Commitment To Pay Debt, PT BRW Prepares Funds Even Though Creditors Reject It

The atmosphere of the trial at the Commercial Court, Central Jakarta. (IST)

JAKARTA PT Bali Ragawisata (PT BRW) affirms its commitment to continue the debt restructuring payment process to creditors. This statement was delivered in a follow-up hearing in the case of the lawsuit for the cancellation of peace (homologation) on the Decision on the Suspension of Debt Payment Obligations (PKPU) which took place at the Central Jakarta Commercial Court, Thursday, May 22.

During the trial, PT BRW's intention to pay off its debt obligations was rejected by one of the creditors, who is also a shareholder. This refusal resulted in a trial chaired by the Chief Justice along with two other judges being temporarily postponed.

"We, from the debtor, have tried to make payments, as can be seen in the trial. However, the applicant who is a shareholder refused, even though we have prepared a check," said PT BRW's attorney, Anthony Febriawan, after the trial.

Six PKPU Homologation Lawsuits

PT BRW is currently facing lawsuits from six parties related to the cancellation of PKPU peace. The petitioners in this case include: Lily Bintoro and PT Bhumi Cahaya Mulia (Catificate No. 18), CV Dwi Putu Kassirano (Catcase No. 19), Simon Chang (Catcase No. 20), PT Pilar Garba Inti 9 (Catera No. 21), Ryo Okawa (Catera No. 22), and PT Tata Mulia Nusantara Indah, PT Karya Intertek Kencana, and PT Karya Makmur Integra (Cat Perkara No. 23).

One of the names in the spotlight is Lily Bintoro, the applicant in case No. 18, who is also listed as a shareholder of PT BRW based on data from the Directorate General of AHU of the Ministry of Law and Human Rights of the Republic of Indonesia. Together, there are other names of shareholders such as Djie Tjian An, Didi Dawis, and Saiman Ernawan.

Anthony Febriawan questioned the motive behind the refusal to pay debts by the applicant who is part of the company's own internals. "Is it natural for a shareholder to want to make his own company fall into bankruptcy? Our client considers there are strong indications that this step was intentional," said Anthony.

PT BRW, he continued, did not rule out the possibility of taking legal action, including reporting certain parties to the police if an element of intent was found in the company's engineering efforts.

"We have prepared the funds. Our client is still able to run a business and is committed to debt restructuring obligations. However, these efforts have been hampered," he added.

This case is in the public spotlight because it involves important aspects in the restructuring of the company's debt and relations between shareholders and management. PT BRW emphasized the ongoing commitment to completing obligations, as well as showing indications of a conflict of interest in the company's internal structure.