NewzLegal and development observer Hardjuno Wiwoho stated that the government's settlement of Bank Indonesia Liquidity Assistance (BLBI) debt securities does not automatically extinguish the underlying obligations of the original debtors and obligors. The statement addresses the ongoing legal complexities surrounding the recovery of state funds related to the 1998 financial crisis.
According to the analysis, the fulfillment of government debt instruments is a distinct process from the personal or corporate liability of the parties involved in the initial credit agreements. This distinction suggests that the state maintains the legal grounds to pursue outstanding debts from obligors despite the formal resolution of specific government-issued securities.
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