Discover TPI bulging Bonds worth USD $ 1.6 Trillion
Portfolio January 8th, 2010
The power law of PT Cipta Televisi Pendidikan Indonesia (TPI) has found new evidence in the form of rupiah-denominated bonds and bulging U.S. dollars signed by the old management with a total value of Rp 1.6 trillion.
“The value is quite large, amounting to U.S. $ 170 million and Rp 45 billion,” said Attorney Moses Grafi of TPI Marthen Pongrekun and Assosiated, in a press release, Sunday (24.1.2010).
Moses explained, bonds consist of 170 pieces of mail each worth U.S. $ 1 million and 45 pieces of mail each worth Rp 1 billion. Assuming the exchange rate USD 9200 per dollar, the total value of bonds is bulging around Rp 1.6 trillion.
“The old management of the sign and extent of TPI does not get the result at all,” he said.
In addition, the TPI has the legal authority to enter or register the contract review memory (PK) of new TPI to the Central Jakarta Commercial Court today. “On the new findings, we have reported to the high court. It has just finished from there,” he explained.
The bulging securities, continued Moses, found in the files that slipped in the rest of the files remaining TPI management. “This file is found in the safe, after it emerged bankruptcy decision. So approximately between the months of November to December and then, this new evidence,” he explained.
Meanwhile, Moses says as many as five new lenders have entered the PK memory counter to Supreme Court (MA) through the Commercial Court Central Jakarta District Court.
All five companies that filed the counter-memory of PT Media Nusantara Citra Tbk (MNCN), PT Citra Prima Creative Reka, PT Focus Bali Internusa, PT Orange Audio Visual, and PT Anka Enterprise. “In addition to TPI, there are five other creditors,” he concluded.
Earlier Supreme Court panel of judges comprising the Chairman of the Panel Mappong Abdul Kadir, and two members Zaharuddin Home and Hatta Ali, related bankruptcy case granted PT Cipta TPI appeal from PT Cipta TPI on December 15, 2009 then.
In pertimbangnnya, Panel of Judges stated that the bankruptcy decision that had been severed by the District Court of Central Jakarta Commercial was not simple, while in principle in accordance with the provisions of the Bankruptcy Act that in handling bankruptcy cases should be simple proof. Thus, the decision of bankruptcy TPI canceled and no longer valid behavior
