Paper company slams Bank Danamon with $95m foreign exchange lawsuit

Major Indonesian derivatives distributor turns to central bank for assistance

asiarisk-090401-29-gif

Bank Danamon, one of Indonesia's most active distributors of derivatives contracts, has turned to Bank Sentral Republik Indonesia to help it resolve a 1.1 trillion rupiah ($94.9 million) lawsuit filed by one of its corporate clients.

Indonesia paper producer PT Esa Kertas Nusantara (EKN) claimed in filings to the South Jakarta District Court last month that it had been inappropriately sold a total of 17 foreign currency forward contracts and cross-currency swaps by Bank Danamon dating back to Oc

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: