Tag: Kertas Leces

Law Journal: Kertas Leces’ Bankruptcy and Riau Power Plant Graft Case

The Commercial Court of the Surabaya District Court have finally decided to grant the lawsuit filed by the former employees of PT Kertas Leces (Persero), a State-owned Enterprise (BUMN). And so PT Kertas Leces is officially bankrupt. Separately, the suspect in the case of bribery implicating the Riau Power Plant project (PLTU Riau-1) Eni Maulani Saragih continues to work with the Corruption Eradication Commission (KPK) to uncover the scheme. She had returned some of the money she received. Blackgold Natural Resources Ltd also had published several documents regarding the investigation and answered questions asked by the Singapore Stock Exchange.

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Troubled State-Owned Enterprises

PT Kertas Leces (Persero), a State-owned Enterprise (BUMN) is facing a lawsuit filed by its former employees. The former employees demanded the Surabaya District Court to cancel the peace agreement previously promulgated in 2014, because the Company never fulfilled its obligation after its PKPU. The same district court is now facilitating a similar PKPU process for PT Merpati Nusantara Airlines (Persero)—another BUMN. The next meeting of creditors is scheduled to be held in the last week of July 2018. In another case, the National Police’s Criminal Investigation Unit (Bareskrim) recently announced that they have several suspects in the case of illegal import of garlic involving PT Pertani (Persero)—also a BUMN. 

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