Last week, the Supreme Court declared PT Gunung Agung bankrupt. Ironically, the Supreme Court verdict was handed down in response to a bankruptcy lawsuit filed by Putra Masagung, son of the now bankrupt company's founder, Haji Masagung.

According to Putra Masagung's attorney, Siti Zaitin Noor, PT Toko Gunung Agung Tbk. (TOGA) and Putra Masagung filed a joint bankruptcy lawsuit against PT Gunung Agung following the company's refusal to settle it