KONTAN.CO.ID - JAKARTA. The Process of Delaying Debt Payment Obligations (PKPU) PT Merpati Nusantara Airlines ends with a smile. On Wednesday (11/14), the Judges of the Surabaya Commercial Court finally passed a peace plan or declared homologation for Merpati.

"The panel of judges has issued a ruling and ratified the Merpati peace. The management team was grateful that the PKPU process ended peacefully," said PKPU Merpati Management Alfin Sulaiman when contacted by Kontan.co.id on Wednesday (11/14).

Alfin explained, the panel of judges accepted the recommendations from the management and supervisory judges to declare homologation for Merpati. Even though in the peace plan voting, Merpati did not reach the conditions for peace.

For your information, the total value of Merpati's bill in PKPU is Rp 10.95 trillion. The details consist of preferential creditors (priority) worth Rp 1.09 trillion, concurrently valued at Rp 5.99 trillion, and separatists Rp 3.87 trillion. The parties that have separatist bills are Ministry of Finance (Ministry of Finance) worth Rp 2.66 trillion, PT Bank Mandiri Tbk (BMRI) worth Rp 254.08 billion, and PT Asset Management Company worth Rp 964.98 billion.

The Ministry of Finance whose bill reached 68.73% of separatist bills rejected the peace plan. On the other hand, Merpati needs 51% of the vote to achieve peace.

"In its consideration, the panel of judges said that the Ministry of Finance could implement the option Article 281 paragraph (2) of Law 37/2004 concerning Bankruptcy and PKPU," continued Alfin.

The article states that separatist creditors who refuse to reconcile can get compensation at the lowest value between the collateral value or the actual value of the loan which is directly guaranteed by collateral rights over the material. (Translator: Barratut Taqiyyah Rafie)

Editor: Barratut Taqiyyah Rafie