PKPU for Indah Kiat

In October 2021, PT Pabrik Kertas Tjiwi Kimia Tbk (TKIM) and PT Indah Kiat Pulp & Paper Tbk (INKP),  both part of Sinar Mas conglomerate, sued CV Karya Putra Bersama (CV KPB) for alleged default. The parties have a coal sale and purchase agreement. The court had already decided in favor of TKIM and INKP in June 2022, however, instead of implementing the court’s decision, CV KPB filed a lawsuit against INKP, seeking to force the company to restructure its debt.