Intan Baruprana Finance v. Vice Regent-elect of Wajo
The dispute between IDX-listed consumer financing company PT Intan Baruprana Finance Tbk (IBFN) and CV Kalimass Jaya Utama and its owner Amran (the Vice Regent-elect of Wajo) continues. In the latest hearing, the defendants’ legal counsel gave their answer in response to the bankruptcy lawsuit filed by IBFN and stated that the dispute cannot be examined by the Commercial Court. Separately, the dispute between Sebuku Group and PT Multi Sarana Agro Mandiri (MSAM) continues despite the recent court verdicts cancelling the decisions published by Governor of South Kalimantan.
On Goldman Sachs’ Case: Appeal Verdict
In September 2016, Benny Tjokrosaputro—the founder and President Director of PT Hanson International Tbk (MYRX)—filed a tort lawsuit to the South Jakarta District Court against Goldman Sachs International on alleged illegal sales of Benny’s shares in MYRX. Over a year later, the Panel of Judges at the South Jakarta District Court decided in favor of Benny. On July 9, 2018, the Jakarta High Court read their verdict in response to Goldman Sachs appeal petition. Unfortunately for Goldman Sachs, the High Court decided to uphold the verdict given by the district Court.
On Nur Alam’s Graft Case: Appeal Verdict
The disgraced Governor of Southeast Sulawesi Nur Alam was named suspect by the Corruption Eradication Commission (KPK) in August 2016. Nur Alam allegedly abused his authority (and received compensation) in the process of granting mining permit to PT Anugrah Harisma Barakah (AHB) between the year 2009 and 2014. The trial started in November 2017 and he was found guilty earlier this year. But the KPK’s prosecutors were not satisfied with the verdict that they decided to file an appeal. On July 17, 2018, the Jakarta High Court accepted the appeal and aggravated Nur Alam’s punishment.
More on the Sting Operation in Labuhanbatu
The Corruption Eradication Commission (KPK) officially announced the chronology of case that led to the Sting Operation in the evening of July 17, 2018. The KPK named three suspects in the case including the Regent of Labuhanbatu, North Sumatera, one Pangonal Harahap (PDI-P). One suspect, however, is currently on the run. The person ran away with the bribe money that was supposed to be delivered to Pangonal. The other names mentioned by the KPK matched with those we mentioned previously.
Update on SNP Finance’s PKPU
PT Sunprima Nusantara Pembiayaan (SNP Finance) who is now in their period of Suspension of Debts Payment (PKPU) once again submitted their peace proposal to the creditors. But not much has changed that the creditors are still unsatisfied with what they’ve been presented. Meanwhile, the Ministry of Finance have finished examining Deloitte Indonesia (who supposedly played a crucial role in the case) and is preparing sanctions for the firm.
Sting Operation in Labuhanbatu
In the evening of July 17, 2018, news broke that the Corruption Eradication Commission (KPK) had conducted yet another Sting Operation. This time the KPK reportedly caught the Regent of Labuhanbatu, North Sumatera, one Pangonal Harahap (PDI-P) and four others. The KPK have not yet provided any details on the case but this is not the first time Pangonal Harahap has been linked to allegation of corruption.
United Coal’s Insolvency, and Merpati Airlines’ PKPU
The insolvency process of PT United Coal Indonesia is supposed to be over soon. The team of curators in charge of the process is still waiting for the decision at the stage of cassation before they could distribute the last batch of debts payment. Meanwhile, at the Commercial Court of the Surabaya District Court, the creditors of Merpati Airlines accepted the Company’s request for time extension and granted Merpati 45 additional days to draw up their debts repayment scheme and proposal.
Law Journal
Physician Bimanesh Sutarjo, who stand trial as suspect in the case of obstruction of justice for allegedly helped Setya Novanto’s legal counsel to fabricate his medical record, was deemed guilty on July 16, 2018. On the same day, the Attorney General HM Prasetyo visited the House of Representatives and gave his statement on the Yayasan Supersemar’s dispute. Separately, last week, the Central Jakarta District Court registered one more lawsuit filed against Luxembourg’s Molucca Holdings S.à.r.l.
Update on the BLBI Graft Case
The Central Jakarta District Court moved forward with the trial of Syafruddin “Syaf” Arsyad Temenggung, the former chairman of the Indonesia’s Bank Restructuring Agency (BPPN), who is a suspect in the BLBI graft case. In the latest hearing held on July 16, 2018, the Corruption Eradication Court (KPK) summoned four witnesses including Dorodjatun Kuntjoro Jakti, who is also named in the indictment as the person responsible in the case.
More Sting Operations and Corruption at the House Commission VII
On Friday last week, the Corruption Eradication Commission (KPK) conducted a Sting Operation in Jakarta. There were hints in the afternoon that the KPK had arrested a member of the House of Representatives, but the KPK did not provide any details until the evening of July 14, 2018. It was later revealed that the Sting Operation was related to a bribe involving the Deputy Chairman of the House Commission VII Eni Saragih. At the heart of the case is the ongoing power plant project in Riau. Eni’s arrest marks the 16th Sting Operation conducted by the KPK so far.