Sunday, September 6, 2009

Legal consequences Century

Are the pepole who decided to rescue publicly listed company (Plc) PT Bank Century Tbk, have legal consequences ???
The rescue of Bank Century was decided by KSSK in November 2008. Minister of Finance Sri Mulyani Indrawati was the Chairperson of KSSK, while then BI Governor Boediono served as a committee member. Other members were officials at the Deposit Insurance Institution (LPS).
After the committee agreed to rescue the bank, Bank Century was provided with a bailout fund of IDR2.655 trillion on November 23, 2008. After that, four consecutive capital injections followed, making up a total fund of IDR6.7 trillion.
In the meantime, Minister of Finance Sri Mulyani Indrawati on several occasions explained the rescue of Bank Century was decided based on a recommendation from BI saying the collapse of the bank might pose systemic risks. The rescue was made based on the LPS Law and Government Regulation in Lieu of Law (Perppu) on Financial System Safety Net as its legal umbrellas.
One big question, why BI denied instruction from Vice President Jusuf Kalla to arrest Robert Tantular ?
Last week the Vice President denied that his instruction to National Police Chief General Police Bambang Hendarso Danuri to arrest Robert Tantular, the former President Commissioner of Bank Century, was a form of government intervention.
Poor our country.....

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