PT Perikanan Indonesia, a subsidiary of the state-owned enterprise (BUMN) food holding company ID FOOD, has been placed under debt payment suspension (PKPU) by the Commercial Court at the Central Jakarta District Court over the company’s inability to meet its debt obligations.

The PKPU ruling for PT Perikanan Indonesia was issued on May 16, 2024, under case No. 107/Pdt-Sus/2024/PN.Niaga.Pst. This decision adheres to Article 226 Paragraph (1) of Law No. 37/2004 on bankruptcy and debt payment suspension.

"The petition for debt payment suspension submitted by the PKPU petitioner against the PKPU respondent is granted," the company’s curator announced on May 21, 2024.

The court declared that PT Perikanan Indonesia is in a temporary debt payment suspension (PKPU-S) status for 44 days starting from the date of the decision. The court has appointed Maper Pandiangin as the supervisor of PT Perikanan Indonesia's PKPU-S.

To manage the PKPU process, the court appointed Sarmauli Simangunsong, James Peter Nico CP, Julius Paranginangin, Reza Prianda Wicaksono, and Irfan Melayu as the PKPU administrators.

During the meeting between the Administrators and the Supervisory Judge on May 20, 2024, it was decided that the deadline for submitting debt claims to the PKPU-S administrators of PT Perikanan Indonesia is June 6, 2024.

"Creditors may submit their claims via email with sufficient supporting documents or deliver them directly on working days no later than 5:00 PM WIB to the administrators," the announcement added.

The first creditors' meeting is scheduled for Tuesday, May 28. The verification of acknowledged debts will take place on Thursday, June 20. The voting on the reconciliation plan is set for Monday, June 24, at the Commercial Court at the Central Jakarta District Court.

According to the company's official website, PT Perikanan Indonesia was initially known as Perusahaan Umum Prasarana Perikanan Samudera (Perum PPS). In 1990, it was renamed Perum Perikanan Indonesia (Perum Perindo) through Government Regulation No. 9/2013.

In 2021, the government merged PT Perikanan Nusantara into PT Perikanan Indonesia, making it an official subsidiary of the ID FOOD BUMN Pangan holding in January 2022.