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Promise to pay off debt, Orpheus unplug lawsuit
By Sinar Princess S.Utami - Monday, June 1st, 2015 | 11:33 pm

JAKARTA. Nugroho Suksmanto property entrepreneurs can finally breathe easily. This is because of a lawsuit filed bankruptcy revoked Orpheus Energy Group. Such decision was taken because the two parties have reached an agreement reconciled.

"It has been removed and there is peace," said Nugroho to KONTAN, Friday (29/5). He added that the Chief Judge Jamaluddin Samosir also have received the peace agreement on May 22, 2015 last.

Nugroho said, in a peace agreement, he will pay off the debt of PT Mega Coal International (MCI) which is guaranteed for 18 months in installments.

Source of funding debt payments derived from the coal mine in South Kalimantan, namely in Tanah Laut, Paser Regency Grogot, Paser Regency Penajam, and Waropen.

However, if the mine is not able to pay half the bill, then Nugroho will sell personal assets. For example, an area of six hectares (ha) in New Jatinegara predicted worth Rp 40 billion.

The payment will begin in July 2015. He is confident that it can repay its obligations between Rp 3 billion and Rp 5 billion per month.

To give a sense of security to Orpheus, Nugroho also provide additional collateral in the form of a 10.5% stake in PT Abadi Guna Board. Just so you know, the company is known to have a number of assets in the Mega Kuningan area.

The value of these shares was estimated at two-fold compared to total liabilities of MCI were Nugroho guarantee. Just so you know, the obligation to be paid after the restructuring amounting to Rp 70 billion

Outside of the agreement, Nugroho wants a letter of appology to fix its name after a number of news her bankruptcy petition. Orpheus is claimed is prepared to meet that demand.