JAKARTA – Creditors of PT Pan Brothers Tbk (PBRX) has agreed to the Singapore Scheme, a credit restructuring proposal, in the voting tabulation in Singapore earlier this week (7/12). The said restructuring follows the claim of the request of a Suspension of Debt Payment Obligation (PKPU) submitted by PT Bank Maybank Indonesia Tbk (BNII) in Singapore High Court.
Fitri Ratnasari Hartono, Director of Pan Brothers (PBRX), claimed that the informant in the said voting tabulation was Morrow Sodali Limited (MSL). “The scheme has been approved by the majority of the scheme creditors in every voting class according to the terms of the scheme,” she added in the information disclosure quoted Thursday (9/12).
As stated by MSL, the tabulation results in 95.75% of the Notes’ holders agreeing to the term sheet proposed by the company. Then, 100% of syndicated lenders, active bilateral creditors, and inactive bilateral creditors also state their agreements on the term sheet submitted by the company.
It was further mentioned that PBRX would immediately submit a request to Singapore High Court to conduct a trial over this proposed scheme. (LK/ZH)