Updates on Batavia Air’s Insolvency
The dispute on the ownership of PT Metro Batavia’s assets has been on going since Batavia Air was declared bankrupt in 2013. We’ve had to follow a series of lawsuits coming from all directions, including the Company’s board of directors, the team of curators overseeing the Company’s bankruptcy, and from the Company’s former employees. Today, three years later, we’re seeing signs that the insolvency process will be over soon. The team of curators has just announced another plan to distribute the results of the auction of assets amounting to Rp17,61 billion to the Company’s creditors.
Receivership of Samudra Energy
Samudra Energy Ltd, a company controlled by Northstar Pacific private equity firm, is in a receivership for defaulting loans. Borrelli Walsh has reportedly been appointed a receiver of the oil and gas company.
Updates on the PKPU for Trikomsel
The process of Suspension of Debts Payment (PKPU) for PT Trikomsel Oke Tbk (TRIO) is still ongoing. In mid-April 2016, not long after four directors of TRIO resigned, the panel of judges of the Commercial Court of the Central Jakarta District Court approved an extension of TRIO’s PKPU for 60 days (until June 2016). TRIO is reportedly set to sell its entire ownership of one of its subsidiaries: PT Global Teleshop Tbk (GLOB).
Update on the Case of PLTU Sumuradem
On April 28, 2016 the Supreme Court granted the Public Prosecutor’s appeal against Irianto MS Syafiuddin (Yance) the former Regent of Indramayu tried for his involvement in graft in the procurement of land for the construction of Steam Power Plant (PLTU) Sumuradem in Indramayu, West Java. Yance was previously acquitted by the Corruption Court in Bandung and sentenced to 4 years in prison.
Bankruptcy Lawsuit for Petroselat
Petroselat Ltd, the subsidiary of PT Sugih Energy Tbk (SUGI) is facing a bankruptcy lawsuit filed by its two cooperation partners PT Richland Logistics Indonesia and PT Sentosasegara Mulia Shipping. The lawsuit was filed at the Commercial Court of the Central Jakarta District Court and will enter the second hearing on May 4, 2016.
Updates on Bank Bukopin v. Panghegar Group
Panghegar Group’s two subsidiaries, PT Panghegar Kana Properti and PT Hotel Panghegar, officially entered their period of temporary Suspension of Debts Payment (PKPU), after the Panel of Judges of the Commercial Court of the Central Jakarta District Court decided to grant the two PKPU petitions filed by PT Bank Bukopin Tbk (BBKP).
Ex-Lippo Exec Banned from Traveling Overseas
The Corruption Eradication Commission (KPK) requested a travel ban on Eddy Sindoro, chairman of PT Paramount Enterprise International, who was once a commissioner at Lippo Karawaci of the Lippo Group. The KPK is set to examine Eddy Sindoro in connection with the case that followed after the arrest of Doddy Aryanto Supeno, the suspected broker who was caught-in-the-act bribing an official of the Central Jakarta District Court.
Corruption in Musi Banyuasin
The corruption investigation in Musi Banyuasin, South Sumatera continues. The subject of scrutiny is the Regent’s 2014 Accountability Report and 2015 Draft of Regional Budget. On April 26, 2016 the Corruption Eradication Commission (KPK) detained 6 members of the Regional Representatives Council (DPRD) who have since been named as the latest suspects in the case. To date, the KPK has named 16 suspects, 4 of whom had been convicted.
Legislative Journal : Permenhub No. 32/2016
The Ministry of Transportation issued a Minister Regulation (Permenhub) No. 32/2016 that regulates the management of transportation not registered on any routes. This regulation is the answer to the cry for the legal basis and the protection of technology-based (mobile applications based) transportation services. But apparently, several representatives of apps-based transportation riders/drivers had already filed a citizen lawsuit before the release of the regulation.
The BLBI Case & Politics
President Joko “Jokowi” Widodo has been asked to order the Attorney General’s Office (AGO) and the National Police to reopen the investigation into the embezzlement of Bank of Indonesia Liquidity Assistance (BLBI) fund worth Rp320 trillion; the bailout the Soeharto administration issued to liquidated banks in 1997. Will Jokowi respond to this call?