Since last week, Sujaya Group’s two subsidiaries—PT Bintang Jaya Proteina Feedmill (Bintang Jaya) and PT Sinka Sinye Agrotama (Sinka Sinye)—has had to face a lawsuit on Suspension of Debts Payment (PKPU) filed by HSBC Banking Corporation Ltd. HSBC claims that both companies owe the Bank Rp685.12 billion. Sujaya Group, however, begs to differ. At the hearing held on October 11, 2016, Sujaya Group through its legal counsel Aji Wijaya said that the petition for debts restructuring had a legal formal defect and there was confusion about the legal system used.To subscribe please click here
