Citibank, Taipei Fubon, AHG Consider Filing Cassation Action Against Sritex Vote at Indonesia Supreme Court, Race Against 8 Day Window For Appeal; Preliminary Data Shows Around 50% of Debt Claims May Not Have Been Counted in PKPU Vote, as Allegations Fly of Rigged Vote

Lender banks Citibank N.A. Jakarta and Taipei Fubon Commercial Bank, whose votes were not included in last week’s tally which approved PT Sri Rejeki Isman Tbk’s (Sritex) contested revised composition plan - a vote which ultimately ended its in-court supervised restructuring, or PKPU - are considering filing a cassation case to the Indonesian Supreme Court which, if successful, would enter the company into bankruptcy, said four sources with knowledge.

Both Citi and the Taiwanese bank would...