Law Journal: Bumi Asih Jaya Disputes, and Merpati Airlines’ PKPU

It has been two years since the life insurance company PT Asuransi Jiwa Bumi Asih Jaya (AJBAJ) started their dispute with the Financial Services Authority (OJK) in court. The Company was deemed bankrupt in August 2015, but quickly rejected the decision and fought to the stage of Reconsideration. In late 2017, the Central Jakarta District Court registered a new lawsuit filed by AJBAJ against the OJK. This time, AJBAJ wanted the court to affirm their opinion that the OJK’s lawsuit was unlawful. The mediation process went on, but both parties failed to reach an agreement. The trial continues. Meanwhile, in the Commercial Court of the Surabaya District Court, the supervisory judge in the PKPU process for Merpati Airlines accepted the result of the vote between the creditors to grant the Merpati 120 additional days to draw up their debts repayment scheme and proposal. 

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