United Coal’s Insolvency
PT United Coal Indonesia finally fell into bankruptcy because they were unable to fulfill the obligation to pay the debt which has been stipulated in the Company’s peace proposal for its creditors. United Coal’s fate was sealed after the panel of judges of the Commercial Court of the Central Jakarta District Court granted the petition for the cancellation of peace agreement filed by two of the Company’s creditors.
The End for Asuransi Jiwa Nusantara
The dispute that lasted for nearly three years is finally over. On November 24, 2015, PT Asuransi Jiwa Nusantara (AJN) was declared bankrupt by the Central Jakarta Commercial Court after the panel of judges overseeing the case partially granted the bankruptcy petition filed by the Financial Services Authority (OJK).
Trading Manipulation: Yuanta v. RELI
The impact of default cases on the trading of the shares of PT Sekawan Intipratama Tbk (SIAP) has begun to spread. PT Yuanta Securities Indonesia and PT Reliance Securities Tbk (RELI), the two securities companies involved in the transaction of SIAP’s shares, are now on the list of disputants. Yuanta is said to have subpoenaed RELI related to disagreements on payment mechanism.
Considering Sudirman Said’s Legal Standing
The report submitted by the Minister of Energy and Mineral Resources Sudirman Said to the the House of Representatives (DPR) Board of Ethics (MKD) against the DPR Speaker Setya may not produce the outcome many would like to see. The MKD seems to think that Sudirman Said does not have the legal standing to file said report.
Aviation Journal: Optimizing Air Transportation
The Ministry of Transportation (Kemenhub) has several plans to improve the infrastructure and administration of air transportation, such as adding airport capacity, tightening the procedure of approval on airlines’ Standard Operating Procedure (SOP), and improving flight safety.
Mr. Untouchable?
The Speaker of the House of Representatives (DPR) Setya Novanto, who is also a deputy chairman of Aburizal “Ical” Bakrie’s Golkar faction, admitted that it was Muhammad Reza Chalid who accompanied him in the meetings with the leaders of PT Freeport Indonesia. In said meeting, Novanto allegedly asked for Freeport’s shares for President Joko ‘Jokowi” Widodo and Vice President Jusuf Kalla. The DPR’s Ethics Council (MKD) is investigating this allegation, but given the scope of things, shall we not have the Corruption Eradication Commission (KPK) handle the probe instead? Will the KPK be able to handle the case?
Batavia Air’s Insolvency Dispute Continues
The bankruptcy dispute between PT Metro Batavia (Batavia Air) and the team of curators in charge of the company’s bankruptcy entered a new phase. The curators recently won a lawsuit in the petition for Reconsideration (PK) to auction off Batavia Air’s office in Jalan Juanda, Central Jakarta. But the curators have, since then, been accused of embezzling Batavia Air’s assets. Batavia Air’s legal counsel subsequently reported the curators to the Jakarta Metro Police. The curators have been accused of fraud and/or embezzlement as set stipulated in the Police Report No. LP/2606/VII/2015/PMJ/Dit Reskrimum.
Indictment for Kaligis and the Reassignment of KPK Attorney
This week is an important week in the investigation process into the allegations of corruption in the Provincial Government of North Sumatra. The trial against the senior advocate Otto Cornelis (OC) Kaligis entered the reading of indictment stage, and the Attorney General’s Office (AGO) made a series of reassignments, one of which directly concerns the Corruption Eradication Commission (KPK).
Lion Air Pilot Sues The Company
Lion Air Pilot Captain Oliver Siburian sued PT Lion Mentari Airlines of Rusdi Kirana for as much as Rp5.4 billion on May this year because his employment was unilaterally terminated by the company. The pilot believed that he was sacked because he refused to operate the Jakarta-Jambi route due to problems with the aircraft’s engine in December 27, 2014.
Legislative Journal: Perpres on Fuel Gas
To accelerate the implementation of energy diversification in the form of Fuel Gas (BBG) on November 2, 2015 President Joko “Jokowi” Widodo signed a Presidential Regulation (Perpres) No. 125/2015 to amend the Presidential Regulation No. 64/2012. The BBG referred to in the new regulation is the Compressed Natural Gas (CNG).