The Government ramped up its efforts to demand payment on obligations of the infamous Bank Indonesia liquidity support (BLBI) to the obligors in 2021 with its first target being the Texmaco group. The Government initially staged the seizure of nearly 600 assets belonging to the conglomerate which forced Marimutu Sinivasan, who has been absent from the public for more than two decades, to appear and defend himself. Sinivasan filed a lawsuit, however, the court decided that the lawsuit cannot be accepted towards the end of last year. Recently, we learned that Sinivasan’s attempt to appeal failed. The Government is quickly trying to solve all the problems that are left behind.To subscribe please click here
