Semarang Commercial Court Breaks PT Sritex's Bankruptcy

ILLUSTRATION BETWEEN

The Semarang City Commercial Court decided to bankrupt PT Sri Rejeki Isman (Sritex) after granting the request of one of the creditors of the textile company who asked for the cancellation of peace in delaying the obligation to pay debts that had been previously agreed upon.

Spokesperson for the Semarang City Commercial Court, Haruno Patriadi, confirmed the decision that resulted in PT Sritex's bankruptcy.

According to him, the decision in the trial led by Chief Justice Muhammad Anshar Majid granted PT Indo Bharat Rayon's request as a debtor of PT Sritex.

"Granted the petitioner's petition. Canceled the PKPU peace plan in January 2022," he said as quoted by ANTARA, Wednesday, October 23.

In the decision, he said, the curator and supervisory judge were appointed.

"Furthermore, the curator will arrange a meeting with the debtors," he added.

Previously, in January 2022 PT Sritex was sued by one of its debtors, CV Prima Karya, who proposed to postpone debt payment obligations (PKPU).

The Semarang City Commercial Court granted PKPU's lawsuit against PT Sritex and three other textile companies.

As time went on, PT Sritex was again sued by PT Indo Bharat Rayon because it was deemed not to fulfill the agreed debt payment obligations.