Bandung Express sues Bank Permata over asset auction plans

The Bandung District Court has accepted a lawsuit filed by CV Bandung Express, a bus company established in 1973, against Bank Permata. The lawsuit alleges unlawful acts regarding the bank's plan to auction company assets to settle an outstanding debt.

Legal counsel Benny Wullur stated that the client has been a loyal customer since 2010. The dispute centers on a remaining debt of approximately Rp8.9 billion, while the collateral assets—consisting of five plots of land and buildings totaling 13,817 square meters in Bandung—are valued significantly higher. According to the plaintiff, the assets have an NJOP value of approximately Rp136 billion, while the bank's estimate is roughly Rp76.8 billion.

The plaintiff is seeking a postponement of the auction and claiming material losses of over Rp60.7 billion and immaterial losses of Rp10 billion. They also contend that the credit agreement is not scheduled to expire until 2028. Bank Permata, through Head of Loan Workout Seno Sasongko, maintained that the bank is exercising its rights under the credit and collateral agreements to recover the total outstanding obligations.