The Central Jakarta Commercial Court Has Set a Precedent by Declaring a State-Owned Company under the Status of Suspension of Payment

I. The Precedent The Commercial Court at the District Court of Central Jakarta (the Central Jakarta Commercial Court ) has declared PT Djakarta Lloyd (Persero) ( Djakarta Lloyd ), a state-owned company that engages in shipping business, under the status of suspension of payment (locally known as Penundaan Kewajiban Pembayaran Utang or PKPU ) based…

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