The process of Suspension of Debts Payment (PKPU) of Merpati Airlines will end soon but the Panel of Judges of the Commercial Court at the Surabaya District Court decided to grant another time extension. Merpati have until October 18, 2018 to convince their creditors. Even though the time limit will be over on November 3, 2018, the peace agreement should be promulgated before that because as a State-owned Company, the process of PKPU is not over with only a peace agreement. Meanwhile, the dispute of shares ownership between PT Aryaputra Teguhartha, a company with links to PT Ongko Multicorpora (PT Mitra Investindo Multicorpora) and Kaharudin Ongko (Bank Umum Nasional and former defendant in the BLBI graft case), and PT Bunas Finance Indonesia Tbk (now PT BFI Finance Tbk) (BFIN) continues. Aryaputra announced that they have filed another lawsuit, this time against the consortium of investors lead by Garibaldi Thohir and Patrick Walujo.
To subscribe please click here