Dayaindo and Daya Mandiri declared bankrupt

The Commercial Court has declared PT Dayaindo Resources International Tbk and PT Daya Mandiri Resources Indonesia (DMRI) bankrupt after the companies and their creditors refused to settle their dispute through an out of the court settlement, Bisnis Indonesia reported on Thursday.

The panel of judges issued the bankruptcy verdicts against the two companies after their owners failed to meet the deadline to settle their debt payment.

Asked to comment on the court?s verdict, the director of Dayaindo Firmus Kudadiri said that he could do nothing with the court?s decision. ?Actually, there are investors showing interest to enter. But the deadline is over,? he said.

Bank Internasional Indonesia (BII) filed a bankruptcy petition against Dayaindo and DMRI for their failure to pay their debts worth Rp 90.62 billion.

The Supreme Court earlier this year decided uphold to the Jakarta Commercial Court?s recent decision to reject the bankruptcy petition filed by Swiss company SUEK AG against IDX-listed mining company PT Dayaindo Resources.

The bankruptcy appeal was filed by the Swiss company because it was not happy with the Commercial Court?s decision to reject its request to declare the company bankrupt. (*)