PT Kembang 88 Multifinance v. Creditors

The financing company PT Kembang Delapan Delapan Multifinance (Kembang 88) submitted a request for debt restructuring through the Suspension of Debts Payment (PKPU) process in January 2017. By July 2017, the PKPU process was resolved. Nevertheless, Kembang 88 continues to face problems, including lawsuit from several creditors who do not approve of the peace agreement. In addition, Kembang 88 must also face warnings from the Financial Services Authority.

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