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Jun

04

Distressed Funds Make Japanese Saviour of Indonesian Bank Pay Up

By Tony Seruga

Two distressed-debt investors based in Mauritius won a local ruling to recover defaulted payments by Indonesia’s PT Bank Mutiara from its Japanese rescuer.

Tokyo-based financial services company J-Trust Co. was ordered to pay $112.5 million of legacy debts and costs to First Global Funds Ltd. and Weston International Asset Recovery Co., according to an e-mailed statement from Weston on Thursday. J-Trust, which specializes in buying ailing firms, acquired Bank Mutiara last year for 4.45 trillion rupiah ($335 million)…

Distressed Funds Make Japanese Saviour of Indonesian Bank Pay Up

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