; banks' willingness to hire foreigners may be a good sign for investors
Article Abstract:
A transformation is taking place among ailing Indonesian banks which are hiring foreigners to conduct a possible turnaround. The banks include Bank Danamon, Lippo Bank and Bank Bali. The use of foreign talent was accompanied by powerful financial incentives which may be good signs for investors who hope that the introduction of innovative ideas would lead to more international practices and better corporate governance.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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New bankruptcy law is criticized as inadequate
Article Abstract:
Indonesia's efforts at revising its bankruptcy law are being criticized as inadequate. The revision of the country's bankruptcy law is one of the requirements for the $43 billion bailout package arranged by the International Monetary Fund for the nation's economy. A look at the implementation of the revised law, which began on Sep 1998, reveals its shortcomings in clearing up Indonesia's large number of unpaid debts.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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