Finding Investors for Super Makmur and Super Eximsari
PT Super Makmur and its sister company PT Super Eximsari Ltd can breathe a sigh of relief. The Commercial Court in the Central Jakarta District Court approved the two companies’ request to extend the time limit for their Suspension Of Debt Payments (PKPU).
The Ministry of Industry & the Economic Policy Packages
We’ve briefly outlined the Ministry of Trade’s tasks in relation to the economic policy packages that the Government of Joko “Jokowi” Widodo have issued recently. We are now going to talk about the the tasks of the Ministry of Industry (Kemenperin) in relation to said economic policy packaged.
Update on Gatot’s and Evy’s Case
The Corruption Eradication Commission (KPK) is said to have completed assembling the investigation files on the disgraced North Sumatra Governor Gatot Pujo Nugroho and his second wife Evy Susanti. The files have been transferred to the Public Prosecutor Team, who will then design the indictment against said suspects. Around the same time, Gatot and Evy have reportedly volunteered themselves to act as Justice Collaborator for the KPK.
Meranti Maritime v. Maybank Indonesia
After surviving a petition for Suspension of Payment (PKPU) filed by one of its creditors, PT Meranti Maritime has to again face a PKPU from PT Maybank Indonesia.
The Ministry of Trade and the Economic Policy Packages
To date, the Government has announced six economic policy packages. The Ministry of Trade (Kemendag) has been given the most duty from the administration of President Joko “Jokowi” Widodo for regulatory overhaul. The Kemendag claims that it must reconfigure 35.5% of its existing regulation.
On Gary’s Prosecution
On November 25, 2015 the Corruption Court of the Central Jakarta District Court held a hearing for the charges against M Yagari “Gary” Bhastara Guntur. In said trial session, Gary’s legal counsel raised an interesting question, why hasn’t the Corruption Eradication Commission (KPK) focused on the involvement of Yurinda “Indah” Tri Achyuni?
Tracing Nazaruddin’s Money
Three years have passed since the former Democratic Party Treasurer Muhammad Nazaruddin was named as a suspect in a money laundering case. On November 25, 2015, the Corruption Eradication Commission (KPK) finally handed over Nazaruddin’s case file to the court and moved Nazaruddin to KPK’s Guntur Prison. Nazaruddin will once again face prosecution in December 2015.
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.