Voting Results, KSP Indosurya Peace Approved

Illustration. (Photo: Unsplash)

JAKARTA - The conflict between the Indosurya Cipta Savings and Loan Cooperative (KSP) and customers / creditors ended in peace. This is after the peace proposal offered by KSP Indosurya was approved by the majority of the members.

Based on the voting results at the Creditors Meeting for Postponement of Debt Payment Obligations (PKPU) which was attended by 4,724 members representing the other 1.1 million, 73.41 percent agreed to the KSP Indosurya peace plan. Meanwhile, 26.59 rejected peace. Originally, today Friday 10 July, the results of this vote will be ratified by the panel of judges.

"The results of the creditors' voting on the peace plan, which agreed with 73.4 percent, disagreed with 26.6 percent," said Sukisari, PKPU administrator at the Central Jakarta District Court, Thursday, July 9.

According to Indosurya's attorney, Juniver Girsang, with the approval of the majority of customers, the proposals that were offered by KSP Indosurya could rationally be understood and approved. Furthermore, he said, it was left for Indosurya to carry out what had been submitted in the proposal.

"We pray that everything goes well. With the hope that this will work, of course there will be cooperation with creditors in the future," he said.

Regarding the payment mechanism, he continued, in the proposal there are schedules that have been agreed upon and will be obeyed by KSP Indosurya. With this schedule implemented, customers or creditors will begin to receive their funds according to the agreed time at the time of PKPU. Indosurya will be accountable for its obligations to customers.

In addition, with the results of the voting, Juniver emphasized that there was no longer any reason to propose PKPU against KSP Indosurya.

"Because this is to decide or determine that there is an obligation from Indosurya and it was agreed upon at the time of PKPU, that's why it is called homologation or an agreement between creditors and debtors. If someone is claiming it is making it up, look for face, seek attention. the process in PKPU proceedings, of course, will not take actions that have no legal basis, "he said.

Another KSP Indosurya lawyer, Hendra Widjaya, said the previous series of meetings which were conducted by opening up a discussion space between the management and cooperative members had yielded results. Hendra emphasized that KSP Indosurya had submitted the best proposal based on suggestions and input from creditors in order to reach an agreement for both parties.

Hendra explained that the KSP Indosurya had previously submitted a peace proposal to a number of customers and creditors in order to achieve peace. Then the creditors submitted their input and suggestions to perfect the proposal for solving banking problems submitted by their party as a debtor.

The founder of the Indosurya Cipta Savings and Loan Cooperative (KSP), Henry Surya, previously confirmed that the funds of the Indosurya KSP members were guaranteed safe, in line with the spirit of the proposed peace proposal. His direct presence at the Central Jakarta District Court in the continuation of the PKPU KSP Indosurya process confirmed this intention.

Juniver emphasized that the presence of his client is a strong signal if the founder of KSP is strongly committed to resolving the peace. To further convince members or customers, Henry himself admitted that he proposed PT Sun International Capital as a corporate guarantee for the payment of funds from KSP members.

Guarantee Customer Funds

For the latter offer, Henry explained, the purpose of the corporate guarantee he was proposing. He explained, if later KSP Indosurya was unable to return the funds that had to be paid or was in default, PT Sun International Capital would take over the maturing debt, using convertible loans with the company's assets as collateral.

"Our priority is to ensure that customers or members can have their money refunded," said Henry.

To note, PT Sun International Capital itself is a property arm of the Indosurya Group. This company is 99.9 percent owned by Henry Surya. The company owns property assets such as office buildings, strata title apartments and shophouses scattered throughout Indonesia.

At the trial, the management of the KSP Indosurya submitted an updated bid. Among other things, the management of the Indosurya Cooperative will shorten the tenor of the debtor's refund, in installments based on the amount of funds under management or Asset Under Management (AUM).

Then, for AUM up to Rp. 100 million, a Down Payment (DP) of 10 percent will be given to be paid in September 2020. The cooperative will also prioritize payments for creditors who are sick, elderly or who are in dire need of funds (very urgent condition). As the founder, Henry emphasized that he understood the members who were having difficulties.

"We have a suggestion to set up a post for elderly members or customers, who are critically ill and who only have funds available to us. That is outside of the peace proposal. We will accelerate it. This is our good intention for people in need," he said. Henry.

Follow the Voting Results

At the trial, a customer, Rifky Firmansyah, who rejected peace, admitted that he was disappointed with the voting results. However, he said he must obey the voting results of these customers.

After the voting, the Chief Judge also read out the objections of those who rejected the peace. It was said that peace opponents questioned Henry Surya's presence at the trial.