It has been a while since the last time we reported on the dispute over the loan agreement provided by a syndicate of banks led by PT Bank PDFCI to PT Geria Wijaya Prestige (controlled by the Karjadi family). The agreement turned into a complicated maze of legal battles in both civil and criminal realms. It has produced dozens of conflicting court verdicts. Two of the Karjadi brothers were named suspects in a criminal case for allegedly committing fraud as a result of a police report submitted by Artha Graha patron Tomy Winata. They were found guilty on January 22, 2020, only to be released several months later by the High Court. Recently we learned that the Supreme Court had overturned the High Court’s decision, and one of the Karjadi brothers said they would file a Reconsideration.

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