JAKARTA - PT Humpuss Intermoda Transportasi Tbk (HITS) refused to acknowledge the bankruptcy suit filed by Linsen International Limited in the Singapore Court for not recognizing the PKPU ruling (Postponement of Debt Payment Obligations).
As quoted from the disclosure of company information, yesterday (24/1), Budi Haryono, Managing Director of PT Humpuss Intermoda Transportation Tbk (HITS) said referring to the opinion of the company's legal consultants that foreign court decisions in Indonesia are not necessarily recognized in Indonesia without an agreement. international. "The company as an Indonesian legal entity is only subject to and complies with applicable law in Indonesia," he said.
As is known, the Central Jakarta District Court Commercial Court in November 2012 has endorsed peace. After this decision, all HITS obligations were paid in 2013, except for the debt of one concurrent creditor, HST, a subsidiary of HITS in Singapore and has been liquidated in Singapore. Where this liquidation is in the form of zero coupon convertible bonds that will mature on March 3, 2033, and has been stated in the company's financial statements.
But against the PKPU ruling, the HST liquidator in Singapore did not recognize the legal process in Indonesia. Therefore it does not submit claims in the PKPU process and does not recognize PKPU decisions. In 2013, HTS liquidators filed a lawsuit against HITS in Singapore. HST was bankrupt Linsen International Limited in Singapore, where the Singapore Court appointed Cossimo Borelli and Jason Kardachi as liquidators from HST. (LK)