The Trans Retail PKPU and Chairul Tanjung’s Luck
PT Trans Retail Indonesia (the manager of Transmart Carrefour), part of CT Corp., is facing a lawsuit at the Commercial Court of the Central Jakarta District Court. The Lawsuit sought for the company to restructure its debt.
PGAS Solution v. TOPS
PT PGAS Solution, a subsidiary of PT Perusahaan Gas Negara (Persero) Tbk (PGAS), recently filed a tort lawsuit against PT Totalindo Eka Persada Tbk (TOPS), the developer of Mal Taman Anggrek. In the lawsuit, PGAS Solution demanded compensation amounting to over Rp19 billion. What is going on?
Sinar Kalbar v. Minister of Environment and Forestry
Several national media outlets recently reported on a lawsuit filed by PT Sinar Kalbar Raya (PT SKR) against the decision of the Minister of Environment and Forestry to reportedly reduce the concession area of PT SKR by almost 7,000 hectares. The lawsuit was filed in October 2021 but has gone unnoticed because few people know about the Company. It is interesting to see who is behind the Company.
On Corruption in LPEI: Money Laundering and Lawsuit
The investigation into the case of corruption related to the Indonesian Export Financing Agency (LPEI/Eximbank) continues. Earlier in November 2021, the Attorney General’s Office (AGO) announced that it had developed the investigation and named seven suspects of obstruction of justice. Soon after, the AGO named an advocate as a new suspect with the same allegation. Entering 2022, the AGO announced five suspects in the predicate crime. Less than two months later, the AGO named two suspects of money laundering. Apart from the investigation and inquisition, we recently learned that several parties allegedly involved in the case had been suing LPEI since 2020. The latest lawsuit was registered in October 2021 and the proceeding is ongoing.
Embezzlement in AJB Bumiputera
The troubled Asuransi Jiwa Bersama (AJB) Bumiputera 1912 has not yet overcome its financial health problems. But we know this bad condition begins with the firm’s poor quality of human resources. Last year, the South Jakarta District Court convicted former officials of AJB Bumiputera for embezzlement they committed in 2013. Along with them, several other parties were also sentenced. There are two different cases examined and involving the same people, but the cases did not get attention from the media. Recently, on appeal, the sentence for one of the convicts was aggravated.
On Sritex PKPU: Cassation
Textile giant PT Sri Rejeki Isman Tbk (SRIL or Sritex) and its subsidiaries made it through a tough year. After facing various lawsuits for Suspension of Debt Payment (PKPU), with the threat of being delisted from the stock exchange, on Jan, 21, 2022, the group was able to convince its creditors and resolved the dispute. Nevertheless, not all were satisfied. The peace agreement has been promulgated, but two of Sritex’s creditors have challenged it.
The East Jakarta Land Mafia Case: Prosecutors’ Demands
The trial of Yoory Corneles Pinontoan, the former president director of the Regional Public Corporation Pembangunan Sarana Jaya (PD Sarana Jaya) began towards the end of last year. Yoory is suspected of abusing his authority to enrich himself and several other parties, namely Anja Runtuwene and more. Soon after, trials of the other suspects started. The prosecutors have read their demands for all defendants, including the corporate defendant in the case.
PKPU/Bankruptcy Journal: Franky Tjahyadikarta
Entering the third year of COVID-19, the economic situation in several industries has begun to improve, but some are still struggling. One of the parties is Franky Tjahyadikarta, the force behind some of Indonesia’s most luxurious travel stays. Franky has faced too many lawsuits in recent years. His companies and business partners also face the same problems. After holding on for so long, towards the end of 2021, Franky finally decided to apply for debt restructuring on his own behalf. Now the process of Suspension of Debt Payment (PKPU) is still ongoing with the bill value reportedly reaching nearly Rp3 trillion.
Graft Allegation in Krakatau Steel, Again
Towards the end of 2021, in a Meeting with the House Commission VI of the House of Representatives, Minister of State-Owned Enterprises (BUMN) Erick Thohir conveyed the reasons why PT Krakatau Steel (Persero) Tbk could go bankrupt. One of which was allegations of corruption in the company. This statement is by no means surprising, because for years we have wondered why the condition of the only State-owned company in its field has not improved despite receiving so much help from the State Budget. The Corruption Eradication Commission (KPK) has been investigating, specifically following the sting operation three years ago. Several parties have been convicted. Now, it looks like a new round of investigation has begun. The Attorney General’s Office (AGO) announced that it had launched an investigation.
Bambang Tri v. Everyone
The list of opponents of the Ministry of Finance is getting longer every year. In addition to cases that are indirectly related to the Ministry, there are also cases that directly involve the Ministry, one of which is the feud with Bambang Trihatmodjo, which has been going on in public for the past two years. Not long ago, we learned that Bambang filed a different lawsuit against several other individuals, whom Bambang thinks should be involved in the ongoing feud instead of him. Among the names of the defendants is the former Minister of Trade, Enggartiasto Lukita.