(Indotelko) – Indonesia's biggest telecommunication provider, Telkomsel finally free from bankruptcy ruling after the release of an appeal by the Supreme Court on November 21st
Telkomsel have received an official copy of the decision through Central Jakarta District Court on January 10th
VP of Investor Relations of Telkom, Agus Murdiyatno confirmed the news while doing information disclosure to the Indonesia Stock Exchange (IDX) on Monday (14/1). He stated, a copy of the decision from the Supreme Court number 704 K/Pdt.Sus/2012 was received on January 10th
He expresses, on the official letter, Supreme Court granted the appeal and overturn Commercial Court ruling, and rejected PT Prima Jaya plea for all.
The telecommunications firm, owned by Telekomunikasi Indonesia, filed an appeal with the Supreme Court after the company was declared bankrupt by the Jakarta Commercial Court on Sept. 14. The commercial court issued the ruling after finding Telkomsel guilty of failing to pay a debt obligation to plaintiff Prima Jaya Informatika.
The dispute between Telkomsel and PT Prima Jaya Informatika started since Telkomsel stopped supplying Kartu Prima prepaid SIM card since June 2012.
PT Prima Jaya Informatika as a partner filed Telkomsel bankruptcy lawsuit to the court because Telkomsel have overdue receivables for providing Kartu Prima.
Agreement PT Prima Jaya Informatika with Telkomsel signed at July 2011 in order to distribute Kartu Prima. Kartu prima was new SIM Card from Telkomsel with a design image of national athletes. Their agreement supposed to be applies for two years.
Written in the agreement, Telkomsel appointed PT Prima Jaya as a distributor of phone credit voucher and Kartu Prima prepaid SIM Card. Telkomsel have obligation to provide phone credit voucher with sport theme design at least 120 million units. Not only that, Telkomsel also required to provide prepaid SIM card in a sport theme design as much as 10 million unit per year to be sold by PT Prima.
Unfortunately, since last June, the agreement was terminated unilaterally by Telkomsel without any notification and before it ended.