PT Pertamina EP (PEP), a subsidiary of PT Pertamina (Persero), and PT Bank Mandiri (Persero) Tbk filed for a lawsuit at the Central Jakarta District Court to cancel the decision of the Indonesian National Arbitration Board (BANI). The BANI decision that’s the subject of this dispute is the decision that punished the two plaintiffs with the order to compensate their partners in the amount of US$19.3 million and the order to restore performance bond worth US$12.7 million. The two plaintiffs has since argued that the BANI decision does not have binding legal force because the partners are the ones who are in default.To subscribe please click here
