It has only been three years since PT Forza Land Indonesia Tbk (FORZ, formerly PT Megah Satu Properti) launched its plan to offer the company’s shares through initial public offering (IPO), and two years since the plan was realized in April 2017, the company are already facing issues. In 2019, the Commercial Court of the Central Jakarta District Court registered two lawsuits on Suspension of Debts Payment (PKPU) against the company. The dispute can be resolved with peace agreement, but not for long. By 2022, Forza Land had been declared bankrupt after the court decided to annul the previously agreed peace agreement. Legal problems continue to this day. To subscribe please click here
