September 25, 2002 9/25/02 10:05:22 AM
Govt Ready To Face Lawsuit From The Creditor of Pelindo II

Deputy of The State Minister for State Enterprises, Ferdinand Nainggolan stated that government as the major shareholder of Pelindo II wants to settle the company’s liability in reconciliation because the company is conducting debt restructuring.

“We want all creditors to join the program. However, it is all right if they want to file a lawsuit. We are ready to face them” said Ferdinand as quoted by Tempo.

Previously, creditor of Pelindo had give second statement on the US$128M liability that mature in April 2002. The company is considered to be unable to pay, so they will be filed with bankruptcy if the second statement is being neglected.