JAKARTA (Yosefardi) – Futures trader PT Danpac Futures sues PT Bakrie & Brother Tbk (BNBR) to the Central Jakarta Commercial Court as BNBR failed to settle Rp56.97 billion debt.
Danpac Futures has taken over receivables of PT Ciptadana Sekuritas and BNBR agreed the debt payment to be endorsed in December 4, 2013.
Danpac had demanded BNBR to settle debt payment in January 21, 2014 but BNBR failed. Then Danpac set again the deadline payment at January 27, 2014. BNBR also missed the deadline.
BNBR reportedly opted to reject the debt payment as Danpac and Ciptadana Capital have smuggled the law by creating such an ilegal transfer of receivables.