Jakarta – PT Sri Isman Rejeki Tbk, or Sritex, has spoken out regarding the Supreme Court‘s (Mahkamah Agung) decision that rejected the company’s cassation efforts, solidifying its legal status as bankrupt.
Sritex has announced plans to explore a judicial review in an attempt to resume operations. This development comes after the company received the court’s decision, which was issued on December 18, 2024, under number 1345K/Pdt.Sus-Pailit/2024. The decision was announced by Sritex in a public disclosure on the Indonesia Stock Exchange.
In its statement, Sritex acknowledged the Supreme Court’s decision, which denied the company’s cassation petition regarding the bankruptcy ruling issued by the Commercial Court of Semarang. The company stated, "The Supreme Court’s cassation decision essentially rejects our appeal and upholds the Commercial Court’s ruling in regards to annulling Sritex’s homologation, specifically case number 2/Pdt.Sus-Homologasi/2024/PN."
Sritex’s management is now exploring judicial review options and will attempt to secure a going concern decision from the Commercial Court, based at the District Court of Semarang. This move aims to keep the company’s operations running while adhering to any applicable regulations.
Initially declared bankrupt by the Commercial Court of Semarang last October, Sritex was sued by one of its creditors, PT Indo Bharat (IBR). The company subsequently filed a cassation appeal, which was unsuccessful.
Wakil Menteri Ketenagakerjaan (Wamenaker) Immanuel Ebenezer, also known as Noel, has suggested that external interference may have played a role in Sritex’s bankruptcy process.
"Noel speculates that ‘sinister forces’ might have been manipulating the process," according to sources. However, when asked to specify who these forces were, Noel declined to comment, saying only that further developments would shed light on the matter.
Meanwhile, Noel reaffirmed President Prabowo Subianto‘s commitment to preventing any layoffs among Sritex’s employees. "The president’s stance remains clear: no dismissals," emphasized Noel.
As Sritex navigates this complex legal landscape, readers eagerly await further developments in this high-profile case.
