Duniatex Group, one of the largest textile manufacturers in the country is in the process of Delaying Debt Repayment Obligations on September 30, 2019.
Pkpu’s shackled subsidiaries include T Delta Merlin Dunia Textile, PT Delta Dunia Tekstil, PT Delta Merlin Sandang Tekstil, PT Delta Dunia Sandang Tekstil, PT Dunia Setia Sandang Asli Tekstil and PT Perusahaan Dagang dan Industrian Damai.
PKPU applicant is PT Shine Golden Bridge with case No. 22/Pdt.Sus-PKPU/2019/PN Niaga Smg on September 11, 2019 to collect receivables of US$260 million and loan interest of Rp13.4 million.
The panel of judges granted the application for PKPU Shine Golden Bridge so that Duniatex Group must face PKPU or have to restructure its debt for a maximum of 270 days.
In the course of time with the receivables verification agenda, 6 Duniatex companies have total debt worth Rp23.37 trillion including debt to 58 separatist creditors as much as Rp22.73 trillion and debt to 86 creditors as much as Rp641.06 billion.
Duniatex Group’s attorney Aji Wijaya said he was optimistic that his client could go through the period of debt restructuring smoothly so that in the future it could complete payments to creditors.
Read: Duniatex Makes Masks
“Yes we are optimistic about peace because this debtor industry is running well, the company is still going concern. It doesn’t stop,” Aji told me on Tuesday (11/12/2019). (Bisnis Indonesia)