Tag: SNP Finance

More on SNP Finance’s Case

Last week the National Police’s Criminal Investigation Unit held a press conference to announce that PT Sunprima Nusantara Pembiayaan (SNP Finance)—who is now in their period of Suspension of Debts Payment (PKPU)—and its officials were involved in a huge “break-in” scheme. As many as 14 banks had fallen victims. The board of directors of the Company were named suspects and immediately detained. Three individuals were named fugitives, including one Leo Chandra, the founder of Columbia group. Leo Chandra turned himself in three days after the announcement, on the evening of September 27, 2018.

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New Problem for SNP Finance

PT Sunprima Nusantara Pembiayaan (SNP Finance) who are now in their period of Suspension of Debts Payment (PKPU), presented the options for debts payments to their creditors with the help of a new public accountant last month. This was supposed to be a good sign of what was to come, but the latest development in this drama suggests that show is far from over. Last week in the latest meeting of creditors, the Company’s representatives said that the police had detained the Company’s board of directors. On September 24, 2018, the National Police’s Criminal Investigation Unit held a press conference and relayed the surprising news that the Company’s officials were allegedly involved in a huge “break-in” scheme.

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More on SNP Finance’s PKPU

After so many ordeals, PT Sunprima Nusantara Pembiayaan (SNP Finance) who is now in their period of Suspension of Debts Payment (PKPU), presented the options for debts payment to the creditors with the help of new public accountant. Related to the Company’s problems, the Ministry of Finance had reportedly sanctioned their previous public accountant Deloitte Indonesia.

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On SNP Finance’s PKPU: Deloitte Indonesia

PT Sunprima Nusantara Pembiayaan (SNP Finance) who is now in their period of Suspension of Debts Payment (PKPU) is still struggling to convince their creditors. Because of the complicated situation, the team of administrators decided to change the financial consultant to examine the Company’s condition. The administrators also asked the creditors from banking sectors to hand-over information on the Company’s account in the banks. In addition to that, Deloitte Indonesia (who supposedly played a crucial role in the case) recently gave written explanations to national media outlets explaining their perspective.

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Update on SNP Finance’s PKPU

PT Sunprima Nusantara Pembiayaan (SNP Finance) who is now in their period of Suspension of Debts Payment (PKPU) once again submitted their peace proposal to the creditors. But not much has changed that the creditors are still unsatisfied with what they’ve been presented. Meanwhile, the Ministry of Finance have finished examining Deloitte Indonesia (who supposedly played a crucial role in the case) and is preparing sanctions for the firm.

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Law Journal

PT Sunprima Nusantara Pembiayaan (SNP Finance) who is now in their period of Suspension of Debts Payment (PKPU) recently submitted their peace proposal to the creditors. The Company listed the debts payment scheme to be made...

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Problems around SNP Finance

The sudden downfall of PT Sunprima Nusantara Pembiayaan (SNP Finance), controlled by the Columbia Group, surprised a lot of parties. It caused confusion because before the problems were made known to the public, the Company’s partners believed that it was in good condition as per the financial report arranged with supervision from a well-known independent public accountant. After the problems were revealed to the public, the Financial Service Authority (OJK) suspended the Company’s operational license. Its creditors are now waiting for the Company to restructure its debts. Troubles loom as several parties are reportedly keen on taking other legal steps.

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