JAKARTA: PT Garuda Indonesia faces a court ruling yesterday on a debt suspension sought by a vendor that would buy it time for a restructuring that is testing how far Indonesia’s government will go to rescue a state-owned company.
Garuda amassed US$9.8bil (RM41.3bil) in debt and judges in a Jakarta court are due to decide on the suspension of debt payments to creditors.
Already a subscriber? Log in
The Star 6.6 DEAL: 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
