In May 2016 two companies under the management of Lippo Group, Lippo Limited (HKEX.00226) and Lippo China Resources (HKEX.00156), together with the LCR Group, made a joint announcement that a bankruptcy petition was filed by certain creditors against CS Mining LLC, the valuable strategic partner of the Group. On August 4, 2016, the United States Bankruptcy Court for the District of Utah granted the petition. The case reminds us of Lippo Group’s engagement in the mining industry in Indonesia. To subscribe please click here
