Weekly Business

APP Faces Bankruptcy Threat

This is the most serious threat made by the Indonesian Bank Restructuring Agency (IBRA) and creditors against the Eka Tjipta Widjaja family: filing a bankruptcy petition against Asia Pulp & Paper (APP) Co. Ltd. The threat was made after the owners of the Sinar Mas Group failed to show their commitment in settling their debts of the company valued at US$6.7 billion.

Presently, the foreign creditors, grouped under the Expo

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