Landmark decision lets Sritex curators investigate Singapore assets and potentially strengthen creditor recoveries.
A Singapore court decision involving collapsed Indonesian textile giant Sritex could give creditors and insolvency administrators a clearer route to pursue assets linked to bankrupt Indonesian companies in Singapore.
Singapore Recognizes Sritex Bankruptcy
The Singapore International Commercial Court (SICC) recognized the Indonesian bankruptcy proceedings involving PT Sri Rejeki Isman Tbk, known as Sritex, and three related companies as foreign main proceedings under Singapore’s adoption of the UNCITRAL Model Law on Cross-Border Insolvency. The decision, issued on August 26, 2026, allows Sritex’s Indonesian curators to…