Bankruptcy petition against PT Hutama Karya rejected
Bankruptcy petition against PT Hutama Karya rejected
JAKARTA (JP): The Jakarta Commercial Court turned down a
bankruptcy petition on Wednesday against state-owned builder PT
Hutama Karya brought by private construction firms PT Jaya
Readymix and PT Primacout Lestari.
Presiding judge Parwoto Wignjo Sumarto declared that Hutama
Karya did not have any direct debt obligation to the two private
construction firms.
The judge said that it was a joint-operation company set up by
PT Hutama Karya and PT Bina Main to develop several property
projects which owed a Rp 2.36 billion (US$314,600) debt to Jaya
Readymix and Primacout Lestari.
"Because of that, the court rejected the petition," he said at
the hearing on Wednesday.
Early this month, Jaya Readymix and Primacout Lestari filed a
joint bankruptcy claim against the state-owned firm, seeking a
payment of Rp 2.36 billion (US$315,626) in construction fees.
Hutama Karya owed Rp 1 billion in construction fees to Jaya
Readymix and Primacout for the development of Rajawali
Condominium, Rp 47.65 million for the development of Griyamas
Kemayoran, Rp 8.77 million for Sewa Manis apartment and Rp 1.07
billion for Pluit Laguna apartments.
The two construction firms were involved in building several
projects owned by Hutama Karya between 1996 and 1997.
The plaintiff's lawyer, Herry Wibowo, of Teras Narang law
firm, said he was considering an appeal to the Supreme Court.
In another development, the Jakarta Commercial Court approved
a temporary suspension of payment proposed by multifinance firm
PT Perdana Multi Finance to renegotiate its debt with Bank Nusa
Nasional (BNN).
BNN, a financial arm of the widely diversified Bakrie Group,
filed an insolvency petition against Perdana Multi Finance early
this month after the latter failed to pay its debts totaling Rp
8.26 billion.
Perdana Multi Finance also owes Rp 5 billion to Bank
Universal, Rp 5 billion to Bank Dharmala, Rp 2.3 billion to Bank
BPD Indonesia and Rp 4 billion to Bank Sahid Gajah Perkasa.
It also owes Rp 4 billion to Bank Multicor, Rp 30 billion to
the state's Bank Ekspor Impor Indonesia, Rp 17 billion to Bank
Unibank, Rp 5 billion to Bank Pos Nusantara, Rp 5 billion to Bank
PDFCI and Rp 15.43 billion to the state's Bank Tabungan Negara.
Perdana Multi Finance has been given 45 days to renegotiate
its debts with its creditors. If the company fails to do so, it
will likely be declared bankrupt. (aly)