On January 8, 2018, PT Bank OCBC NISP Tbk (NISP) filed a lawsuit for Suspension of Debts Payment (PKPU) against PT Jaya Smart Technology of Royal Standard group. The Panel of Judges of the Commercial Court of the Central Jakarta District Court granted the lawsuit and so the Company is in their temporary PKPU, which will be valid for 45 days. So far, the Company reportedly owes 81 creditors, including Luxembourg’s Molucca Holdings S.à.r.l.. What interesting from the case is that NISP did not only sue the Company but also three other parties including the founder of the Company one Untung Sastrawijaya, who was convicted for his involvement in a case of corruption back in 2006.To subscribe please click here
