PT Bumi Resources Tbk (BUMI), which is currently in a period of Suspension of Debts Payment (PKPU), is still working towards reaching a peace agreement with its creditors. In the hearing held on September 28, 2016, the Panel of Judges of the Commercial Court of the Central Jakarta District Court decided to accept the request for time extension. BUMI now has 31 more days for their PKPU.

The biggest worry of today is that State revenues for 2016 will fall far below the target. This worry had forced the Government to take extraordinary measures, one of which is reducing state expenditure. This austerity measures was ratified by President Joko “Jokowi” Widodo with the issuance of Presidential Instruction (Inpres) No. 8/2016 aimed at reducing the budget of 83 ministries and state institutions. Some have criticized the austerity policy, but the most interesting criticism is on the choice to issue the instruction with a presidential instruction paper. Critics believe that issuing an inpres to modify the budget, which is affixed by law, is unconstitutional. Is this a correct assessment?

Five months have passed since the Supreme Court’s Assembly of Cassation decided to decline Sutan Bhatoegana’s petition for cassation, and to instead accept the cassation filed by the prosecutor of the Corruption Eradication Commission (KPK). With the decision, Sutan’s sentence in the graft case involving the former Secretary General of the Ministry of Energy and Mineral Resources Waryono Karno and the former Chairman of SKK Migas Rudi Rubiandini, was aggravated. On September 15, 2016, the Supreme Court finally published the verdict.

The Cipaganti Karya Guna Persada Cooperative Union (KCKGP), which has twice avoided bankruptcy, finally has to accept its unfortunate fate. On September 28, 2016, the Panel of Judges of the Commercial Court of the Central Jakarta District Court granted the request for the cancellation of the peace agreement filed by two of KCKGP’s creditors.

In July 2016, the Riau Regional Police (Polda Riau) decided to issue a Warrant for Termination of Investigation (SP3) to the 15 companies with plantation and forestry license that were previously thought to be the perpetrators of the 2015 forest fires. This decision led to the disappointment of various parties as the investigation conducted since last year lead to nowhere. But a refreshing news has come out of Central Kalimantan. Though the investigation and prosecution related to the 2015 forest fires have not been made public, there’s been progress.

The former member of the House Commission V of the House of Representatives Damayanti Wisnu Putranti of PDI-P, who was caught receiving bribes in the first sting operation (OTT) conducted by the Corruption Eradication Commission (KPK) in 2016, was found guilty of all charges by the Corruption Court of the Central Jakarta District Court. Damayanti is sentenced to 4 years and 6 months in prison.

In a move to improve on the implementation of the Tax Amnesty program, the Ministry of Finance has revised several provisions contained in the Regulation of the Minister of Finance (PMK) No. 118/PMK.03/2016. On September 23, 2016, the Ministry of Finance issued PMK No. 141/PMK.03/2016 and stated that this revision would add legal certainty and ease in completing administrative process for Taxpayers participating in the Tax Amnesty program

The case of alleged corruption related to the sale of right to collect debts (cessie) of the Indonesian Bank Restructuring Agency (BPPN) involving PT Victoria Securities Indonesia (VSI) and PT Adyaesta Ciptatama (previously reported as PT Adistra Utama) has entered a new phase. The Attorney General’s Office (AGO) has reportedly named suspects in the case.

The Supreme Court granted the Reconsideration (PK) petition filed by two of the graft convicts in the bioremediation case involving PT Chevron Pacific Indonesia (CPI). With this decision, the two convicts must be acquitted. The Attorney General’s Office (AGO) has not yet decided on how to response to this development.

With only 4 days left before the period of Suspension of Debts Payment (PKPU) of PT Trikomsel Oke Tbk (TRIO) is over the Company’s creditors agreed to the peace proposal. At the voting meeting held on September 22, 2016, off all the creditors present, only 3 creditors rejected the proposal, and thus TRIO was able to resolve the process peacefully and escape bankruptcy.