Earlier this month we noticed that PT Ace Hardware Indonesia Tbk (ACES) was sued in a lawsuit on Suspension of Debt Payment (PKPU) by a law firm. On October 20, 2020, the company filed a counter lawsuit accusing the law firm of unlawful act. Separately, two companies filed a lawsuit against PT Steadfast Marine Tbk (KPAL), a shipbuilding company, seeking for its bankruptcy. This is the third bankruptcy lawsuit filed against KPAL in the same commercial court within the past year.
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