Berkat Bumi Citra’s Bankruptcy
Last year, PT Berkat Bumi Citra (BBC) was sued by one of its creditors over a debt dispute. The Company was able to escape bankruptcy in the first week of December 2016. But on August 2, 2017, the peace agreement was annulled by the Central Jakarta District Court. The Company was subsequently announced bankrupt.
Patrialis Akbar’s Graft Case: The Defendants’ Plea
Basuki Hariman and his secretary Ng Fenny, the two suspected bribers in the graft case involving the former Constitutional Court (MK) Justice Patrialis Akbar, read their plea in the hearing held on August 7, 2017. Fenny begged for mercy, while Basuki continued to deny his involvement in the case. In a separate hearing held for Patrialis, the intermediary in the case Kamaludin again appeared as a witness.
Miryam’s Trial and KPK’s Appeal
On July 13, 2017, the Corruption Court of the Central Jakarta District Court held the first hearing on the trial of Miryam S. Haryani, the Hanura politician and former member of the House Commission II of the House of Representatives, who was named a suspect of perjury related to the E-KTP graft case. The hearing went by briefly with the agenda of listening to the prosecutors’ indictment. Miryam stood firm and denied the charges in the indictment. She claimed that the KPK had no rights to investigate for perjury. On August 7, 2017, the Panel of Judges decided in favor of the KPK and denied Miryam’s objection.
Updates on PT Berdikari’s Graft Case
The Corruption Eradication Commission (KPK) have been investigating allegations of corruption in PT Berdikari (Persero) related to the procurement of urea fertilizer since February 2016. One suspect had been convicted. By the end of July 2017, the KPK detained the remaining five suspects.
Nyonya Meneer’s Bankruptcy
The ninety-eight years old PT Nyonya Meneer, the legendary Indonesian herbal company, must accept bankruptcy after the Commercial Court of the Semarang District Court in Central Java decided to cancel the peace agreement that the Company signed with its creditors back in 2015. The cancellation of the peace agreement was requested by one of the Company’s creditors, i.e., Hendrianto Bambang Santoso. It was granted on August 3, 2017. The Company, however, said they had no idea that this would happen because the Company was in a healthy condition.
Bank Capital vs Bukit Uluwatu Shareholders
PT Bank Capital Tbk (BACA) has filed tort lawsuit against main shareholders of PT Bukit Uluwatu Tbk (BUVA), a hospitality company listed on IDX famous with its Alila brands. The lawsuits have been registered to the South Jakarta District Court last week.
Peace for Pazia Pillar Mercycom
PT Pazia Pillar Mercycom, one of Indonesia’s well-known electronics retailer, escaped the threat of bankruptcy after successfully convincing their creditors that they’re capable of resolving their debt problem. With the approval of the majority of creditors, the peace proposal offered during the process of Suspension of Debts Payment (PKPU) was finally approved and will be promulgated in a hearing on August 15, 2017.
Updates on the Rice Mixing Scandal
Two weeks after the Food Task Force (Satgas Pangan) raided the warehouse owned by PT Indo Beras Unggul (IBU) in Bekasi on suspicion of fraud, the National Police’s Criminal Investigation Unit (Bareskrim) named a suspect. The suspect announced on August 2, 2017 was the Company’s President Director Trisnawan Widodo.
Update on Patrialis Akbar’s Graft Case
The trial of businessman Basuki Hariman and his secretary Ng Fenny, the two suspected bribers in the graft case involving the former Constitutional Court (MK) Justice Patrialis Akbar, will end soon. In the latest hearing held on July 31, 2017, the prosecutors read their demands for the two defendants. In a separate hearing on the same day, the trial of Patrialis Akbar continued with the intermediary in the case Kamaludin appearing as a witness.
On the Imported Beef Cartel Case: The End of A Dispute?
In 2016 the Business Competition Supervisory Commission (KPPU) examined the allegations of cartel-like practices involving 32 feedlotters. The KPPU later decided that all of the companies had conspired to influence the prices of beef around the Greater Jakarta area. All of them were sentenced to paying a fine to the extent of their involvement in the conspiracy. Two companies accepted the punishment while the other 30 companies decided to file an objection at the Central Jakarta District Court. The companies that objected to the decision asked the Panel of Judges to conduct an additional examination before continuing with the trial, but the Panel of Judges declined the request and rejected the objection in the hearing held on August 1, 2017.