Regional news: Indonesia

Indonesian investor granted leave to pursue Hyflux counterclaim

An Indonesian white knight investor that allegedly broke off a restructuring plan with Singaporean water treatment company Hyflux has been granted leave to pursue a counterclaim against the company while its restructuring moratorium continues.

07 October 2019

Indonesian bank guarantors’ bankruptcy recognised in Singapore

Singapore’s High Court has recognised the personal bankruptcies of four members of an Indonesian family under common law, rejecting their argument that Singapore should require reciprocity from Indonesia before recognising a foreign bankruptcy outside the Model Law.

20 September 2019

Mining company winding-up stayed in Hong Kong

Liquidators of a Hong Kong-based mining company have won confirmation of a set-aside for the very default judgment that sparked their appointment.

21 August 2019

Online grocer seeks Singapore scheme

A Silicon Valley-backed retail start-up in Singapore has announced it will pursue a scheme of arrangement for its S$248 million debt, and appointed Oon & Bazul and DHC Capital for advice.

05 August 2019

New York court refuses summary judgment over “sham” Indonesian PKPU

Objecting noteholders of Indonesian telecoms company Bakrie Telecom have failed in their effort to block Chapter 15 recognition of the company’s Jakarta debt restructuring through summary judgment.

14 May 2019

“Woefully inadequate” disclosure dooms Singapore scheme meeting

Singapore’s Court of Appeal has cited a guarantor’s inadequate financial disclosures as its reason for overturning a decision granting it leave to convene a creditors’ scheme meeting.

30 April 2019

New York court approves pre-pack for Indonesian shipper

The SDNY bankruptcy court has approved a pre-packaged restructuring plan for Indonesian shipping company Arpeni’s Dutch note-issuing subsidiary, seven years on from the parent company’s first restructuring.

20 March 2019

Ashurst consultant returns to Hiswara Bunjamin & Tandjung in Jakarta

Hiswara Bunjamin & Tandjung (HBT) has re-hired Debby Sulaiman from Ashurst as a partner in its restructuring practice in Jakarta, where she will focus on debt restructuring and disputes.

09 August 2017

Bumi Resources seeks Chapter 15 recognition of Indonesian plan

Indonesian miner Bumi Resources has made its second request for Chapter 15 recognition in as many years, but where its previous request centred on a Singaporean restructuring, this time it has asked a New York court to recognise proceedings in Indonesia.

26 January 2017

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