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6 STEPS OF LIMITED COMPANY DEBTOR TO APPLY FOR SUSPENSION OF PAYMENTS (PKPU)

GENERAL MEETING OF SHAREHOLDERS (RUPS)

Obtain GMS’s approval (with a quorum attendance of 3/4 shares with voting rights present/represented and approved by at least 3/4 of the total shares) (article 89 UUK & PKPU);

CREDITOR APPROVAL

Obtain approval from creditors on behalf of prospective management to be proposed in PKPU (number II letter 2 SEMA No. 2 year 2016);

HAVE MORE THAN ONE CREDITOR AND ONE DUE AND COLLECTIBLE DEBT

Have more than one creditor (with debts that are due and can be collected and also not expected to be able to continue payments) (article. 222 UU UUK & PKPU);

PREPARE THE EVIDENCE

Prepare evidence documents related to the application of PKPU and to seal the documents to be used as evidence to the court;

PREPARATION OF PKPU APPLICATION

Prepare draft application for suspension of payments. In the event that the PKPU application is filed by a legal representative, the application for PKPU is signed by a lawyer and a debtor;

REGISTER THE SUSPENSION OF PAYMENT FILE TO COMMERCIAL COURT

The suspension of payment’s files are copied 11 times to be submitted to the chairman of the commercial court at the legal domicile of the applicant (Article 3 verse 5 UUK & PKPU). The proposal of PKPU shall be attached with the submission of the initial evidences.

-TSH-