Back in January 2019 we reported on two ongoing legal proceedings involving PT Bayan Resources Tbk (BYAN) and its subsidiaries. The proceedings are being examined by a court in Indonesia and a court in Singapore. The examination in Singapore is ongoing. Recently the Jakarta State Administrative High Court (PTTUN Jakarta) ruled in favor of BYAN’s subsidiaries and upheld the verdict of the Samarinda State Administrative Court (PTUN Samarinda). The problem did not end there. The Company’s other subsidiary must face a lawsuit filed by it’s labor union. There is also the force majeure problem that have forced the company to halt its operation.
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