JAKARTA (Yosefardi) – Troubled mining company PT Dayaindo Resources International Tbk might propose another settlement proposal to the creditors on Sep. 16, 2013 as its creditors had rejected its debt settlement proposal.
The creditors view that Dayaindo has failed to submit a realistic proposal to settle the debt. Dayaindo might submit the revised proposal ahead of the voting process scheduled for September 20, 2013.
Djawoto Juwono, Dayaindo’s bankruptcy creditors, revealed that if the votes rejected again Dayaindo’s proposal, then the company will be declared insolvent.
Dayaindo and its subsidiary PT Daya Mandiri Resources was declared bankrupt by Central Jakarta Commercial Court on July 17, 2013. The companies were considered to have failed in paying its matured debt to Bank International Indonesia Tbk and several other creditors. (indrab@yosefardi.biz)