Indonesia’s Meikarta Project Builder Reaches Deal With Creditors

Mahkota Sentosa Utama, the developer of Lippo Cikarang’s Meikarta township project, has reached a debt settlement agreement with its creditors, according to a statement.

• More than 99% of Mahkota’s creditors voted in favor of its debt settlement proposal, Mahkota says in statement filed to stock exchange on Tuesday
• Mahkota and creditors signed the settlement agreement on Dec. 15
• NOTE: Graha Megah Tritunggal, one of Mahkota’s vendors, filed a petition to Central Jakarta district court on Oct. 6 to suspend Mahkota’s debt as part of the settlement process

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