PT Nyonya Meneer (the Company) must accept bankruptcy after the Commercial Court of the Semarang District Court in Central Java decided to cancel the peace agreement that the Company had signed with its creditors back in 2015. The cancellation of the peace agreement was requested by one of the Company’s creditors Hendrianto Bambang Santoso, and it was granted on August 3, 2017. The Company, however, said that they had no idea that this would happen because the Company was in a healthy condition and claimed that they had a total of Rp16 trillion in assets. Interestingly, the team of curators still cannot find the trillions of rupiah assets. In a meeting of creditors held on September 4, 2017, the curators informed that they had only found several assets belonging to the Company, while other assets found were under the name of the Company’s president director and shareholder. In the mean time, the Company tried to make amends with their creditors, and is supposedly in discussion with several potential investors, one of whom is the former Minister of Trade Rachmat Gobel.To subscribe please click here