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[PDF] Lapindo Brantas shirking its responsibility for damage caused by the mud volcano in Sidoarjo, Indonesia - Major international banks involved in financing catastrophic mud volcano
Author: Friends of the Earth International, Published on: 1 June 2007
On May 29 2006, a mud volcano started gushing from the ground less than 200m from the Banjar Panji I gas exploration well...and has not stopped since... 3,500 families have been forced from their homes, 11 villages submerged... It has devastated the lives of more than 15,000 people... the compensation process has been extremely slow and there is a large discrepancy between what the victims are demanding and what [operator Lapindo Brantas (joint venture Energi Mega Persada, MedcoEnergi, Santos)] is willing to pay... At least 33 banks and financial institutions have been involved in financing the three Brantas PSC companies, among them...Credit Suisse...Barclays...Merrill Lynch...Natixis [joint venture Groupe Banque Populaire & Caisse d'Epargne] and the Fortis Group...