Bali Bank takeover a blow for Indonesia

Yesterday''s State Administrative Court decision over IBRA''s takeover of Bank Bali is a huge blow for Indonesia

Yesterday's announcement by the State Administrative Court of Jakarta that the government's takeover of Bank Bali was illegal is a huge blow to Indonesia's recuperation. The court's action questions the legitimacy of the Indonesian Bank Restructuring Agency IBRA as well as that of Bank Indonesia - the central bank - which approved IBRA's takeover of Bank Bali. The court's decision was based on perceived errors in the way IBRA assumed control of the bank, not on any doubts as...

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