BLBI Task Force Confiscates Obligor Santoso Sumali's Assurance

JAKARTA - The Bank Indonesia Liquidity Assistance Task Force (BLBI) through the State Receivable Affairs Committee (PUPN) confiscated the security items of the obligor Santoso Sumali.

The confiscation was carried out, considering that Santoso Sumali has not yet completed all his obligations as an obligor of Bank Metropolitan Raya (BBKU) of Rp77.51 billion and as an obligor for the Settlement of Shareholders' Obligations (PKPS) of Bank Bahari BBKU amounting to Rp447.06 billion, including administrative costs for managing state receivables of 10 percent.

Head of the BLBI Task Force Rionald Silaban revealed that the confiscated collateral was a land area of 100,000 m2 in Huu Village, Dompu Regency, West Nusa Tenggara (NTB) as stated in Building Use Rights Certificate (SHGB) Number 2 on behalf of PT Atlantic Graha Buana.

The land parcel is collateral as stated in the Decree of the Completion Agreement on the Obligation of Shareholders and Recognition of BBKU PT Bank Metropolitan Raya Number 20 and PT Bank Bahari Number 21 on October 12, 2000, between Santoso Sumali and the National Bank Restructuring Agency (BPPN).

Nevertheless, Rionald said that the confiscated collateral is estimated to be unable to cover the remaining debt of Santoso Sumali, so the BLBI Task Force will carry out efforts to trace other assets of obligors, families, and related parties in the context of restoring state collection rights for BLBI funds.

Furthermore, the collateral for the obligor Santoso Sumali that has been confiscated will continue with the process of being managed by PUPN through a mechanism as regulated in the applicable regulations. Then there will be open sales (auctions) or other settlements.