PDFCI filed bankruptcy case against firm<\/p>\n
JAKARTA (JP): Publicly listed Bank PDFCI filed a bankruptcy
\npetition against PT Sarana Kemas Utama at the commercial court on
\nThursday.<\/p>\n
According to court data, PDFCI filed the bankruptcy request on
\nSept. 30 after the company failed to repay a Rp 21.78 billion
\n(US$2.4 million) loan it secured from the bank in 1993.<\/p>\n
"Since the company failed to repay the loan, Bank PDFCI has to
\nbring the case to the commercial court," the data said.<\/p>\n
The insolvency case pitting PDFCI against Sarana is the tenth
\nsuch case submitted to the Jakarta Commercial Court since the
\ncountry's new bankruptcy law came into effect on Aug. 20.<\/p>\n
The plaintiff's lawyer, Teguh Samudera of Teguh Samudera Law
\nfirm said on Thursday the first hearing would be next Wednesday.<\/p>\n
Later in the day judge Ch. Kristi Purnami Wulan adjourned the
\ncase pitting construction firm PT Lukindo Technics against
\nproperty developer PT Indra Maju Lestari to Oct. 12 after the
\nlatter said it planned to submit a suspension of payment proposal
\nto the court.<\/p>\n
Lukindo Technics filed a bankruptcy suit on Sept. 28 at the
\ncommercial court after Indra Maju Lestari failed to pay
\nconstruction fees worth Rp 8.12 billion and US$444,410, which
\nwere due to be settled on Aug. 25, last year.<\/p>\n
Lukindo Technics is a construction firm which was involved in
\nbuilding an apartment block on Jl. Kartini, Central Jakarta,
\nowned by property developer Indra Maju Lestari.<\/p>\n
The plaintiff's lawyer, Gunawan of Gunawan law firm, said on
\nThursday that despite his client completing all the work in 1995,
\nIndra did not pay the construction fee.<\/p>\n
The country's new bankruptcy law allows troubled firms to file
\nfor suspension of payments. Under the procedure, the court can
\nissue a temporary payment suspension order lasting 270 days
\nduring which the debtors and creditors should work out a
\nreorganization plan.<\/p>\n
Failure to do so will result in the initiation of bankruptcy
\nproceedings. (aly)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/pdfci-filed-bankruptcy-case-against-firm-1447893297",
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