Some have been waiting since November 2011 when all this started, so they are probably resigned to this by now. MD Brian Flannery is a very experienced tough guy and so is the President Director of PT Bayan TBK, Low Tuck Kwong.
https://www.reuters.com/finance/stocks/officer-profile/BYANn.JK/1230843
It is not a case of who blinks first as neither will. Low Tuck Kwong comes from Singapore so the present case being dealt with there makes sense.
The shares frozen are 56.05% of Kangaroo Resources KRL. At present PT Bayan are in talks with KRL about acquiring the outstanding 43.95%. This requires permission from A.S.I.C. as they are a foreign bidder.
It will be interesting to see if PT Bayan go-ahead with a bid and whether that comes before or after the Tranche 2 Appeal decision.
Ann: Change of Director's Interest Notice, page-9
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