Whereas there has been legal relationship between the Petitioner of Suspension of Debt Payment Obligation, PT. Bank Permata, Tbk. with the Respondent of Suspension of Debt Payment Obligation, Otong Djalihin, related to provision of Credit Facility. On November 15, 2010, PT. Bank Permata Tbk., through Novian & Partners has filed the Petition of Suspension of Debt Payment Obligation against Otong Djalihin through Commercial Court of Central Jakarta District Court as registered No. 02/PKPU/2011/PN.Niaga.Jkt.Pst. On March 17, 2011, The Counsel of Judges Commercial Court of Central Jakarta District Court has given the Decision of Permanent Suspension of Debt Payment Obligation which stated among others: 1. Granting Petition of Permanent Suspension of Debt Payment Obligation from The Petitioner for 14 (fourteen) days as of the date of this Decision is recited; 2. Appointing Syarifuddin, SH.,MH., Commercial Judge of Central Jakarta District Court as the Supervisory Judge Ms. Titik Kiranawati Soebagyo,SH., as the administrator; 3. Provide that the trial with Counsel of Judges will be then be determined not less than14 (fourteen) days as of the date of this Decision is recited at the Commercial Court of Central Jakarta District Court. On March 31, 2011, The Counsel of Judges of Commercial Court of Central Jakarta District Court has given the Ratification of Reconciliation (Homologation), which stated among others: 1. Stating the Settlement Agreement, dated 31 March 2011, conducted by Respondent of Suspension of Debt Payment Obligation (Mr. Otong Djalihin) and its Creditors, with the administrator and the Supervisory Judge; 2. Punishing the Debtor or Respondent of Suspension of Debt Payment and all of its Creditors are subject to and abide such Ratification of Reconciliation.
