PKPU Journal
Suspension of Debts Payment (PKPU) is still an option for businesses to resolve debt disputes as well as an opportunity to restructure their financial capabilities, but not all parties can resolve their PKPU status peacefully. On January 17, 2018, the majority of creditors from two affiliated consumer goods distributing companies, i.e., PT Distribusi Indonesia Jaya and PT Sinar Lestari Ultrindo refused to accept the peace proposal that the companies submitted. On January 22, 2018, the Panel of Judges decided to promulgate the results of the vote and declared both companies bankrupt. Separately, plastic bottle maker PT Namasindo Plas has to face intervention from PT Bank Negara Indonesia (Persero) Tbk (BBNI) in the ongoing PKPU process. BBNI is the largest creditor and wants to ensure that the PKPU process takes place in accordance with the applicable legal provisions. So the state-owned bank proposes additional members for the PKPU administrators team to the Panel of Judges.
The Latest on the TPPI Graft Case
Towards the end of 2017, the National Police’s Criminal Investigation Unit (Bareskrim Polri) held a press conference to explain the progress of their investigation into PT Trans Pacific Petrochemical Indotama (TPPI) and BP Migas (now Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi — SKK Migas). And so it appeared that the Bareskrim had tried to put pressure on the Attorney General’s Office (AGO). On the second week of January 2018, the AGO finally said that the docket of the suspects were done but the AGO still did not want to move ahead with prosecution because Honggo Wendratno was nowhere to be found. The AGO said that the Bareskrim must find him first before the AGO could register the case at the district court. The Bareskrim asked the Interpol for red notice and raided Honggo’s house on January 24, 2018.
Corruption Journal: Bank Mandiri’s Credit Facility and Corruption in Kebumen
Entering the year 2018, the Attorney General’s Office (AGO) and the Corruption Eradication Commission (KPK) appear to be competing with one another. The two institutions have been very active in announcing the progress of their investigations. This week, the AGO announced that it had named three suspects in the suspected misuse the credit facility Bank Mandiri issued to PT Tirta Amarta Bottling (TAB). At the same time, the KPK announced that they had named the Regent of Kebumen as a suspect of corruption as a result of the development of their investigation following a sting operation conducted in 2016.
Helmi Kamal Lubis’ Defense Plea
The Attorney General’s Office (AGO) named the former President Director of Dana Pensiun Pertamina M. Helmi Kamal Lubis a graft suspect following the problematic purchase of shares of PT Sugih Energy Tbk (SUGI) over a year ago. His trial began in November 2017 and the prosecutors read their demands on January 15, 2018. On January 22, the trial continued with Helmi and his team of legal counsels reading their defense plea.
Corruption Journal: E-KTP Graft Case and South Jakarta District Court Bribery Case
The trial of Setya Novanto, the latest defendant in the case of alleged corruption related in the procurement of electronic identity card (E-KTP), continues on January 22, 2018. The hearing lasted for more than 12 hours. The most important witness in the hearing was one Made Oka Masagung, who supposedly helped Setya Novanto and other parties to disguise various financial transactions. On the same day, the same Corruption Court held the last hearing for Yunus Nafik, the president director of PT Aquamarine Divindo Inspection (ADI), who was found guilty of bribing one Tarmizi, the registrar of the South Jakarta District Court.
Asmin Koalindo Tuhup v. Government of Indonesia (II)
The Government of Indonesia terminated its coal mining concession agreement (PKP2B) with PT Asmin Koalindo Tuhup (AKT), a subsidiary of PT Borneo Lumbung Energi & Metal Tbk (BORN) belonging to Samin Tan last year. Concerns emerged after the decision was published, one of which was the sustainability of BORN. Perhaps that’s why AKT decided to file a lawsuit against the Government. On January 23, 2018, news spread that AKT won the lawsuit but that turned out to be false rumor.
PKPU Journal: IBFN and Mimikids Garmindo
Financing firm PT Intan Baruprana Finance Tbk (IBFN) entered their period of Suspension of Debts Payment (PKPU) back in October 2017. They earned an extension but it’s most likely its last chance. A Bandung-based textile company PT Mimikids Garmindo also entered their PKPU last year (in November 2017). Nevertheless, PT Mimikids Garmindo and it owner/personal guarantor still deny the information on their debts, and they questioned the decision of the Panel of Judges.
Ongoing Examinations in the KPPU
The Business Competition Supervisory Commission (KPPU) has reportedly escalated the status of examination of alleged violations in the provision of under water services for Kepodang and Ketapang Field. So far, according to the KPPU, there was evidence that parties in the project were involved in a conspiracy. In addition to this case, the KPPU is also examining several other cases.
More on Corruption in North Sumatera
The Corruption Eradication Commission (KPK) recently told the press that they’re developing an investigation related to bribery in North Sumatera. This was surprising. We thought that the KPK had finished their investigation after convicting the disgraced governor Gatot Pujo Nugroho and his ilk for bribery last year. Who are they after now?
Directorate General of Sea Transportation Graft Case: Indictment and Verdict
The former Director General of Sea Transportation Antonius Tonny Budiono was caught back in August 2017 after receiving bribe from the Commissioner of PT Adhiguna Keruktama (AGK) Adiputra Kurniawan. His trial began on January 18, 2018. The public prosecutors read the details of the crime Tonny allegedly committed. On the same day, in a separate hearing, the Panel of Judges sentenced Adiputra to 4 years imprisonment.