Jakarta. Weston International Asset Recovery Corporation Inc. has canceled the law suit reserved refund worth US $ 80 million against Bank JTrust Indonesia from the United States District Court Southern District of New York City. The cancellation of the lawsuit has been going on since July 1, 2015.Such certainty delivered Hartono Karyatin S, Corporate Secretary of the Bank JTrust to Indonesia stock exchange (idx), Wednesday (22/7). In the description of it, JTrust explained, the Bank funds worth US $ 80 million allegedly owed based on some mandatory debt conversion (mandatory convertible bond/MCB) issued JTrust Bank, the predecessor of Bank Century.In the year 2013, Weston has obtained the verdict against the MCB in court matters of the Republic of Mauritius and then apply for the implementation of the ruling of the United States to seize Bank account JTrust on the banks of New York. "In fact, Jtrust is not a Bank is the subject of the law in the jurisdiction of the State," wrote Hartono.At other times, Weston made a mistake and the Act of contempt (contempt of court) against the judiciary involving Weston Capital Advisors, Inc. against the PT Bank Mutiara. As a result, in July 2001, the United States District Court banned the entire lawsuit against Weston Bank JTrust to be continued in the Southern District of New York to Weston can restore JTrust to the Bank an amount of over US $ 3.8 million.HARTONO also tell us, a year after the District Court freeze the lawsuit Weston, Weston succumbed and cancel lawsuits to Bank JTrust, which is worth US $ 80 million. "While, Weston Capital Bank and Pearls will remain on hold at least until the District Court further decided whether to grant the application for Bank JTrust related contempt of court and provide sanctions against the leadership of Weston John r. Liegey and also some other Weston entities (including Weston International Asset Recovert Corporation, Inc.) for their bad behavior," added Hartono.HARTONO asserted, the Bank will continue to make JTrust upata and give a proper sanctions to John Weston and to return the money.On the other hand, Hartono said, JTrust Bank also stated that based on its books, not found the existence of a debt or obligation owed by the Bank to JTrust First Global Funds PCC Limited (FGFL) worth US $ 112,5 million as claimed in the lawsuit against FGFL Bank JTrust in a Court of Mauritius. "For that reason, banks JTrust not recognize the debts claimed FGFL, Weston, and other parties in the Republic of Mauritius," he explained.
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