The Legal 500

As ‘one of the most respected practices in the country’, Ali Budiardjo, Nugroho, Reksodiputro continues to act for an impressive spread of high-profile clients. It advised Citibank on a $500m loan to the Government of Indonesia. Recent highlights include advising JPMorgan and Morgan Stanley on regulatory issues, Indonesian corporate banking business and negotiable certificates of deposits and ISDA Master Agreements. The team was bolstered by the recruitment of Philip Payne as foreign legal consultant in late 2008, from Soebagjo, Jatim, Djarot. Emir Nurmansyah and Theodoor Bakker are recommended.

The ‘very knowledgeable and prompt’ Hadiputranto, Hadinoto & Partners represented the eight mandated lead arrangers, including ABN AMRO and Standard Chartered, on a $460m senior facility agreement. It also advised Semen Gresik (Persero) as the borrower in a Rp3.5tn loan agreement with a number of local banks. Recommended partners Indri Pramitaswari, Guritno Erwandi Hendarta and Daniel Ginting make up a team that clients assert is ‘one of the finest in the country’.

Makarim & Taira S. advised PT Smelting on a $250m syndicated working capital facility. Additional clients include Standard Chartered Bank. Ratna Iskandar and Gregory Ranslam are recommended. Lina Amran was promoted to partner in January 2009.

Emir Kusumaatmadja heads the Mochtar, Karuwin & Komar team that delivers ‘timely responses, appropriate advice and very good value for money’. Demonstrating ‘excellent industry knowledge’, the practice recently advised on a $45m IFC loan to Summit Oto Finance. In addition, it conducted the due diligence on a government-linked bank for a proposed acquisition. Clients single out Gita Tiffany Boer for praise.

Soewito Suhardiman Eddymurthy Kardono had an active twelve months receiving instructions from a mix of domestic and international clients. It advised Bank DBS Indonesia on a secured bridging loan facility to Pembangunan Perumahan for the Depok - Antasari Toll Project. Darrell R Johnson headed the team that advised Avenue Capital Group in the acquisition of a majority stake in Bank Mayapada. Senior partner Ira A Eddymurthy and Susandariniare recommended. Additional clients include the Royal Bank of Canada.

Under the guidance of Tjahjadi Bunjamin, Hiswara Bunjamin & Tandjung advised Credit Suisse on its $450m secured facility to EMP Holdings Singapore. The practice boasts a successful niche advising global investment banks including Deutsche Bank, Goldman Sachs and UBS on their operations in Indonesia. Instructions in this area include advising on the establishment and maintenance of their local securities subsidiaries, and brokerage and underwriting activities. David Dawborn is also recommended.

Lubis Ganie Surowidjojo has a particular strength advising lenders on large-scale refinancings. Clients include DBS Bank, Standard Chartered Bank and ANZ Panin Bank. Name partners M Idwan Ganie and Arief Tarunakarya Surowidjojo are recommended.

Zippora Siregar leads on the majority of the transactions handled by the ‘smart, practical and responsive’ team at Melli Darsa & Co.. 2008 highlights included advising Bank Mandiri on the $102m debt restructuring of the Bosoaw Group. In addition it acted for Standard Chartered Singapore on a $60m loan financing. Melli Darsa is a ‘fabulous lawyer’, who is ‘at the top of her game, excelling across numerous practice areas’.

The ‘excellent’ Assegaf Hamzah & Partners advised Indonesia’s Ministry of Finance on its $650m sukuk issuance. Additional transactions include advising Indosat on the Rp1tr credit facility provided by Bank Central Asia. Founding partner Ahmad Fikri Assegaf is recommended.

Bahar & Partners recently advised Kaltim Prima Coal, one of the country’s biggest coal producers, in relation to a significant financing transaction. On the bank side, clients include Bank Rabobank International Indonesia and Bank Commonwealth Indonesia. Sri Rahayu and founding partner Wahyuni Bahar are recommended.

Hanafiah Ponggawa & Partners’ clients include Bank Rakyat Indonesia, Bank Niaga and Bank Syariah Mandiri. The practice regularly acts for international financial institutions including banks and boasts a particular expertise and solid clients following in Japan. Worthy of note is the team’s increased activity in Sharia-based financings. Recommended partners Fabian B Pascoal and Chadri Jurnalis work alongside the ‘very good’ Al Hakin Hanafia.

Hendra Soenardi & Rekan continues to receive instructions on an impressive number of multimillion-dollar transactions. Throughout 2008 it acted for Saptaindra Sejati and its parent company Adaro Energy on a $300m secured and guaranteed facility. Eddy Hendra is praised as a ‘smart and very commercial lawyer’ and typically leads the team.

Kartini Muljadi & Rekan offers corporate finance expertise encompassing securitisation, syndicated finance and security sharing arrangements to a mix of domestic and international clients that include The World Bank. Kartini Muljadi and Iranto Shalim are recommended.

Soebagjo, Jatim, Djarot benefits from its association with Australian firm Blake Dawson. Past instructions for the practice include acting for Bank of Tokyo Mitsubishi UFJ on a $65m loan facility and interest rate swap. Dewi Djarot and Fatmah Jatim are the names to note.

Soemadipradja & Taher delivers a ‘good service and results’ to clients that include United Overseas Bank and Standard Chartered Bank Indonesia. 2008 highlights saw the practice instructed by ANZ Banking Group on several structured financing transactions and by the International Finance Corporation (IFC) on various projects in Indonesia. Dezi Kirana and Linda Widyati are recommended.

In keeping with the firm’s strength in the projects and energy field, Widyawan & Partners acted for Bank Mandiri (Persero), as arranger, on a syndicated loan in excess of Rp1.6tn for the financing of the power plant PLTU Banjarsari. Additional clients include Lion Air and Jawa Power. Gatot Triprasetio is recommended.

Adnan Kelana Haryanto & Hermanto has a strong reputation in the market off the back of some impressive mandates for the likes Tanker Dwi Putra, who it has advised on several multimillion-dollar loan facilities. Helena Adnan is noted in this area.

DNC is well regarded for its experience on syndicated and bilateral banking and finance transactions. Recommended partner M. Arie Armand offers expertise in debt restructuring and mutual fund formation, and has acted for several large Indonesian business groups.

Clients assert that Hadromi & Partners delivers ‘value for money’. Name partner Iqbal Hadromi leads a practice that lays claim to an international client base.

Pheo M Hutabarat and Rosna Chung head the team at Hutabarat Halim & Rekan that acted for Itradiaz Investment on a $20m loan facility. Additional clients include Starworld Investment and Yellow Horizon.

At KarimSyah, Iswahjudi Karim leads a practice that is noted for its Islamic finance expertise. Boasting two additional partners it was instructed by a syndicate of local and international financial institutions in relation to syndicated Sharia financing.

Clients are quick to single out ‘top notch lawyers’ Yozua Makes and Iwan Setiawan at Makes & Partners. The practice has been advising on a S$350m credit facility involving Lippo-Mapleee Indonesia Retail Trust.

Clients describe the practice at Mataram Partners as ‘technically very able’, singling out Oliver Wright for his ‘wide range of skills and quick responses’. It recently advised a Middle Eastern-owned US bank on a $5m loan to the Indonesian Government.

Warens & Partners has a particular focus on Islamic finance work and has advised numerous Indonesian banks in this field including Bank Muamalat Indonesia and Bank Syariah Mandiri. Fachri Asaari is the name to note.