Creditors of Indonesia's Sritex submit about US$1.4 billion in outstanding claims

Workers at the Sri Rejeki Isman PT factory in Solo, Central Java in Indonesia. - Bloomberg

JAKARTA, June 12 (Bloomberg): Creditors of PT Sri Rejeki Isman, Indonesia’s biggest listed clothing firm, have submitted about 20 trillion rupiah (US$1.4 billion) of outstanding claims as part of a debt-restructuring process.

The claims include about 700 billion rupiah submitted by secured creditors and around 19 trillion rupiah from unsecured creditors as of June 10, according to Alfin Sulaiman, a member of an administrator team appointed by Indonesia’s Semarang commercial court. Verification is ongoing and the final amount will be released soon, Sulaiman said on Friday.