The Curious Case of Maria Sopiah
On February 21, 2018, several advocates from “Tonic Tangau & Rekan” law office, acting on behalf of three companies, published an announcement in Bisnis Indonesia containing serious allegations of unlawful acts committed by one Maria Sopiah and PT Harvest Time. The problem concerns over 5 million square-meters of land areas in Banten. The South Jakarta District Court had been examining this case since April 2016. In the announcement, the advocates warned all parties against conducting anything on or engaging in any transaction related to the disputed land areas.
KPPU v. PT Plaza Indonesia Realty Tbk
The Business Competition Supervisory Commission (KPPU) is very busy this year. In addition to examining allegations of unhealthy business competitions, the KPPU also examines allegations of delay in the notification of shares takeover. One of such cases is the acquisition of PT Citra Asri Property (Plaza Indonesia Urban) by PT Plaza Indonesia Realty Tbk (PLIN).
Nazaruddin’s Accounts
The trial of Setya Novanto—who is a defendant in the electronic identity card (E-KTP) graft case—continues. The former Treasurer of the Democratic party one M. Nazaruddin recently testified against Novanto. In his testimony, Nazar mentioned the Deputy Speaker of the House of Representatives one Fahri Hamzah. What’s interesting is that Nazar’s current statement contradicts the statements he made back in 2014.
Law Journal: Stonehenge Venture Capital and Angkasa Pura’s Disputes
Two interesting dispute lawsuits were recently registered. One is a dispute related to purchase agreement of a company’s shares involving a Belgian-based company, and another is a dispute related to settlement result through arbitration involving PT Angkasa Pura II (Persero).
A Judicial Review on the MD3 Law
On February 12, 2018 the House of Representatives enacted the amendment to the Law No. 17/2014 on MPR, DPR, DPD, and DPRD (MD3 Law), but it quickly became a subject of opposition, particularly because of the addition of controversial articles.
PT Alpindo Mitra Baja’s Insolvency
In the first week of February 2018, the South Jakarta District Court received a petition for a lawsuit on a land dispute filed by one Cucu Kartika. The land dispute is apparently related to the process of insolvency of PT Alpindo Mitra Baja, the Company that made headlines back in 2013 for alleged involvement in Bank Jabar Banten (BJB)’s fictitious credit facility case.
Lawsuits for Freeport Indonesia
The last two years have been tough for PT Freeport Indonesia. The Company had to deal with extortions, and a challenging contract renewal negotiation with the Government. This was topped with protests from the workers and employees. Things are still going to be rather challenging for the Freeport Indonesia. Some of its officials are suspected of having close ties with judges in the district court, and the allegations have been reported to the Supreme Court and the Corruption Eradication Commission (KPK). In addition to that, Freeport Indonesia must face a lawsuit filed by three individuals related to the ownership of thousands of tons of scrap iron waste.
PT Esa Kertas Nusantara and Disputes
Soenarjo Sampoerna, Boedi Sampoerna’s son, founded PT Esa Kertas Nusantara (EKN) in 2004, but five years after the Company’s establishment, a debt dispute emerged, and a complex derivative transactions plunge the Company into a prolonged problems. In 2013, the shareholders decided to sell the Company to PT Pindo Deli Pulp & Paper Mills, a subsidiary of Asia Pulp & Paper (APP) owned by the Sinar Mas Group. After that, we stopped hearing news of EKN’s woes. Last week, one Iswanto Browo, who was one of EKN’s shareholder, filed a tort lawsuit against ten parties, including the directors and shareholders of Pindo Deli, related to the sale of EKN.
Scrutinizing Pension Funds of SOEs
Late last month, the court sentenced Helmi K Lubis, former CEO of Pension Fund of state oil and gas company Pertamina, five years and six months prison. He is also required to pay a replacement of state losses of Rp46.21 billion related to corruption committed when he was CEO of the pension fund. How about pension funds in other state companies?
Problems with Korea World Center Indonesia
PT Korea World Center Indonesia (KWCI) began investing in Indonesia in the early 2000s with the aim of building a South Korean cultural center in East Jakarta. But on the way, the Company faced a lot of problems and now the project is abandoned. Last week, KWCI represented by its Director one Song Gi-Man filed a tort lawsuit against several parties. This lawsuit actually provide an indirect explanation on why the Company cannot perform according to plan.