*Indah Kiat (TRADING BUY): Resolution of dispute with Gramercy* · Asia Pulp & Paper (APP) issued a press release announcing that PT Indah Kiat Pulp & Paper Tbk., PT Lontar Papyrus Pulp & Paper Industry, Asia Pulp & Paper Company Ltd. (along with certain affiliates, the “*APP Entities *”) and certain funds managed by Gramercy Advisors L.L.C. (“*Gramercy*”) today announced that they had agreed to a full and final global resolution of all litigation and disputes outstanding between them.
- Gramercy has sold all of its positions in the notes issued by the APP Entities. The resolution agreements come as a result of this sale to a third-party, and they cover all disputes and differences that have previously arisen between the APP Entities and Gramercy, including the immediate cessation of all litigation and enforcement actions between the APP Entities and Gramercy in Indonesia, the United States and Singapore. - Previously, Gramercy was among a few creditors which did not sign the Master Restructuring Agreement with APP in 2004. - The above news is expected to further sustain positive sentiment on Indah Kiat which just reported strong FY08 results showing 120% net profit growth (to US$202m) on the back of 21% revenue growth. - The stock warrants a TRADING BUY. Katarina Setiawan ksetia...@kimeng.co.id Q: Cumi-cumi mempunyai delapan kaki atau delapan tangan? 2009/5/11 M Herman <hermanlat...@yahoo.com> > > > *Jakarta* - Penyelesaian restrukturisasi utang grup Asia Pulp and Paper > (APP) terhadap pemegang obligasinya mengalami kiemajuan. Salah satu > kreditornya Gramercy Advisors LLC yang selama ini menolak menandatangani > kesepakatan restrukturisasi akhirnya bersedia menyelesaikan kasus ini di > luar hukum. > > Grup usaha APP yakni PT Indah Kiat Pulp & Paper Tbk, PT Lontar Papyrus Pulp > & Paper Industry, Asia Pulp & Paper Company Ltd dan beberapa unit usaha lain > yang berada dibawah pengawasan Gramercy Advisors LLC (Gramercy) telah > mengumumkan bahwa mereka sepakat untuk mencapai kesepakatan akhir atas > segala perselisihan hukum yang terjadi di antara mereka pada 8 Mei 2009. > > Demikian penjelasan Corporate Secretary PT Indah Kiat Pulp & Paper Tbk, > Agustian R Partawijaya dalam keterbukaan informasi di Bursa Efek Indonesia, > Jakarta, Senin (11/5/2009). > > > > > >
