ADP suspects efforts to kill its operation

The management of PT Adiputra Dewasajaya (ADP), a contractor at a coal project owned by state-owned coal miner PT Tambang Batubara Bukit Asam, suspects there is an effort from Bank Universal to kill its operation following the freezing of its funds in the bank.

ADP president Eddy Hartono said up until now, Bank Universal did not explain to his company on why its money totaling Rp 14 billion ($1=Rp8,600) was withheld by the bank.

"Bank Universal did not answer my four questions I raised during the bank's shareholders meeting. It seems to me the bank wants to kill our operation," he said, adding that his company was a minority shareholder at the bank.

Eddy said that his party would continue to pursue the money through legal channel.

The disputes between Bank Universal and ADP started when ADP could not disburse the Rp 14 billion money, deposited by Bukit Asam for ADP as a payment for ADP's works at the coal project.

Bank Universal said that it withheld the money because ADP had entered into a restructuring program with the bank to restructure ADP's bad debt to the bank.

Because of the dispute, ADP then filed a civil law suit against the bank at the North Jakarta district court. In its suit, ADP demanded the bank to pay it Rp 72 billion in compensation. Besides, ADP also filed a criminal case against the management of Bank Universal through the National Police headquarters.

Eddy noted that the bank's unilateral action of withholding his company's operating fund had caused the company not able to continue working on its project and pay its employees.

Commenting on the lawsuits, Bank Universal president Stephen Z. Satyahadi said that he would let his lawyers from Adnad Buyung Nasution & Partners to handle it. He considered the lawsuits a common practice in settling dispute between a bank and its creditors. (*)