In the first week of March 2020, a lawsuit against PT Karya Citra Nusantara (KCN) was registered to the Commercial Court of the Central Jakarta District Court. Listed as the plaintiff is the Company’s former legal counsel Juniver Girsang. Juniver had supposedly demanded US$1 million in success fee. The court granted the lawsuit. KCN was forced to restructure its debt. It managed to use the temporary PKPU to resolve the issue with the majority of its creditors. On May 14, 2020, the Panel of Judges was supposed to read the peace agreement, but the hearing was postponed.
To subscribe please click here