On Bankruptcy and PKPU against State-Owned Enterprises

In April 2016, the Commercial Court of the Central Jakarta District Court rejected the petition for bankruptcy and Suspension of Debts Payment (PKPU) against PT Merpati Nusantara Airlines (Persero) (Merpati) that was filed by its former employees and one of its creditors PT Prathita Titian Nusantara. The Commercial Court declared the lawsuit unacceptable because the Court was of the opinion that the the authority with the right to file for bankruptcy or PKPU against a State-Owned Enterprise (BUMN) rested only with the Minister of Finance. If that’s the case, when a BUMN fails to perform its obligations, what legal remedy can said BUMN’s creditor(s) seek?To subscribe please click here