Banten Govt Bails Out Bank Pundi (2)
Ricky Tampinongkol, former CEO of PT Banten Global Development (BGD), which acquires Bank Pundi (BEKS), has recently been sentenced 2 years and six months jail for corruption in the establishment of Bank Banten. Earlier, the Banten Legislative Council (DPRD) urged Banten provincial government to stop the plan to acquire Bank Pundi.
Updates on Damayanti’s Case
The investigation into the bribery involving the member of the House Commission V of the House of Representatives Damayanti Wisnu Putranti is reportedly over, with Damayanti’s indictment file ready to be transferred to the court. In addition, some new facts were disclosed before the court during the trial against the Director of PT Windhu Tunggal Utama (WTU) Abdul Khoir.
Going After Nazaruddin’s Wealth
The trial on Muhammad Nazaruddin’s alleged money laundering continues. The Corruption Court of the Central Jakarta District Court heard the charges from the Public Orosecutors on May 11, 2016. The Corruption Eradication Commission (KPK) Prosecutors demanded the Court to sentences Nazaruddin to 7 years with the obligation to Rp1 billion in fine, subsidiary 1 year confinement. The Prosecutors also requested the confiscation of Nazaruddin’s assets worth Rp600 billion. This requested confiscation is the largest in value in the history of KPK’s prosecution.
Towards the Third Phase of Death Penalty Execution
At the beginning of 2016 the Government revealed plans to execute 14 people on death row. This would be the third execution round conducted since 2015. But this week, the Central Java Police revealed that the Government plans to execute15 convicts instead and that the execution would be conducted this month.
Updates on the Corruption in the Ministry of Transportation
The Corruption Court of the Central Jakarta District Court held the hearing of indictment against the non-active Director General of Sea Transportation Bobby Mamahit on May 9, 2016. The public prosecutors of the Corruption Eradication Commission (KPK) indicted Bobby for committing graft in the Phase III Development of the Education and Training Center for Marine Studies (BP21P) under the Ministry of Transportation in 2011. The State incurred losses in the amount of Rp40.19 billion because of the crime.
Updates on Dewie Yasin Limpo’s Bribery Case
The court hearing on the bribery case involving the ex-Hanura politician Dewi Yasin Limpo continues. The Corruption Court of the Central Jakarta District Court read aloud the charges against Dewi’s personal assistant Rinelda “Ine” Bandaso on May 9, 2016. With this verdict, three of the five defendants in this case have been sentenced.
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.