JAKARTA (Yosefardi) – Central Jakarta Commercial Court granted PT Tranka Kabel’s Postponement of Debt Settlement Obligation (PKPU) voluntary petition.
Through verdict No 61/Pdt-Sus/PKPU/2013/PN.Niaga.JKT.PST, the court declared that the cable company is in PKPU for the next 45 days after the verdict trial on Sep.26, 2013. The panel of the judges also 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.
The first creditors meeting will be held on Oct. 8, 2013, while the deadline to submit debt invoice is Oct. 18, 2013. If Tranka failed to make settlement with its creditors within 45 days, the company will be declared bankrupt. (indrab@yosefardi.biz)