PT Bima Multi Finance, the subsidiary of PT Cipta Citra International entered their period of Suspension of Debts Payment (PKPU) on May 19, 2017. The Company filed voluntarily, acknowledging that it was having financial difficulties. The meeting of creditors have been held several times and the Company had presented their peace proposal, but the negotiation continues. The next meeting of creditors is scheduled to be held on July 7, 2017. The creditors will vote on the proposal, and if accepted, the Company will be able to restructure its debts.

Last year, around the time the Indonesian Government launched the Tax Amnesty Law, the Singapore High Court published their decision on a family dispute regarding the management of an offshore trust. The family dispute between Kuntjoro Wibawa, his mother Harianty Wibawa, and his siblings was rejected because the judge believed the plaintiff consented to the trust at the time of establishment. Last week, the Singapore High Court once again published their decision on a dispute between Kuntjoro Wibawa and his former legal counsel Tommy Choo, Mark Go & Partners. This long-standing dispute is also related to taxation issue.

The trial of the former Head of Initial Evidence Sub-Directorate at the Law Enforcement Directorate in the Directorate General of Taxation Handang Soekarno, who was caught for receiving bribes from the Managing Director of a subsidiary of Lulu Group International PT EK Prima Ekspor (EKP), will soon come to an end. Previously, interesting evidence were made public through the trial, and Handang was not holding back. Many thought that the prosecutors would thus go easy on Handang. But on June 21, 2017, the prosecutors read their demands for Handang and did not show any lenience.

The Corruption Eradication Commission (KPK) conducted Sting Operations (OTT) in Bengkulu three weeks ago and arrested an active prosecutor. On June 20, 2017, however, the KPK again conducted an OTT in Bengkulu. This time, among the individuals arrested, there was the Governor of Bengkulu Ridwan Mukti and his wife. Ridwan, who kept an image as an anti-corruption activist, is the third Governor of Bengkulu involved in graft cases.

United Overseas Bank Ltd (UOB – SGX: U11) filed a lawsuit against Lippo Marina Collection Pte Ltd (Lippo), a subsidiary of Lippo Limited (HKEX: 226), and seven other parties on November 2014 for allegedly misleading the bank into granting inflated housing loans for 38 condo units at Marina Collection (MC) in Sentosa Island. The bank had since dropped five defendants from its suit, but it maintains three main defendants, i.e., Lippo and two property agents named Rick Goh and Aurellia Ho. Over the past two years, the parties had been fighting over an affidavit made by Rick Goh, which supposedly benefitted UOB. Lippo had repeatedly asked for the said affidavit but UOB said disclosure was not possible due to a litigation privilege. After several trials, on June 16, 2017, the Singapore High Court decided that the disputed affidavit did not need to be disclosed and therefore Lippo’s appeal should be dismissed.

Last week, PT Baktiparamita Putrasama published an announcement stating that they’re the rightful owner of a 18,762 square-meter plot of land in Pegangsaan Dua, Kelapa Gading, North Jakarta. But a few days later, the heirs of the late Abdul Rachman Saleh published a counter-announcement stating that the claim was not true. The heirs also stated several court verdicts to strengthen their claim.

On May 22, 2017, a riot broke during the process of land dispute execution in West Kuningan, South Jakarta. The execution process was thus postponed. The plot of land in question, to this day, remains sealed with a warning that states the plot as a property of PT Cempaka Surya Kencana (CSK), a company owned by one Aziz Mochdar.