Tag: Hartika Gemilang

Sumatera Persada Energi is Bankrupt

PT Sumatera Persada Energi (SPE), the subsidiary of PT Asiabumi Petroleo is finally bankrupt after the Panel of Judges of the Commercial Court of the Central Jakarta District Court decided to accept the lawsuit to cancel the 2014 peace agreement filed by PT Bank CIMB Niaga Tbk (BNGA). SPE, however, is actually in the middle of their second PKPU process. So what does this actually mean for the Company?

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PKPU for Sumatera Persada Energi

A new lawsuit for Suspension of Debts Payments (PKPU) was filed against PT Sumatera Persada Energi (SPE), the subsidiary of PT Asiabumi Petroleo. The lawsuit is the second lawsuit for SPE in the past two years. In the first PKPU lawsuit in 2014, the oil and gas company managed to escape bankruptcy after its creditors agreed on the peace proposal offered. For this latest lawsuit, the process has begun. If the creditors can prove to the court that SPE indeed owe debts, SPE must once again undergo the process of debt restructuring.

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