Petroselat Ltd, the subsidiary of PT Sugih Energy Tbk (SUGI), was declared bankrupt on July 5, 2017. Since then, Petroselat (the Company) has been still trying to make amends with its creditors in order to avoid insolvency process. In the meeting of creditors held on September 6, 2017, SUGI’s representatives finally revealed the name of the potential investor that may help the Company resolve its problems. SUGI asked for 30 additional days to finish the due diligence process, but the creditors only gave 15 days.To subscribe please click here
