Private Credit Lender Ares Wins Court Ruling on Indonesia Debtor
- David Salim sentenced to jail for contempt: Singapore court
- Lenders include private credit funds Ares, Tor Investment
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Ares Management Corp. and Tor Investment Management won a Singaporean court ruling that found an Indonesian borrower in contempt over a $200 million private credit loan, marking a rare win for direct lenders grappling with legal complexities in Asia.
The Supreme Court of Singapore Friday sentenced David Salim — a businessman in Indonesia with ties to one of the country’s wealthiest families — to four months of imprisonment for defying an order to stop suing his lenders in Jakarta over the loan.