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Arpeni faces bankruptcy suit

Arpeni faces bankruptcy suit

Jakarta: Shares in Indonesian shipowner PT Arpeni Pratama Ocean Line have been suspended as it faces a bankruptcy lawsuit from Korea and misses a coupon payment on a bond issue. Arpeni, one of Indonesia's largest shipowners, is facing a bankruptcy suit from Korea Securities Finance Corp, which is suing the company in the Jakarta courts over unpaid debt repayments of $1.25m. The shipowner also missed a Rp25.15bn coupon payment on a bond issue last Friday, extending the date of the payment till 30 September. Arpeni is controlled by the Surya family who also control Berlian Laju Tankers. [21/09/10]

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