Indonesia > Restructuring and insolvency > Restructuring and insolvency
Restructuring and insolvency
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Rated ‘very highly’ by clients, Bahar & Partners and managing partner Wahyuni Bahar acted for the bondholders in a recent restructuring by a major shareholder of a public company. Notable clients of the group have included Tyco International.
Often leveraging off the expertise of the banking and finance, capital markets and M&A teams, Hadiputranto, Hadinoto & Partners delivers a well-balanced and well-respected service. Much of the practice’s recent restructuring work has grown out of banking and M&A deals. Notably it acted for Bank Niaga on its merger with Bank Lippo, and for Bank Rabobank International on the merger its three Indonesian subsidiaries. Managing partner Timur Sukirno is ‘particularly good’.
Leveraging off its M&A practice, Hanafiah Ponggawa & Partners’s recent work includes advising on international investor issues related to the restructuring of a major petrochemical company. Notable past clients have included gas and telecoms company Inti Alasindo, and domestic oil company Pertamina. Andre Rahadian is recommended.
Lubis Ganie Surowidjojo boasts a solid track record and reputation advising on bank restructurings and was appointed as primary counsel to the Indonesian Bank Restructuring Agency (IBRA). Past clients include Kerry Coal (Mauritius), Citi Group and Goldman Sachs (Asia). Arief Tarunakarya Surowidjojo is recommended.
At Mochtar, Karuwin & Komar, Karl S. Park and Mulyana are the names to note in a practice that recently advised Procter & Gamble on the liquidation of its cosmetics division. Additional clients include the shareholders of S.Widjojo Building.
Theodoor Bakker is the main contact at Ali Budiardjo, Nugroho, Reksodiputro. The practice is well-versed at advising borrowers and lenders, in addition to receiving instructions from corporate steering committees.
Clients assert that they have ‘only good experiences’ with the team at Hiswara Bunjamin & Tandjung. Tjahjadi Bunjamin heads the practice that continues to act for foreign lenders and creditors in debt restructurings. David Dawborn is also recommended.
Rosna Chung heads the practice at Hutabarat Halim & Rekan that acted for Kemang Hasta Mitratama in the restructuring of Sanggraha Nusa Raya. Instructions on liquidations have been a common theme and include the representation of the parent companies of Ekspresindo Offshore Transport and Wattyl Dimet Indonesia.
At Makarim & Taira S., Rahayuningsih Hoed and Pudji Wahjuni Purbo have experience of restructuring for power clients including Energi Sengkang.
Headed by Ira A. Eddymurthy, Soewito Suhardiman Eddymurthy Kardono’s practice recently advised Sampoerna Agro on an internal group restructuring. It also acted for Bayan Resources (Bayan) - a holding company engaged in coal mining - on the restructuring of its existing loan agreement.
Name partner Christian Teo at Christian Teo & Associates leads on work in this area.
A notable highlight for Hadromi & Partners saw the practice advising a Japanese based group of companies on a multimillion-dollar restructuring.
KarimSyah has received instructions from debtor companies in bankruptcy proceedings, as well as advising several corporates on internal restructurings. Iswahjudi Karim leads the practice.
Highlights for Ricardo Simanjuntak & Partners include advising Orix Indonesia Finance in a bankruptcy petition against a plywood company in Kalimantan.
SS&R Legal Consultants has experience in bankruptcy law and representing clients at local courts.
Sani, Aminoeddin & Partners advises on bankruptcy, creditor schemes and suspension of payment issues.
Soemadipradja & Taher represents creditors and debtors before the Commercial and Supreme Court.