PT Megalestari Unggul and its personal guarantors namely Paulus Tannos, Lina Rawung, Catherine Tannos and Pauline Tannos were declared bankrupt by the Commercial Court of the Central Jakarta District Court in February 2017, but the decision made more problems. The debt dispute is a collateral damage of a long-standing dispute between Paulus Tannos and his former business partners. Paulus, who is now residing in Singapore with his family, objected to the bankruptcy decision. In an open statement published on Tempo newspaper last week, Paulus noted that the family was tricked into guaranteeing the debt of PT Megalestari Unggul. Moreover, Paulus claimed he never received any invitation from the court regarding the dispute and therefore the verdict was not valid. But even so, the team of curators still went ahead with their work. The supervisory judge on the case even promulgated the first stage of the distribution of proceeds from the sale of the bankruptcy assets. What should we expect after this?To subscribe please click here
