The move could lead to a further delay to the 4.3bn restructuring deal agreed this month by some of APPs major creditor firms (PrintWeek, 6 November).
The case was filed by Bank Mizuho Indonesia, which acts as collateral agent for holders of notes issued by APPs Indah Kiat Finance Corporation unit.
If successful, PT Indah Kiat Pulp & Paper could lose control of two of its Indonesian paper mills.
APPs Indonesian mills, including PT Indah, Pulp & Paper, PT Pabrik Kertas Tjiwi Kimia, and Kiat PT Pindo Deli Pulp & Paper, have made Callington in Hatfield its UK representative.
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Latest comments
"Sorry to read this, a big name to go down, hopefully a lot of the £1.8M was insured. We are recruiting operational staff & currently in-talks to assist the clients with immediate requirements."
"£1.8m !! Very big numbers indeed."
"Now black really is white. Ditching a product line with all its consequences for customers is now an award winning move. Priceless!"
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