The ninety-eight years old legendary herbal company PT Nyonya Meneer must accept bankruptcy after the Commercial Court of the Semarang District Court in Central Java decided to cancel the peace agreement that the Company signed with its creditors back in 2015. The cancellation of the peace agreement was requested by one of the Company’s creditors Hendrianto Bambang Santoso, and it was granted on August 3, 2017. The Company, however, said they had no idea that this would happen because the Company was in a healthy condition and claimed that they had a total of Rp16 trillion in assets. After the cancellation of peace agreement was promulgated by the court, the Company reportedly tried to offer a peace deal, which is not allowed under the applicable law. What a mess.To subscribe please click here