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Jakarta Post

Customers file bankruptcy petition for reclamation project developer

News Desk (The Jakarta Post)
Jakarta
Tue, April 10, 2018

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Customers file bankruptcy petition for reclamation project developer Islet G in Jakarta Bay as seen from the shore on Sept. 1, 2016. (JP/Seto Wardhana.)

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bankruptcy petition against a subsidiary of property giant Agung Sedayu Group, PT Kapuk Naga Indah (KNI), has been filed by two of its customers, identified only as NSW and LA, who have purchased apartment units in the controversial reclamation project in Jakarta Bay.

"The petition was submitted today to the Central Jakarta Administrative Court," said the customers' lawyer Khresna Guntarto on Monday, as quoted by kontan.co.id.

Khresna added that NSW had purchased a 160-square-meter “Violin” unit, while LA had bought a 295-square-meter “Concerto Beach” unit.

The Violin unit should have been completed and handed over to NSW by Feb. 28, while LA’s property should have been ready on Nov. 30 last year.

Both of them had paid for the units, Khresna said; NSW had paid Rp 2.73 billion (US$199,000) and LA Rp 4.5 billion.

"However, they haven't got the units until now. There have been payments and the due dates [of the property handover] have passed. So we’ve filed the bankruptcy petition [against the company]," he said.

Besides his clients, Khresna added that two other buyers of Golf Island units were involved in the wind-up petition, identified only as RA who deposited Rp 3.83 billion, and IN who paid Rp 3.43 billion.

The apartment units’ development has been hampered because they were to be built on the reclaimed land of which has been halted by the Jakarta administration.

In January, Jakarta Governor Anies Baswedan sent a letter to the Agrarian and Spatial Planning Ministry to revoke right-to-build (HGB) permits that had been obtained by PT KNI, the developer of islets C and D in the reclamation project.

Meanwhile, PT KNI lawyer Kresna Wasedanto refused to comment on the bankruptcy petition. (wnd)

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