In Reply to: While I think that there's a lot of posted by Fiona on Friday, 13. January 2006 at 10:50 Bali Time:
It has been suggested within this forum via someone who should know the situation, that Kadek took a lot of money out of AP to finance his other business concerns.
My concern is this was what lots of entrepeneurs did in Australia in the 1980's and lots of smaller people went bust.
These large companies owed them lots of money, money that was transferred out of these companies through loopholes in corporate laws and put into other areas and companies. Thousands of Aussies went broke after this, yes and Skase and Bond were just 2 of the bigger names that did this.
Australia then tightened up and Onetel has made them tighten up our corporate laws again.
But unfortunatley AP was not Australian, so it is feasible that this company could offer very cheap deals insisting on early payment, transfer the money out of your company into another and then say Oh, sorry this company is broke, I cannot pay all my creditors or offer the service you have paid for.
There will be lots of small business that will fail because of this man, not just the balinese he employs directly. But small companies who supply goods and services to AP.
It does not seem that he has made the effort to sell all his other interests to enable all his debts to be paid. No, he transfers money out of a company and then declares he is in trouble.
I would have to ask where is this money, what company might it be sitting in.
Who has control of this, well Kadek of course.
You do have to wonder.