On Aug. 24, 2022, the Jakarta State Administrative Court (PTUN Jakarta) registers a lawsuit related to the controversial revocation of mining permits. The company filing the lawsuit is actually a low profile company, but the representatives caught our attention. He is...

In the midst of the development of financial literacy and increasing investment needs, the existence of financial institutions is also increasing. But not infrequently, parties that do not have the authority in financial matters can actually operate freely. The most obvious example is what happened to Kospin Indosurya, which was recently declared bankrupt and involved in criminal scheme. Recently, the Ministry of Cooperatives and Small and Medium Enterprises said that at least eight savings and loans cooperatives union (Kospin or KSP) had similar problems and three of them were facing criminal charges, including Kospin Indosurya.

Continuous pressure from The Attorney General’s Office (AGO) on businessman Surya Darmadi, owner of Duta Palma Group worked well. Surya finally returned to Indonesia in the late afternoon on Aug. 15, 2022 after being on the wanted list for nearly three years. Surya’s health condition had deteriorated a few days later and had to be treated intensively, but his condition soon improved and Surya was finally examined as a suspect on Aug. 24, 2022. At the same time, the AGO announced that it had seized various assets related to Surya with a total value of Rp10 trillion.

In April 2021, Baru Gold once again announced that it had implemented the socialization meetings between March 22, 2021, and March 24, 2021, and stated that the meetings were well attended. The Company further mentioned that speaking at the meeting in support of the project were the Regent of Sangihe Islands, the Chief of Police for the Sangihe Islands Regency, the Head of the Environmental Department, and the Head of the Energy and Mineral Resources Department. The announcement sounds off because the details are in contrast to the statement provided by the Regent himself.

It has been nearly two years since the provision of a mining operation license on Sangihe Island in North Sulawesi has become a controversy. Several representatives of the affected residents filed a lawsuit to the Jakarta State Administrative Court (PTUN Jakarta) against the decision given to the mining company soon after. After nearly a year of proceedings, the lawsuit was rejected in April 2022. However, a different group filed a different lawsuit to the PTUN Manado, North Sulawesi.

In the midst of the recovery period due to the COVID-19 pandemic, several companies are still facing debt restructuring process due to the Suspension of Debt Payment (PKPU) lawsuit. Among the companies are PT Estika Tata Tiara Tbk (BEEF), who does business with the...

Satuan Tugas Penanganan Hak Tagih Negara Dana Bantuan Likuiditas Bank Indonesia (BLBI), a task force under Minister of Finance Sri Mulyani Indrawati’s supervision to recover funds from some businessmen related to 1997-1998 financial crisis, continue giving pressures....

A few days ago we reported on the latest legal problem faced by PT Asmin Koalindo Tuhup (PT AKT), a subsidiary of PT Borneo Lumbung Energi & Metal Tbk (BORN, now delisted) belonging to Samin Tan. The company is threatened to no longer operate and is suing the decision issued by the Government. This news is actually a long overdue so it is no longer surprising, but shocking news came from the National Police (POLRI) this week.

In October 2021, PT Pabrik Kertas Tjiwi Kimia Tbk (TKIM) and PT Indah Kiat Pulp & Paper Tbk (INKP),  both part of Sinar Mas conglomerate, sued CV Karya Putra Bersama (CV KPB) for alleged default. The parties have a coal sale and purchase agreement. The court had already decided in favor of TKIM and INKP in June 2022, however, instead of implementing the court’s decision, CV KPB filed a lawsuit against INKP, seeking to force the company to restructure its debt.

Once praised for his anti-corruption image and intellect, the disgraced Governor of South Sulawesi, Nurdin Abdullah, and his accomplice were found guilty of graft in separate hearings held towards the end of 2021. The decisions, however, was not the end. The Corruption Eradication Commission (KPK) continued investigating and found entrance to another case of corruption involving four auditors of the Supreme Audit Agency (BPK). The KPK named five new suspects in the case, and this week the auditors are detained.