Update on Foreign Investment Regulation

The Head of Indonesian Investment Coordinating Board (Badan Koordinasi Penanaman Modal or BKPM) has issued a new Regulation No. 5 of 2013 regarding Guideline and Procedure for Licenses and Non-Licenses for Capital Investment (the New Regulation). This new regulation revokes the previous Regulation of Head of BKPM No. 12 of 2009 regarding Guideline and Procedure of…

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The Central Jakarta Commercial Court Has Set a Precedent by Declaring a State-Owned Company under the Status of Suspension of Payment

I. The Precedent The Commercial Court at the District Court of Central Jakarta (the Central Jakarta Commercial Court ) has declared PT Djakarta Lloyd (Persero) ( Djakarta Lloyd ), a state-owned company that engages in shipping business, under the status of suspension of payment (locally known as Penundaan Kewajiban Pembayaran Utang or PKPU ) based…

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