Sritex’s Pile of Debts Involve 14 Banks

By Editorial Team 23/04/2021
Non performing loan
Summary

More and more companies are undergoing the postponement of debt payment obligations (PKPU) proceedings due to the pandemic. Most recently, PT Bank QNB Indonesia Tbk (BKSW) filed a PKPU lawsuit against textile producer PT Sri Rejeki Isman Tbk (SRIL), Iwan Setiawan Lukminto, and SRIL's subsidiary PT Senang Kharisma Textil.

QNB registered the lawsuit at the Semarang District Court (PN) with case Number 13/Pdt.Sus-PKPU/2021/PN Niaga Smg on Tuesday (4/21). Since late last year, Sritex has continued its efforts to restructure its debt but has not succeeded. "The restructuring process in terms of syndicated loan repayment is under discussion and review with our Financial and Legal Advisor," Sritex wrote in information disclosure, Thursday (4/22).

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