Neck-Deep in Lawsuits
Companies listed at the Indonesia Stock Exchange, including state-owned enterprises, are dragged into lawsuits for delaying debt repayment and bankruptcy due to their thinning pockets during the pandemic.
Aisha Shaidra
September 13, 2021
TURBULENCE is rattling Garuda Indonesia. Not yet finished with the trial for the debt payment postponement (PKPU) filed by a number of creditors, the listed state-owned airline was declared defeated at the London Court of International Arbitration (LCIA) on September 6.
The management of GIAA—Garuda’s code at the Indonesia Stock Exchange—is currently consulting with a team of attorneys. “To consider the steps the company
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