Franky Tjahyadikarta, the figure behind some of Indonesia’s most luxurious travel stays, including PT Bukit Uluwatu Villa Tbk (BUVA), is currently in a period of debt restructuring (PKPU) after voluntarily submitting a PKPU petition on himself. Although this action deserves appreciation, the process is not easy. With the value of incoming bills reaching more than Rp2 trillion, the peace proposal offered by Franky has not been able to satisfy all creditors. Towards the end of last week, the creditors again approved the request for an extension of time. The Panel of Judges will confirm this decision in a hearing scheduled today, March 28, 2022.To subscribe please click here
