Update on Dwi Aneka Jaya Kemasindo’s PKPU
The process of Suspension of Debts Payment on PT Dwi Aneka Jaya Kemasindo Tbk (DAJK) continues. Recently, following a meeting of creditors held at the Commercial Court of the Central Jakarta District Court on May 26, 2016, the PKPU administrators verified the temporary list of bills from the creditors in the amount of Rp1.1 trillion.
On the Revision of the Minerals and Coal Law No.4/2009
The House of Representatives (DPR) included the revision of UU No.4/2009 on Minerals and Coal (Minerba) into this year’s legislative priority program, and yet to date, the House has not been able to discuss the revision.
Updates on Bumi Resources’ PKPU
On May 30, 2016 the administrators of PT Bumi Resources Tbk (BUMI)’s Suspension of Debts Payment (PKPU) was supposed to verify the bills of the Company’s creditors, but this had to be postponed due to differences in the bills presented by bond holders and the bills presented by the trustee. Subsequent verification was scheduled for June 2, 2016 in two places at once, namely, PKPU’s administrators office starting May 31, 2016 to June 1, 2016; and at the Commercial Court of the Central Jakarta District Court on June 2, 2016.
Updates on Dewie Yasin Limpo’s Bribery Case
The hearing for Dewi Yasin Limpo’s graft case continues. On May 30, 2016, the Hanura politician read her plea on the charges of her involvement in bribery. Dewi insisted that she is innocent.
PKPU for Eagle High Plantation
The subsidiary of PT Eagle High Plantation Tbk (BWPT), PT Sawit Sukses Sejahtera (SSS), must face a Suspension of Debts Payment (PKPU) lawsuit filed by the latter’s creditors, namely, PT Triroyal Timurraya (Triroyal) and PT Sumber Sarana Power Electric (SSPE). BWPT is a palm oil plantation company controlled by Peter Sondakh’s Rajawali Corpora. The first hearing of the plea was held on May 23, 2016, but it had to be postponed until May 30, 2016 because BWPT representatives was not present.
The Troubled Kongsi Delapan
Three Indonesian tycoons—Abdul Latief, Pontjo Sutowo, and Jan Darmadi—reportedly filed a complaint to the Minister of Law and Human Rights Yasonna H. Laoly and asked the Ministry to examine the changes in the Articles of Association (AD) of PT Kodel over alleged shares manipulation. The three men filed the petition because a portion of their stake in the company was supposedly reduced without notice and without the agreement of the General Meeting of Shareholders (RUPS).
Updates on Saripari’s Insolvency
The insolvency proceedings of PT Saripari Pertiwi Abadi (SPA) is not running smoothly. The Company was declared bankrupt for not implementing the peace agreement it had reached with its creditors during the period of Suspension of Debts Payment (PKPU). And now, the Company’s employees are speaking up related to the amount of wages and severance pay.
The Judges Involved in Corruption
Two days ago the Corruption Eradication Commission (KPK) conducted a sting operation (OTT) in Bengkulu and arrested two judges of the Corruption Court of the Bengkulu District Court. The two judges are additions to the long list of judges that the KPK have caught within the past 3 years. All of which received bribes in exchange for their help in arranging the verdict of a case in favor of the briber. Who are these judges?
Updates on Suharli Malaya’s Insolvency
PT Suharli Malaya Lestari (SML), a garment company based in West Java, was declared bankrupt on April 6, 2016. In the process of liquidating the company, the team of curators was forced to temporarily recognize the bills submitted by SML’s creditors in the absence of the Company.
The High Court of East Java v. La Nyalla
High Court of East Java is trying to bring down the Chairman of the Football Association of Indonesia (PSSI) La Nyalla Mattalitti for the second time, after the Surabaya District Court granted the pre-trial filed by La Nyalla’s son Mohammad Ali Affandi on May 23, 2016. The sole presiding judge stated that La Nyalla’s status as a suspect in two different cases were no longer valid.