Sejahtera Bersama Cooperative's Debt Reaches Rp8.87 Trillion; How Many Creditors Are There?

Sejahtera Bersama Savings and Loan Cooperative (KSP Sejahtera Bersama) is one of the cooperatives declared problematic by the Ministry of Cooperatives and Small and Medium Enterprises (Kemenkop UKM).

In August 2020, the court ruled that KSP Sejahtera Bersama was in a Suspension of Debt Payment Obligation (PKPU) due to its failure to repay debts to several creditors.

Then, in November 2020, their PKPU status ended thanks to homologation, a peace agreement with creditors ratified by the Commercial Court of the Central Jakarta District Court (PN) through Decision Number 238/Pdt.Sus/PKPU/2020/PN.Niaga.Jkt.Pst.

Based on the court's decision, KSP Sejahtera Bersama has 58,825 recognized concurrent creditors, with a total debt claim of approximately Rp8.87 trillion.

In that decision, KSP Sejahtera Bersama stated it would repay all its creditors' money in 10 installments, from July 2021 to December 2025.

However, many creditors are currently complaining that KSP Sejahtera Bersama is not paying its debts as stipulated.

According to the scheme in the court's decision, KSP Sejahtera Bersama should have paid the fourth installment in January 2023. However, some creditors claim they have not received this payment.

"Currently, some members have received three payments, some two, and some have not received any at all," said Totok Supriyanto, one of KSP Sejahtera Bersama's creditors, as reported by *KBR.id* on Monday (30/1/2023).

Besides KSP Sejahtera Bersama, seven other cooperatives have encountered similar problems: KSP Indosurya, KSP Pracico Inti Sejahtera, KSP Pracico Inti Utama Syariah Financing, KSP Intidana, Jasa Wahana Berkah Sentosa Cooperative, KSP Lima Garuda, and KSP Timur Pratama Indonesia.

Coordinating Minister for Political, Legal, and Security Affairs Mahfud MD stated that the government intends to improve regulations to prevent this problem from recurring.

"We will propose a revision of the Cooperative Law so that fraud under the guise of cooperatives can be immediately ended and prevented in the future," said Mahfud, as reported by *Detik.com* on Friday (26/1/2023).