PT. Adidaya Mandiri Utama has received credit facility from PT. Bank Permata, Tbk and based on fact that PT. Adidaya Mandiri utama incapable to settle its obligation amounting to Rp. 8.406.933.274,82 (eight billion and four hundred six million and nine hundred thirty three thousand and two hundred seventy four point eighty two cent rupiah) on time and in the sum as agreed. PT. Adidaya Mandiri Utama had given gurantees on the Transfer of Right of Receivables/Credit and Assignment on Fiduciary Rights along with the Grant of Personal Guarantee on behalf of Thee Ning Khong as meant at Deed of Personal Guarantee Grant. PT. Bank Permata, Tbk on December 22 2003 has submitted law suit to PT. Adidaya Mandiri Utama and Thee Ning Khong through District Court of South Jakarta as case No. 761/Pdt.G/2003/PN.Jkt.Sel. District Court of South Jakarta has decided Decision among other: 1. Stating Defendant I and Defendant II has conducted default which giving loss to the Plaintiff; 2. Punishing Defendant I and Defendant II jointly and personally liable to pay material compensation to the Plaintiff which totally amounting to Rp. 8.406.933.274,82 (eight billion and four hundred six million and nine hundred thirty three thousand and two hundred seventy four point eighty two cent rupiah) added with late fine amounting to 6% per month; 3. Punishing Defendant I and Defendant II jointly and personally liable to pay immaterial compensation to the Plaintiff which totally amounting to Rp. 10.000.000.000,- (ten billion rupiah). In appeal process, DKI Jakarta High Court on July 18 2005 has decided To Affirm Decision of District Court of South Jakarta No. 761/Pdt.G/2003/PN.Jkt.Sel. PT. Adidaya Mandiri Utama and Thee Ning Khong proposed cassation statement and submitted Memory of Cassation towards Decision of DKI Jakarta High Court No. 76/PDT/2005/PT. DKI., and Novian & Partners as the Legal Consultant of PT. Bank Permata, Tbk has submitted Counter of Memory of Cassation. Supreme Court by Decision No. 2051 K/Pdt/2006 on July 25, 2007 has decided To. Refused Cassation Request as proposed by Pt. Aditaya Mandiri Utama and Thee Ning Khong.
