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Byline: Linda Yulisman, The Jakarta Post, Jakarta
A recent Supreme Court ruling may set a precedent for more investors to sue for funds lost after the near collapse of Bank Century, now called Bank Mutiara.
The ruling came after the Deposit Insurance Agency (LPS) twice failed to find buyers for the bank, which was rescued by a contentious Rp 6.7 trillion (US$720 million) government bailout in late 2008.
Under the ruling, Bank Mutiara was required to pay 27 investors in Surakarta, Central Java, for their funds that Bank Century invested in PT Antaboga Delta Sekuritas.
Antaboga, now defunct, was an investment firm managed by the top executives of …