The Court Rejected Suryadharma Ali’s Appeal
The Jakarta High Court reportedly rejected the appeal filed by the former Minister of Religious Affairs and the PPP politician Suryadharma Ali—he was found guilty of mismanaging the organization of Hajj and abusing the Ministerial Operation Funds (DOM). The High Court read said decision on May 19, 2016 but the Corruption Eradication Commission (KPK) received the formal notice on May 30, 2016. In addition to rejecting the petition, the Panel of Appeal’s aggravated Suryadharma Ali’s sentence by adding a new sentence.
Prada v. Manggala Putra Perkasa (Part II)
The trademark dispute between Prada SA against PT Manggala Putra Perkasa (MPP) continues. The Commercial Court of the Central Jakarta District Court granted the lawsuit filed by Prada SA and annulled the same trademark registered by MPP in the Directorate General of Intellectual Property (Ditjen HKI) on April 2016, but on May 2016, MPP decided to challenge the verdict.
Updates on Geo Cepu’s PKPU
The Commercial Court of the Central Jakarta District Court decided to give PT Geo Cepu Indonesia (Geo Cepu), the partner of PT Pertamina EP, additional time for its Suspension of Debt Payments (PKPU). With this decision, Geo Cepu officially entered their period of fixed PKPU and have an additional 60 days to revise their peace proposal.
The Collapse of Inovisi Infracom: Where’s The Money? (2)
Inovisi Infracom (INVS) was a small company with sales revenue of Rp48 billion in 2008, but then jumped to Rp88.7 billion in 2009, mainly to the growing campaigns through people’s phone/gadget, which was classified ‘unwarranted SMS’ or premium SMS. They skyrocketed in 2010-2011 before the government changed the policy because of public outcry over the so-called ‘phone credit theft’.
The Collapse of Inovisi Infracom: Where’s The Money?
Three years ago, Inovisi Infracom (INVS), whose business include ICT and coal mining—-what a strange combination, was valued US$1.5 billion or so. Trading in the stock, however, has been suspended since February 2015. At the last quoted price, Inovisi’s market value is Rp1.17 trillion or about US$86 million. If the suspension is lifted, the stock might fall further to Rp50, the lowest quotable price on IDX.
The High Court of East Java v. La Nyalla (2)
On May 30, 2016 the High Court of East Java issued a new warrant of inquisition (Sprindik) on a case of alleged corruption implicating the Chairman of the Football Association of Indonesia (PSSI) La Nyalla Mattalitti. The day after, after being in hiding for more than two months, La Nyalla was captured by authorities in Singapore and deported to Indonesia. La Nyalla is now detained at the Salemba Prison in the complex of the Attorney General’s Office for the sake of investigation. He will remain in custody for 20 days.
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.