Petroselat Ltd, the subsidiary of PT Sugih Energy Tbk (SUGI), as we all know is in insolvency after being declared bankrupt last year. Unlike it’s fast bankruptcy process, the Company’s insolvency process is too complicated. On November 22, 2018, the curator of the insolvency process one Jun Cai filed a new lawsuit against PT Petronusa Bumibakti, also a subsidiary of SUGI and the majority shareholder of the Company. The first hearing of the other lawsuit filed by Petronusa against SKK Migas is scheduled on December 5, 2018.
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