On Bank DKI v Waskita Beton : The Dispute Continues

The problems for PT Waskita Beton Precast Tbk (WSBP) is getting worse, as expected. We all know that towards the end of 2023, the subsidiary of PT Waskita Karya (Persero) Tbk (WSKT) is being sued by one of its creditors, PT Bank DKI. At the heart of the dispute is the decision to settle debts through Mandatory Convertible Bonds (OWK) which, supposedly, was not approved by Bank DKI. In early 2024, Bank DKI withdrew this lawsuit, only to file a new lawsuit in a different district court. The parties tried to mediate but to no avail. The trial continued far from the media coverage. Not long ago, we learned that Bank DKI won the lawsuit, but WSBP refused to surrender. The company filed for an appeal immediately.To subscribe please click here