JAKARTA (Yosefardi) – Troubled company PT Tranka Kabel should submit its settlement proposal within two weeks as the deadline has been set on Oct. 25, 2013.
After the proposal submitted, the creditors will discuss before making a vote on Nov. 7, 2013. Kiki Nasirhadi, who is in charge in the PKPU process, revealed that the company has yet submitted the proposal.
Central Jakarta Commercial Court granted PT Tranka Kabel’s Postponement of Debt Settlement Obligation (PKPU) voluntary petition. The panel of the judges have appointed curators from Wibhisana and Partners Law Office to handle the PKPU process.
With the granting of the PKPU petition, Tranka Kabel has successfully avoided bankruptcy suit. The PKPU petition was Tranka Kabel’s rebuttal of bankruptcy suit filed by CV Setia Mandiri and CV Barlian Jaya Utama.
Setia Mandiri and Barlian Jaya previously filed bankruptcy suit based on the aluminum purchase amounting US$200,355. Meanwhile, Tranka Kabal itself also included PT Wonosari Jaya as the other creditor. (indrab@yosefardi.biz)