I. Background The District Court of West Jakarta (the Court) has declared an English language loan agreement between a non-Indonesian lender and an Indonesian debtor null and void by operation of law since it did not contain an Indonesian language version. As a background, on 9 July 2009, the Indonesian Government enacted the Law No.…
Read detailsThe 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…
Read detailsI. 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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