PT Esa Kertas Nusantara and Disputes

Soenarjo Sampoerna, Boedi Sampoerna’s son, founded PT Esa Kertas Nusantara (EKN) in 2004, but five years after the Company’s establishment, a debt dispute emerged, and a complex derivative transactions plunge the Company into a prolonged problems. In 2013, the shareholders decided to sell the Company to PT Pindo Deli Pulp & Paper Mills, a subsidiary of Asia Pulp & Paper (APP) owned by the Sinar Mas Group. After that, we stopped hearing news of EKN’s woes. Last week, one Iswanto Browo, who was one of EKN’s shareholder, filed a tort lawsuit against ten parties, including the directors and shareholders of Pindo Deli, related to the sale of EKN.

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