APINDO seeks extension of loan restructuring program, moratorium on bankruptcy petitions – Jakarta Post

The Indonesian Employers Association (APINDO) is in talks with the government and the Financial Services Authority (OJK) to propose a three-year extension for debt postponement petition (PKPU) and bankruptcy lawsuits as well as the loan restructuring program, as some businesses may need more time to recover.

APINDO chairman Hariyadi Sukamdani said the business group had discussed the plan with the Legal Administration Directorate General of the Law and Human Rights Ministry, hoping for a government regulation on such a moratorium as soon as possible.

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