Tag: BOLT

PKPU and Bankruptcy Journal : BOLT and Kertas Leces

by | Sep 19, 2018 | | 0

The Commercial Court of the Central Jakarta District Court finally granted the lawsuit for Suspension of Debts Payment (PKPU) filed against  PT Internux (Lippo Group), operator of BOLT. The Company is now in the temporary PKPU period which will last for 44 days. Meanwhile, the Commercial Court of the Surabaya District Court has postponed the last hearing in the trial of cancellation of peace agreement of PT Kertas Leces (Persero), a State-owned Enterprise (BUMN). The hearing is rescheduled to next week and it will determine the BUMN’s fate.

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Law Journal

by | Aug 29, 2018 | | 0

We recently reported on the lawsuits involving PT Internux (Lippo Group), operator of BOLT. The creditors of the Company have given their statement to the national media outlets. From the financial statements of PT First Media Tbk (KBLV) we learned more details of the problems. Meanwhile, the Corruption Eradication Commission (KPK) faced another pre-trial lawsuit filed by four suspects snared in the North Sumatera’s graft case. The first hearing was held this week and the trial is expected to be over by next week.

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Lawsuits around BOLT

by | Aug 27, 2018 | | 0

Earlier this year, we reported that the Ministry of Communications and Informatics had filed a cassation against the appeal verdict given by the Jakarta High Court, which upheld the verdict given by the Central Jakarta District Court in a dispute against PT Internux (Lippo Group), operator of BOLT. The examination of the cassation petition is ongoing, but since then, Internux has been facing and working on other lawsuits. By the end of 2017, the Company filed a lawsuit against PT Huawei Tech Investment. Two weeks ago, the Company filed a lawsuit against seven parties including Raiffeisen Bank International AG. Earlier last week, the Company must face a lawsuit for Suspension of Debts Payment (PKPU) filed by two of its creditors.

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Market Snapshots

by | Jul 18, 2018 | , | 0

Major stock indexes in the Asia-Pacific region closed lower on Tuesday (July 17), mainly dragged down by energy shares after a fall in oil prices in the previous session. Investors also opted to sell stocks yesterday, as they did the previous day, after data showed China’s economy expanded at a slower pace in the second quarter on the back of softer global trade and the tightening of financial policy.

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BOLT v. Ministry of Communication and Informatics

by | Feb 1, 2018 | | 0

PT Internux (Lippo Group), operator of BOLT was the only service provider operating at a frequency of 2,300 Mhz. This changed in 2014 when the Government through the Ministry of Communications and Informatics decided to grant permission to PT Smartfren Telecom Tbk (FREN) (previously owned by Bakrie family, then sold to MNC Group, and now controlled by Sinar Mas Group) to operate at the same frequency beginning in mid-2015. In 2016, Internux filed a lawsuit and demanded compensation for the Ministry’s decision. Internux won the lawsuit at the district court level. A few days ago, the Ministry declared they had filed a cassation against the previous verdict. But in addition to this dispute, Internux is also in dispute with PT Huawei Tech Investment, and asked for a compensation of Rp8 trillion.

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