Bankruptcy Decision against PT Arifindo Grha Pratama – The Falatehan Hotel Developer

Jakarta –

On February 22, 2023 the Commercial Court at the Central Jakarta District Court handed down a bankruptcy decision to PT Arifindo Grha Pratama (PT AGP) as the developer The Falatehan Hotel. This is stated in the Decision Number: 219/Pdt.Sus-PKPU/2022/PN Niaga Jkt.Pst.

PT AGP through its attorney from law firm Peter Kurniawan, SH. & Partners is currently pursuing cassation at the Supreme Court of the Republic of Indonesia to annul the PKPU Decision and the Rejection of Endorsement of the Settlement.

It is known that initially PT AGP had a debt to PT. Bank Jtrust Indonesia, Tbk. (JTrust Bank) Rp. 107,403,524,836,- (principal debt). The fact is that PT AGP has no debt to any party other than JTrust Bank.

Around 2020, PT AGP experienced financial difficulties due to the impact of the Covid-19 pandemic which hit its businesses engaged in the hospitality sector. This resulted in PT. AGP experienced difficulties in paying debts to Bank JTrust, so PT. AGP to Bank JTrust restructured.

However, in the midst of the restructuring process, when PT AGP was struggling to overcome the problem of the financial condition, Bank JTrust suddenly executed the collateral for The Falatehan hotel owned by Mrs. Umamah and The Safin Hotel owned by Saiful Arifin, when the restructuring effort was underway.

“So that a Civil Lawsuit occurred between PT AGP and Bank JTrust at the Central Jakarta District Court, as in Lawsuit No. 677/Pdt.G/2021/PN.Jkt.Pst. November 3, 2021,” wrote the attorney for PT. AGP Muh Abdillah Fadlyansyah from Lawfirm Peter Kurniawan & Partners in a written statement, Saturday (29/4/2023).

However, when the lawsuit was taking place, Bank JTrust suddenly on January 31, 2022 split the bill to PT AGP by way of Cessie for some of the interest on the loan. The amount is Rp 3 billion to PT. JTRUST INVESTMENT INDONESIA, which is still an affiliated company group.

Then Bank JTrust filed a PKPU lawsuit against PT AGP at the Central Jakarta Commercial Court, even though PT AGP was trying to recover from the slump due to the impact of the Covid-19 pandemic which hit the hotel business, and the hotel business of PT. AGP has started to recover and bounce back.

“The cessie that was carried out by Bank JTrust was to split a portion of PT AGP’s bills, and this was allegedly done in bad faith aiming to meet the minimum number of creditors (there are 2 creditors) to be able to apply for a PKPU, and this shows that this PKPU was deliberately created as a entrance to bankruptcy PT AGP,” said Abdillah.

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