SINGAPORE, Sept. 17, 2001 (Reuters) - Citibank NA has won its $2.4 million lawsuit against debt-laden Asia Pulp & Paper (APP) in the Singapore High Court, the first of two cases filed by the US bank. The High Court on Friday ordered APP -- which had suffered six defeats in the court -- to pay Citibank the amount for general contracts, an official document obtained by Reuters on Monday showed. Citibank is also suing APP for another $4.4 million over general contracts. That hearing has been set on October 3. It is not clear how creditors who have sued Asia's largest pulp and paper group outside Japan will get their money back as APP restructures a massive debt of $12.2 billion. The High Court has given APP two reprieves, ordering a stay in proceedings which could lead to liquidation of the group. APP had argued there was very little potential value for creditors, apart from what might derive from the reorganization of the group's operating subsidiaries. APP -- controlled by Indonesia's Sinar Mas group, which is owned by the Widjaja family -- has frozen payment of interest and principal to preserve its precious cash. Last week, APP agreed to hand over management control of its cash to creditors. The agreement came after the Indonesian government -- a guarantor to some of APP's debt -- said it planned to appoint independent chief financial officers at firms of embattled Sinar Mas to control their cash flows. APP has been delisted from the New York Stock Exchange, while its units Indah Kiat and Tjiwi Kimia were suspended on the Jakarta Stock Exchange for failure to submit their latest financial statements.