Prudential |
Indonesia
faces new bankruptcy petition over unpaid claim - report
A month after surviving an
earlier bankruptcy ruling, Plc's local unit PT Life
Assurance is now facing another bankruptcy case at the Central
Jakarta Commercial Court filed by the family of a
deceased policy holder, the Kompas daily reported. |
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It
said the bankruptcy petition was filed on July 6, with a person named Ng Sok
Hia and her sons Dick Sigmund and Davin Sigmund charging for
allegedly failing to fully pay the life insurance claim for the death of Sok
Hia's husband, Ng Sek Ngie. |
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's
alleged obligation to the family amounts to 16 mln rupiah, the report said. |
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"We
don't want our clients to wait too long to get what is their right,"
Kompas quoted the family's lawyer Oscar Sagita as saying. |
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director Eddy KA Berutu said the company has not yet been informed about the
charges and declined to comment, the newspaper said. |
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Earlier
this year, Malaysian consultant Lee Boon Siong filed a bankruptcy petition
against over an alleged 400,000 usd debt. |
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His
case led the Central Jakarta Commercial Court
to declare bankrupt in April. later got the ruling
overturned through an appeal. |
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was the second foreign insurance firm to have been declared bankrupt in Indonesia,
despite sound financial position. |
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Earlier,
Canada's
Manulife Financial Corp unit PT Asuransi Jiwa Manulife also came out of a
bankruptcy ruling through an appeal. |
Indonesia
is now amending the bankruptcy law, allowing only the Finance Minister file a
bankruptcy petition against insurance companies.
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