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Escaping Creditors

Wednesday, July 20, 2011

PT Kertas Nusantara is mired in serious debts. The pulp company owned by Prabowo Subianto and Arifin Panigoro is discussing debt restructuring. Its fate is in the hands of creditors.

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THE Balairung Hotel Alila in Central Jakarta on Thursday morning of last week looked no different than a courtroom. Presiding judge Marsudi Nainggolan was sitting in the center, in front of a long table. He was flanked by caretaker (curator) Duma Hutapea and his assistant as well as a court clerk. Before them were dozens of lawyers representing the interests of PT Kertas Nusantara’s creditors. CEO of Kertas Nusantara, Wilson Pola and his legal

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