Tag: MCOR

On MCOR’s Cessie Dispute: Pre-Trial Lawsuit

by | Sep 14, 2018 | | 0

Within the past two months, several events happened in relation to the disputes over the debt-claiming rights (cessie) involving PT Geria Wijaya Prestige (GWP) and PT Bank China Construction Bank Indonesia Tbk (MCOR). After Tomy Winata entered the dispute earlier this year, making it even more complicated than it already was, Hartono Karjadi was named a suspect by the Bali regional police in July 2018. After that, Fireworks Ventures Limited filed a police report in Jakarta against the board of directors of MCOR. Recently, Hartono filed a pre-trial lawsuit at the South Jakarta District Court against the Chief of the National Police and the Head of the Specific Criminal Investigation Directorate of the Bali regional police. The trial is ongoing and is expected to be completed next week.

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Law Journal: On MCOR’s Cessie Dispute and PKPU for Alvindo Wahana Trading

by | Aug 7, 2018 | , | 0

After news broke that Tomy Winata had filed a police report against Hartono Karjadi in Bali, news emerged that Fireworks Ventures Limited had also filed a police report against the board of directors of PT Bank China Construction Bank Indonesia Tbk (MCOR). The series of police reports are related to one case, i.e.,the disputes over the debt-claiming rights (cessie) involving PT Geria Wijaya Prestige (GWP). The case is getting even more interesting. Note that the last time Fireworks filed their police reports, two were named suspects by the police. In a different but also complicated case, PT Bank Negara Indonesia (Persero) Tbk was finally able to force PT Alvindo Wahana Trading to restructure its debts as the Panel of Judges granted their petition for Suspension of Debts Payment (PKPU). 

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Fireworks Ventures v. MCOR

by | Oct 31, 2017 | | 0

On October 28, 2017 the legal counsel of one Edy Nusantara representing Fireworks Ventures Limited sent a letter to the Financial Service Authority (OJK) to seek protection in relation to a dispute that Fireworks had entered into with PT Bank China Construction Bank Indonesia Tbk (MCOR). This dispute has been going on for several years now, and it involves parties that goes back to the Government’s attempt to rescue the banking sector from the 1998 economic crisis through the Indonesian Bank Restructuring Agency (BPPN).

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