Sritex to Pursue Judicial Review After Supreme Court Rejects Cassation

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December 20, 2024 | 06:44 pm

TEMPO.CO, Sukoharjo - Publicly-listed textile company PT Sri Rejeki Isman Tbk. (Sritex) President Director Iwan Kurniawan Lukminto has stated the company's respect for the Supreme Court's (MA) decision to reject its cassation application regarding the bankruptcy ruling issued by the Semarang Commercial Court. However, Sritex will pursue further legal action by filing a Judicial Review.

The cassation rejection, under Case Number: 1345 K/PDT.SUS-BANKED 2024, was delivered by Chief Justice Hamdi and Supreme Court Justices Nani Indrawati and Lucas Prakoso on Wednesday, December 18, 2024.

“We respect the Supreme Court's decision,” said Iwan Kurniawan, as quoted from a press release received on Friday, December 20, 2024.

Following internal consolidation, Wawan said that Sritex has decided to pursue a Judicial Review. The company hopes this action will allow it to maintain business continuity.

“We are taking this legal action so that we can maintain business continuity and provide jobs for 50,000 employees who have worked with us for decades,” he stated.

He emphasized that this legal recourse is being pursued not only for the company's benefit but also to represent the interests of the entire Sritex workforce.

Throughout the cassation process at the Supreme Court, Sritex has made efforts to sustain its operations and avoid employee layoffs, in accordance with the government's recommendations.

“We are trying our best to maintain the company's situation so that it remains conducive, amidst various limitations of movement due to our bankruptcy status,” he explained.

Wawan acknowledged the challenges involved in these efforts, including time constraints and limited resources.

“We make the choice to take further legal action in the form of judicial review so that the Sritex family can continue to work, survive, and support their families amid the difficult economic situation,” he added.

He hoped that the government would provide legal justice that considers humanitarian factors by supporting the company's efforts to continue operations and contribute to the advancement of the national textile industry.

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