The court?s verdict against Total E&P will be issued next week
Thursday, March 3 2005 - 02:00 AM WIB
The Central Jakarta Commercial Court is expected to issue the verdict over the bankruptcy request filed by PT Sanggar Kaltim Jaya (SKJ) and PT Istana Karang Laut (IKL) against French oil company Total E&P next week, Investor Daily reported on Thursday.
The French oil company?s defense lawyer Mulya Lubis said in Jakarta on Wednesday that he was optimistic that the court would issue a decision in favor of his client. ?There were not enough evidences to support the two companies? claim,? he said after attending the court?s fifth session on the case.
SKJ and IKL, suppliers of the oil company, brought Total E&P to the commercial court for not paying its matured debts worth about US$ 1.7 million, and requested the court to declare the oil company bankrupt.
Unlike Todung, the defense lawyers of SKJ and IKJ, said that their clients would win the legal fight against Total. ?But if the court issues a decision in favor of Total, we will appeal,? Marla, the lawyer representing SKJ and IKJ.
Total through its defense lawyer had asked SKJ and IKJ to settle their dispute through the national arbitrary board (BANI), but the request was turned down. (*)