JAKARTA (Yosefardi) – Telecommunication provider PT Citra Sari Makmur (CSM) is currently facing a threat of Postponement of Debt Settlement Obligation (PKPU).
PT Bank Bukopin Tbk (BBKP) filed the PKPU over CSM to the Central Jakarta District Court. The bank claimed that CSM has failed to pay Rp53.375 billion debts to the bank. CSM has also matured debt of Rp1 trillion to other 15 banks.
Based on the agreement, CSM supposed to make payment in two periods, March 2013 and June 2013. However, since July 2012 CSM did not made payment, triggered Bukopin to file PKPU.
The judges are scheduled to read verdict on this case on Oct. 16, 2013. (indrab@yosefardi.biz)