Curator Asks Court to Suspend Palur Raya Auction

Law

Tuesday, 14 June 2011 17:18

Theindonesiatoday.com - Curator Imran Nating has asked Karanganyar District Court in Solo, Central Java to reject Bank Rakyat Indonesia's application for auctioning the assets of PT Palur Raya, which has been declared bankrupt.

Bisnis Indonesia quoted Imran asking the court to ignore the auction application filed by BRI if the auction to be held after June 6 because by that date curator has the authority to auction off the assets.

"BRI should hand over the asset, since the period for BRI to hold the auction from April 6 to June 6 has expired," Imran said citing paragraph 1 and 2 Article 59 of Bankruptcy Law.

Imran said he is ready to sue BRI if the bank refused to handover Palur Raya's assets. "If we do not organize the auction, as curator, we can be sued by other creditor for letting BRI violating the law."

Lawyer of BRI, Swandy Halim, however, is of the view that the curator misinterpreted article 59 of Bankruptcy Law. He said that his client had filed an application and calculated Palur Raya’s asset through appraisal. Therefore, according to Swandy, BRI will auction the asset instead of giving them to curator. “Moreover, through curator, we have to pay 12,5%,” he said. Swandy also said that he is ready if the curator plans to file a lawsuit against BRI

The case started with Semarang Commercial Court ruling which declared PT Palur Raya bankrupt on February 10, 2010. Bankruptcy application was filed by PT Gresik Cipta Sejahtera and Hendro Istianto, liquidator team of PT Karya Prima Usaha. But the auction was canceled after one of the Palur Raya creditors, Karya Prima, filed a lawsuit. After the auction canceled,an BRI filed auction application to the Karanganyar District Court. (indra@theindonesiatoday.com)

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