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The Shareholder Settlement Program: A Pragmatic Resolution to confront a Systemic Banking Crises in view of the Dysfunctional Legal System and Tradition of the Republic of Indonesia

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(1)The Shareholder Settlement Program: A Pragmatic Resolution to confront a Systemic Banking Crises in view of the Dysfunctional Legal System and Tradition of the Republic of Indonesia Maroef, T.M.. Citation Maroef, T. M. (2010, March 25). The Shareholder Settlement Program: A Pragmatic Resolution to confront a Systemic Banking Crises in view of the Dysfunctional Legal System and Tradition of the Republic of Indonesia. Retrieved from https://hdl.handle.net/1887/15127 Version:. Not Applicable (or Unknown). License:. Licence agreement concerning inclusion of doctoral thesis in the Institutional Repository of the University of Leiden. Downloaded from:. https://hdl.handle.net/1887/15127. Note: To cite this publication please use the final published version (if applicable)..

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

(53) +8. >2/4?.3-3+<C+?>29<3>C388.98/=3+2+= ,//8-+<<3/.9?>,C>2/&?:</7/9?<>90?=>3-/+8.>2/?>CD9DED9?>1<*B92E>1<-89<5D8598=>3>?>398+6'<3,?8+63=+=>+8.+698//8>3>C>2/&?:</7/9?<> 3=38-977+8.90>2/1/8/<+6-9?<>>2/</63139?=-9?<>>2/7363>+<C-9?<>+8.>2/+.7383=><+>3@/-9?<>'2/&?:</7/9?<>3=>2/2312/=>-9?<>90>2/09?<-9?<> CICD5=C1>42I

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