JAKARTA – PT PP Properti Tbk (PPRO) has resolved a Debt Payment Obligation (PKPU) lawsuit filed by its creditors through a peace agreement (homologation) ratified by the Commercial Court at the Central Jakarta District Court.

Andek Prabowo, President Director of PPRO, stated that the PKPU status against the company was revoked by the Central Jakarta District Court following the homologation agreement.

During the hearing, the PKPU Administrators of PPRO reached a homologation agreement with the creditors. The breakdown showed that 100% of the secured creditors, representing claims of IDR 3.8 trillion, agreed, while 90% of the concurrent creditors, representing claims of IDR 10.35 trillion, also gave their approval.

"The company's operational activities continue as usual," said Andek, quoted on Wednesday (19/2).

Andek added that PPRO remains committed to optimising performance by prioritising good governance and adhering to applicable laws. (LK/KR/ZH)