2024 is a tough year for State-owned Enterprises (BUMN) and their subsidiaries. Many business partners are demanding debt restructuring, including against PT Rajawali Nusindo, a subsidiary of the food holding company PT Rajawali Nusantara Indonesia (Persero) (PT RNI) or ID Food. The lawsuit was filed in June 2024 and the company has entered their PKPU period since August 2024. Debt restructuring is not a simple matter, but fortunately, far from media coverage, Rajawali Nusindo was able to reach a peace agreement with the majority of its creditors last week. Now, Rajawali Nusindo must focus on completing at least Rp3 trillion of its obligations. To subscribe please click here
