PT Bank Mandiri Tbk failed to get investor for the auction of Benua Indah Group assets due to the prevailing company's legal dispute. Meanwhile, the auction of PT Dewata Royal International assets has got the preferred bidder upon the third auction.
Despite the absence of investors with offering, there are some investors aiming the assets of Benua Indah such as PT Sampoerna Agro Tbk, Makin Group, and Asian Agri.
The two auctions failed to get preferred bidder due to the doubtful participants on the lingering legal status of Benua Indah assets. In fact, Benua Indah has got fixed legal status based on the verdict given by the Supreme Court (MA).
Early June 2010, Benua Indah filed legal suit against the execution and auction of the palm oil plantation.
In fact by mid april, the Pontianak Administrative District Court (PTUN) refuted the company lawsuit. The series of lawsuits were carried out despite the final verdict at MA level.
Plantation division of Benua Indah Group has IDR480.7 billion debt plus the state debt administration of 10 percent of the total debts.
The credit settlements have run long before and the handling has given to the State Auction and Treasury Office (KPKNL) since April 12, 2005.
At the South Jakarta district court, Bank Mandiri won over the case based on the verdict no. 262/Pdt.G/2008/ PN. Jkt Sel August 28, 2008.
Based on the verdict here, Benua Indah appealed to higher court Jakarta higher court and won over the case based on the decree No. 675/PDT/ 2008/PT DKI March 13, 2009.
Bank Mandiri with KPKNL Jakarta 1 then filed an appeal to Supreme Court until it sided with Bank Mandiri and KPKNL victory.
Meanwhile, Bank Mandiri finally could execute the auction of Dewata Royal asset following the series of failed offering to investor. The hotel asset divestment cost IDR182.2 billion. Thomas declined to unveil the investor winning the acution of Dewata Royal assets, instead he just named the initial of the winning bidder.
The auction output will be used to pay Dewata Royal debts . The company has strong commitment to improve the non performing loan.
Previously he stated the company target Dewata Royal asset acution targeted to tap IDR160 billion. It means it was IDR22.2 billion higher than the target.
The two auctions failed to get preferred bidder due to the doubtful participants on the lingering legal status of Benua Indah assets. In fact, Benua Indah has got fixed legal status based on the verdict given by the Supreme Court (MA).
Early June 2010, Benua Indah filed legal suit against the execution and auction of the palm oil plantation.
In fact by mid april, the Pontianak Administrative District Court (PTUN) refuted the company lawsuit. The series of lawsuits were carried out despite the final verdict at MA level.
Plantation division of Benua Indah Group has IDR480.7 billion debt plus the state debt administration of 10 percent of the total debts.
The credit settlements have run long before and the handling has given to the State Auction and Treasury Office (KPKNL) since April 12, 2005.
At the South Jakarta district court, Bank Mandiri won over the case based on the verdict no. 262/Pdt.G/2008/ PN. Jkt Sel August 28, 2008.
Based on the verdict here, Benua Indah appealed to higher court Jakarta higher court and won over the case based on the decree No. 675/PDT/ 2008/PT DKI March 13, 2009.
Bank Mandiri with KPKNL Jakarta 1 then filed an appeal to Supreme Court until it sided with Bank Mandiri and KPKNL victory.
Meanwhile, Bank Mandiri finally could execute the auction of Dewata Royal asset following the series of failed offering to investor. The hotel asset divestment cost IDR182.2 billion. Thomas declined to unveil the investor winning the acution of Dewata Royal assets, instead he just named the initial of the winning bidder.
The auction output will be used to pay Dewata Royal debts . The company has strong commitment to improve the non performing loan.
Previously he stated the company target Dewata Royal asset acution targeted to tap IDR160 billion. It means it was IDR22.2 billion higher than the target.
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