JAKARTA – PT Pelangi Indah Canindo Tbk (PICO) faced a lawsuit regarding the Suspension of Debt Payment (PKPU) of IDR 887.91 million against an apartment unit owner. PICO built the said apartment building with the help of PT Indoserena Dwimakmur (ID) as the developer. This news was revealed by Ko Dandy, the President Director of PICO, through the information disclosure quoted on Thursday (22/4).
It was stated that the case began with the customer’s request for a refund over the apartment unit purchase in Jati Uwung, Tangerang, due to the delayed building construction. “PICO has provided the land to ID as the developer, which was arranged in a joint operation agreement,” Dandy claimed.
According to Dandy’s words, the joint operation contract between PICO and ID has been terminated because ID, as the developer, failed to complete the apartment construction within the agreed timeline. “The first court session would be on Thursday (22/4), and the company would turn down the PKPU request,” he continued. (LK/ZH)