Textile company Sritex was declared bankrupt by the court. However, Sritex employees are still working in the factory.
PT Indo Bharat Rayon is a debtor of four textile companies, namely PT Sri Rejeki Isman (Sritex), PT Sinar Pantja Djaja, PR Bitratex Industries, and PT Primayudha Mandirijaya.
The company submitted a request to the Class 1A Special District Court (PN) of Semarang to grant the request for the annulment of the settlement that had previously been decided through a homologation decision.
PT Indo Bharat Rayon demanded the cancellation of the peace agreement because the four companies were deemed negligent in fulfilling their debt payment obligations.
When asked about the contents of the peace agreement, Haruno admitted that he…