JAKARTA — PT Selaras Kausa Busana went bankrupt after the garment manufacturer failed to go through the process of Delaying Debt Payment Obligations via court.
The period of PKPU SKB began when PT Vicky Expressindo applied for PKPU against SKB to the Central Jakarta Commercial Court with case No. 30/Pdt.Sus-PKPU/2019/PN Niaga Jkt.Pst on February 8, 2019. Vicky Expressindo collects debts worth more than Rp1 billion that have been due and can be billed.
After applying for PKPU and accepted by the court, the panel of judges then carried out the agendas of the trial until the verdict that skb proved to have debts so that it must be restructured debt on an interim basis.
Attorney General Anggi Putra Kusuma objected to the court’s ruling because his client was being kind and still willing to pay debts to creditors.
The financial condition of the company that is in debt, undoubtedly makes the company not only difficult to pay debts to its vendors but to employees as many as 4,000 people. Approximately rp12 billion in total for salaries of employees have not been paid by SKB for 3-4 months before the pkpu was submitted.
In the process of Temporary PKPU, SKB was given the opportunity to submit a peace proposal. Until the time before the vote on April 30, 2019, SKB still did not submit a proposal for leniency to the board.
The administrators appointed by the panel of judges to implement pkpu SKB are Sexio Yuni Noor Sidwi, Alberto Siregar, and Peber E. W. Please go with it.
Sexio said debtors had been given an additional 14 days but in addition to not providing peace proposals, they were also not present on the voting agenda.
The determination agenda was implemented, as many as 3 concurrent creditors wanted to give the opportunity to the SKB to undergo a permanent PKPU but other creditors, namely separatist creditors and other concurrent creditors refused to make peace. So the requirement of 2/3 of the concurrent bill is not met and leads to bankruptcy.
During debt verification, the company’s bill with some directors from South Korea reached Rp123.36 billion spread across separatist, concurrent and preferential creditors. The owner of the separatist receivables bill is KEB Hana Indonesia as much as Rp20.36 billion.
Concurrent receivables bills of 14 creditors reached Rp15.57 billion. The concurrent creditors are Yuliana Situmorang, PT Wings Global Logistics, PT Sahassa Prima Niaga, Jong UK Lee, PT Dongju Raya Indonesia, PT Tae Jong Indonesia, PT Obor Setia Indah.
Furthermore, other concurrent creditors are PT Vicky Expressindo,Jean Paiaman Manurung, PT Bosung Indonesia, PT Gaya Makmur Indonesia, Jauhari, A Freddy H. Manurung and Sri Rahayu.
Meanwhile, there are 4 creditors with bills reaching Rp87.42 billion from the tax office, the Bekasi National Workers Union and fifteen non-union workers.
The panel of judges formally read the decision of The Insolvent Kausa Busana on May 6, 2020.
After being declared bankrupt, the board of PKPU was reappointed by the panel of judges to be the curator of SKB. The task of the curator is to explore the assets of SKB and sell them to be paid to the creditors.
From the curator’s search, SKB’s assets include 6,000 square meters of land in Bojong Menteng and a certificate worth RP67.63 billion. Buildings include guard posts, custom customs, factories, canteens, chemical warehouses, generator houses, boiler houses, archive warehouses, washing warehouses, administrative offices, laboratories, employee case, raw material warehouses, small warehouses, and labor administration posts reaching Rp7.42 billion.
There is an apartment in Cilandak, accessories and clothes worth Rp3.18 billion covering an area of 150 meters. Sexio said the assets have been auctioned but have not been sold until today, Tuesday (4/21/2020).
It conducted another auction for the second time and included new assets for the first auction, namely raw materials, scrab and so on entered the first auction stage.
“It was the second auction on March 5, 2020. Whereas already the lower price limit of the direct market value with the liquidation price. Liquidation value is the market price that has been discounted,” sexio said. (Bisnis Indonesia)