Latest Sting Operation in Cirebon
The Corruption Eradication Commission (KPK) conducted yet another Sting Operation in West Java. This time, the investigators arrested several parties, including the Regent of Cirebon Sunjaya Purwadisastra, who is a PDI-P politician and a retired military officer. Before Sunjaya was arrested, the Cirebon Vice Regent one Tasiya Soemadi (PDI-P) was also indicted in a case of corruption, He was declared guilty in 2017, but decided to escape and became a fugitive. He was finally arrested in April 2018. And so Cirebon is now leaderless.
Towards Agrarian Reform: The Land Bill
On October 23, 2018, the President held a closed cabinet meeting and discussed the continuation of the deliberation of the Land Bill. The Bill, as we all know, was included in the National Legislative Program (Prolegnas) in 2015. A draft exists and the Government had submitted a problem inventory (DIM) on said draft to the House of Representatives at the end of 2017. But Government ministries responsible for agrarian issues have supposedly been unable to come to an agreement on some matters and hence the deliberation of the Bill has been delayed. The ministries have supposedly found common ground. Does this mean we will see a new Land Bill passed?
The Upcoming Regulation on Equity Crowdfunding
The Financial Services Authority (OJK) had promised to promulgate a regulation for equity crowdfunding by September 2018, bus as we all know, the OJK missed its deadline. Recently, the OJK has said that they would promulgate said regulation by the end of this year. Equity crowdfunding is an alternative way to collect funds for small and medium startups/enterprises. It has yet to be regulated, and this is why the OJK is working on the details.
On Tirta Amarta Bottling’s Case: Trial and PKPU
It has been over a year since the Attorney General’s Office (AGO) announced their investigation into the irregularities in Bank Mandiri’s issuance of credit facility to PT Tirta Amarta Bottling (the Company). The investigation commenced after Bank Mandiri asked for assistance from the AGO. At the time, the estimated losses was a little over Rp1 trillion. But the Supreme Audit Agency (BPK) calculated more losses than predicted. Since then, the AGO had announced more suspects in the case, and the trial of the owner of the Company, one Rony Tedy, had begun. Rony Tedy’s own dispute with his former business partner is also on-going in the North Jakarta District Court. But on top of that, the Company was recently forced to restructure its debts after its creditors filed a lawsuit of Suspension of Debts Payment (PKPU).
Putra Sarana Transborneo v. Kapuas Tunggal Persada
On October 17, 2018 the South Jakarta District Court registered a default lawsuit filed by PT Putra Sarana Transborneo (PST) against PT Kapuas Tunggal Persada (KTP) over a debt dispute of more than US$4 million. The lawsuit was registered as Case No. 812/Pdt.G/2018/PN JKT.SEL. Listed as defendants in the lawsuit are KTP, one Sifan Triyono, and one Harwo.
Dispute within AISA Continues
As promised, the Board of Commissioners of PT Tiga Pilar Sejahtera Tbk (AISA) held the Extraordinary Meeting of Shareholders (RUPSLB) on October 22, 2018 and a elected new Board of Directors to lead the Company.
Pre-Trials against the KPK
Over the past two weeks the South Jakarta District Court received five pre-trial lawsuits filed against the leaders of the Corruption Eradication Commission (KPK). Four lawsuits were filed by the Indonesian Anti-Corruption Society Association (MAKI) lead by one Boyamin Saiman, and one lawsuit was filed by the disgraced senior advocate Lucas. The pre-trial on Lucas’ case should have started on October 22, 2018, but the KPK requested postponement.
Law Journal : Objections against KPPU and Sariwangi’s Bankruptcy
In September 2018, the Business Competition Supervisory Commission (KPPU) ordered PT Darma Henwa Tbk (DEWA) and PT Japfa Comfeed Indonesia Tbk (JPFA) to pay a fine for violating the law. Less than a month after the decision, the two companies separately filed an objection at the South Jakarta District Court. Meanwhile, the team of curators in the bankruptcy process of PT Sariwangi Agricultural Estate Agency (Sari Wangi AEA Co Ltd – Sariwangi) and its subsidiary PT Maskapai Perkebunan Indorub Sumber Wadung (Indorub) has announced the stages of the bankruptcy process to the creditors, but Indorub is reportedly still trying to appeal.
Law Journal: The Trial of the Regent of Purbalingga
The trial of the disgraced Regent of Purbalingga one Tasdi started and the indictment revealed several important things, including allegation of involvement of Tasdi’s colleague in PDIP.
Pelita Cengkareng v. Molucca Holdings: The Dispute Continues
The dispute between Luxembourg’s Molucca Holdings S.à.r.l and PT Pelita Cengkareng Paper will not be over anytime soon. We all know that Molucca first attempted to force the paper manufacturing company to pay their debts in mid-March 2018 when they filed for a lawsuit on Suspension of Debts Payment (PKPU). But the attempt failed. Molucca then tried to file a similar lawsuit twice, but the second and the third attempt was also rejected by the Commercial Court. Pelita Cengkareng fought back in April 2018 by filing a tort lawsuit against Molucca and four other parties. The trial began in September 2018, but Pelita Cengkareng filed another lawsuit on October 17, 2018 on the same objects of dispute. Two weeks before that, the main dispute (which caused this chaotic situation) ended with the bankruptcy of the Royal Standard group.