March 11th, 2014 david
By Dewi Mayangsari and Dewi Savitri Reni
Law Number 37 of 2004 regarding Bankruptcy and Suspension of Debt Payments (the “Bankruptcy Law”) stipulates that the fees for Administrators and Receivers are decided after the bankruptcy or the Suspension of Debt Payment Obligations (Penundaan Kewajiban Pembayaran Utang or “PKPU”) is concluded.
While there is some subjectivity in determining the fees of Administrators and Receivers, the fees must follow the guidelines set by the Ministry of Law and Human Rights (“MOLHR”) in Regulation Number 1 of 2013 regarding Guidelines for Fees of Receivers and Administrators (“MOLHR Reg 01/2013″). Under this Regulation, the fees for Administrators and Receivers depend on the particular case, as elaborated on below.
While establishing fee guidelines, MOLHR Reg 01/2013 also seems to have discouraged creditors from pursuing bankruptcy proceedings, for fear that they will be saddled with the Receiver fees. Read more »
March 7th, 2014 david
By Ira A. Eddymurthy and Ryan A. Budiharjo
Indonesia’s House of Representatives (Dewan Perwakilan Rakyat or “DPR”) recently passed into law the trade bill. The new Trade Law is still awaiting the signature of the President.
There are several points of the new Trade Law in particular that should be highlighted and could affect companies in Indonesia. These points are related to (i) domestic and international trade activities, (ii) labeling, (iii) the standardization of trade goods, (iv) e-commerce transactions, (v) international trade security for exports and imports, (vi) export business facilities, (vii) warehouse registration, and (viii) the requirement for business service providers to have competent technical personnel. Read more »
March 3rd, 2014 david
By Florence Gracia Santoso
After a long and contentious discussion involving many interested parties, the Government of Indonesia issued a regulation that bans the export of raw minerals/ores. Government Regulation No. 1 of 2014 (GR 1/2014) was issued on January 11th, 2014, one day before the deadline for the domestic processing and refining of raw minerals/ores as mandated by the 2009 Mining Law. GR 1/2014 requires mining companies to process and refine raw minerals/ores in Indonesia. Read more »
February 21st, 2014 david
Soewito Suhardiman Eddymurthy Kardono was again ranked as one of the best firms in Indonesia in the 2014 Chambers Asia-Pacific guide to the region’s leading firms and lawyers.
SSEK was recognized in all the major practice areas, including in the key practice areas of Corporate/M&A and Real Estate, where SSEK received the highest ranking.
Chambers researchers also placed SSEK among the leading firms in Indonesia for Banking and Finance, Employment, Projects and Natural Resources, Dispute Resolution, and Capital Markets.
SSEK was short-listed for Indonesian National Firm of the Year, and honor that SSEK received from Chambers in 2013 and 2011. Read more »
February 20th, 2014 david
By Richard D. Emmerson and Dicky Tanjung
On December 30, 2013, the Indonesian Minister of Manpower and Transmigration (“MOMT”) issued MOMT Regulation No. 12 of 2013 regarding Procedures for Employing Foreign Manpower (“MOMT Reg 12″). This new regulation revokes the 2008 MOMT Regulation (No.PER.02/MEN/III/2008) on the same subject.
The new regulation contemplates several changes to the previous 2008 regulation and introduces a useful new mechanism on the temporary hiring of a foreign worker. The more salient points of the new regulation are as follows: Read more »
February 12th, 2014 david
One of the challenges for many companies in the oil and gas industry is operating across multiple jurisdictions where employment laws and company policies may differ. The Employment Law Alliance is offering a free webinar on Thursday, February 27, to discuss some of the most common and important issues facing employers in the oil and gas industry.
Topics to be covered include:
- Internationalization, including the legal challenges of bringing in workers from other countries and contractually protecting workers who are sent abroad.
- Atypical work arrangements and efforts to avoid the creation of traditional employment relationships, and the corresponding legal risks and challenges associated with using consultants, independent contractors and agency workers.
- The use of drug and alcohol, fitness for return to duty, and other forms of safety-related testing designed to ensure an accident-free workplace. Read more »
February 5th, 2014 wira
Please find attached the latest Legal Alert for January 2014.
SSEK’s Legal Alert is a monthly survey designed to keep you up to date with the latest legal developments in Indonesia.
Click here: Legal Alert January 2014
February 3rd, 2014 david
In its latest Indonesian Economic Quarterly report, the World Bank projects slowing growth in 2014 and says that risk remains high. To counter slowing growth, according to the report, additional and more focused policy responses are needed.
Looking at Foreign Direct Investment, the report says more Government support for FDI in Indonesia is needed. It suggests a pro-investment revision of Indonesia’s Negative Investment List (“DNI”), and “strengthening the quality of the overall investment policy formation process to minimize policy uncertainty.”
It also urges the implementation of a policy package announced in October to improve the ease of doing business in Indonesia.
You can see the full report on the World Bank website.
January 23rd, 2014 david
By Ira A. Eddymurthy and Tengku Almira Adlinisa
Indonesia’s insurance industry has seen a number of important recent developments, and more are on the horizon. These include the enactment on October 3, 2012, of Minister of Finance Regulation No. 152/PMK.010/2012 regarding Good Corporate Governance for Insurance Companies (“MOF Regulation No. 152″) and the long-awaited new Insurance Law that is being discussed at the House of Representatives (“DPR”).
With regard to MOF Regulation No. 152, there has been confusion over some of the provisions in the Regulation. The Indonesian Life Insurance Association (Asosiasi Asuransi Jiwa Indonesia or “AAJI”), on behalf of life insurance companies in Indonesia, requested clarification from the Financial Services Authority (Otoritas Jasa Keuangan, or “OJK”) on these points of confusion. Read more »