23 Apr 2021
PT Sentul City Tbk's ("Sentul")’s suspension of debt payment obligation
Partners Ibrahim S. Assegaf and Eri Hertiawan from Assegaf Hamzah & Partners represented PT AEON Mall Indonesia ("AEON") as one of the creditors in the suspension of debt payment obligation of PT Sentul City Tbk's ("Sentul"). We assisted AEON in submitting its claim against Sentul, which was recognised by the management, amounting to IDR 823,074,202,322 (approx.. US$56.6 million). We were also actively involved in assisting the client in the negotiation and drafting of the composition plan, which was homologated on 15 March 2021.