# Tri Polyta

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{{Short description|Indonesian chemical manufacturer}}
{{Multiple issues|
{{update|date=July 2013}}
{{generalize|date=July 2013}}
{{More citations needed|date=March 2026}}
}}

{{Infobox company
| industry = [Chemical manufacturing](/source/Chemical_manufacturing)
| former_name = PT Tri Polyta Indonesia Tbk
| location_country = Indonesia
}}

'''Tri Polyta''' is an insolvent Indonesian chemicals manufacturer which has acquired notoriety in Indonesian investment circles because of its default on a large 1996 [bond issue](/source/bond_issue) and its success in persuading a court in Indonesia to protect it from the enforcement of its bond obligations.

Tri Polyta (formally ''PT Tri Polyta Indonesia Tbk'') brought a lawsuit in the district court of [Serang](/source/Serang), naming ninety-seven defendants, including AIM Capital Management, Houston, Texas; [Cargill Financial Services](/source/Cargill) Corp., Minnetonka, Minn.; Invista Capital Management, Des Moines, Iowa; [BNP Paribas Asset Management](/source/BNP_Paribas), New York; [Oaktree Capital Management](/source/Oaktree_Capital_Management), Los Angeles, Calif.; [Cerberus Capital Management](/source/Cerberus_Capital_Management), New York; [Euroclear](/source/Euroclear), Brussels, Belgium, and Millennium Partners, New York. It argued that it had been induced by the actions of the defendants into entering into an [underwriting](/source/underwriting) agreement that was fraudulent under Indonesian law.

The court agreed in May 2004, freeing Tri Polyta of the obligation to repay US$185 million in principal, as well as close to US$119 million in interest. The creditors were appealing.

In 2011, [Prajogo Pangestu](/source/Prajogo_Pangestu) acquired Tri Polyta.<ref>{{cite web |title=Indonesian Billionaire Who Increased Wealth Tenfold... Chairman Prajogo Worth '71 Trillion Won' |url=https://www.asiae.co.kr/en/article/2023121114474456872 |website=The Asia Business Daily |language=en |date=11 December 2023}}</ref>

==References==
{{Reflist}}

Category:Chemical companies of Indonesia

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Adapted from the Wikipedia article [Tri Polyta](https://en.wikipedia.org/wiki/Tri_Polyta) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Tri_Polyta?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.