The Legal 500

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Indonesia : Banking and finance

Within Banking and finance, tier 4

At Lubis Ganie Surowidjojo, Abdul Haris Muhammad Rum recently represented the lenders in a $750m syndicated loan to Adaro Energy. Practice head Arief Tarunakarya Surowidjojo is recommended for his commercial expertise.

Indonesia : Capital markets

Within Capital markets, Lubis Ganie Surowidjojo is a third tier firm,

Arief Tarunakarya Surowidjojo leads the team at Lubis Ganie Surowidjojo, which recently handled a $300m bond issuance for Bank BTPN.

Indonesia : Corporate and M&A

Within Corporate and M&A, Lubis Ganie Surowidjojo is a third tier firm,

Among the most knowledgeable and effective legal counsels in the local market’, Lubis Ganie Surowidjojo’s strong connections with state-owned entities and major domestic companies ensures it is particularly active on infrastructure and project deals. Recent highlights include advising Japanese company Toyo Engineering on an inbound acquisition. Dr Mohamed Idwan Ganie leads the team. Arisia Arundati Pusponegoro provides ‘extensive and deep knowledge’.

Indonesia : Dispute resolution

Within Dispute resolution, Lubis Ganie Surowidjojo is a third tier firm,

Lubis Ganie Surowidjojo’s clients hold the practice in high regard for its commercial approach to cases. It recently represented energy companies in an antitrust case brought by the government’s anti-competition watchdog, the KPPU. It also acted for Credit Suisse and JP Morgan in a case regarding suspended debt repayments by a domestic manufacturing company. Dr Mohamed Idwan Ganie and Harjon Sinaga are the key contacts.

Indonesia : Projects and energy

Within Projects and energy, Lubis Ganie Surowidjojo is a third tier firm,

Lubis Ganie Surowidjojo is particularly known for its infrastructure projects expertise. Arief Tarunakarya Surowidjojo and Arisia Arundati Pusponegoro have been advising the government on legislative and contractual issues regarding its infrastructure development programme, including the multibillion-dollar Central Kalimantan Coal Railway and the Central Java Power Plant projects.

Indonesia : Real estate

Within Real estate, Lubis Ganie Surowidjojo is a second tier firm,

Lubis Ganie Surowidjojo has particular expertise in construction matters. Timbul Thomas Lubis is the key contact.

Indonesia : Restructuring and insolvency

Within Restructuring and insolvency, Lubis Ganie Surowidjojo is a first tier firm,

Lubis Ganie Surowidjojo has a well-established reputation in bank restructuring work, having acted for clients such as the Indonesian Bank Resstructuring Agency. Dr Mohamed Idwan Ganie and Harjon Sinaga recently acted for Credit Suisse and JP Morgan as creditors in a $140m suspension of payment case. Arief Tarunakarya Surowidjojo leads the team.

Indonesia : Shipping

Within Shipping, Lubis Ganie Surowidjojo is a second tier firm,

At Lubis Ganie Surowidjojo, the highly experienced Dr Mohamed Idwan Ganie leads a team that acts for Indonesian and foreign client on wet and dry shipping matters, including sale and purchases, claims, arrests and financings.

Indonesia : Tax

Within Tax, Lubis Ganie Surowidjojo is a third tier firm,

Arief Tarunakarya Surowidjojo leads the team at Lubis Ganie Surowidjojo, which has advised on due diligence and ITA applications and filings.


Legal Developments by:
Lubis Ganie Surowidjojo

  • New BKPM Regulation on Investment Licenses and Non-License Facilities

    Indonesia's Investment Coordination Board ("BKPM") issued Regulation No. 5 of 2013 on the Guide and Procedure of Investment Licenses and Non-Licenses (" Regulation 5/2013 "). The regulation replaces its predecessor Regulation No. 12 of 2009 (" Regulation 12/2009 ") and serves as the principal regulation that governs the procedure on investing in Indonesia and obtaining tax and other facilities. Regulation 5/2013 comes into force 30 working days after 12 April 2013. This newsletter will highlight important changes under Regulation 5/2013.
    - Lubis Ganie Surowidjojo

Legal Developments in Indonesia

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • New BKPM Regulation on Investment Licenses and Non-License Facilities

    Indonesia's Investment Coordination Board ("BKPM") issued Regulation No. 5 of 2013 on the Guide and Procedure of Investment Licenses and Non-Licenses (" Regulation 5/2013 "). The regulation replaces its predecessor Regulation No. 12 of 2009 (" Regulation 12/2009 ") and serves as the principal regulation that governs the procedure on investing in Indonesia and obtaining tax and other facilities. Regulation 5/2013 comes into force 30 working days after 12 April 2013. This newsletter will highlight important changes under Regulation 5/2013.
  • Implementation of the 40-30-20 Bank Ownership Rule

    In July 2012, Bank Indonesia issued Regulation No. 14/8/PBI/2012 on Shareholding in Retail Banks (" Regulation "). The Regulation caps single ownership in a retail bank for banks, non-bank entities, and individuals at 40-30-20% respectively (the so-called "40-30-20 Rule"). BI issued the Regulation as part of its policy to break up concentrated shareholding, diversify shareholders and improve bank governance.
  • REDD+ Implementation and Deforestation Moratorium Status

    Efforts to implement REDD+ in Indonesia first began with President Susilo Bambang Yudhoyono’s speech at the G20 Leaders Summit in Pittsburgh, USA on 25 September 2009, to reduce emissions from LULUCF (Land Use, Land Use Change and Forestry) by 26% by 2020 and by 41% with international support. The President’s commitment to reduce emissions was followed by Letter of Intent between the Government of the Republic of Indonesia (“GoI”) and the Government of the Kingdom of Norway on Cooperation on Reducing Greenhouse Gas Emissions from Deforestation and Forest Degradation (“LoI”), signed on 26 May 2010. This LoI also includes partnership to implement REDD+ and financial contribution from Norway to finance the efforts of REDD+ implementation in Indonesia.
  • Sarulla Business Viability Guarantee Issued

    On 11 April 2013 the Ministry of Finance issued a Business Viability Guarantee Letter (BVGL) for the Sarualla geothermal power project company pursuant to Minister of Finance Regulation No. 139/PMK.011/2011 on PLN’s Business Viability. Following the signing of the Energy Sales Contract (ESC) and Joint Operation Contract (JOC) on April 4 this allows the Sarulla project to proceed with implementation, having been initiated on 27 February 1993 but later stalled due to the 1997 financial crisis.
  • Latest Banking Law Draft

    The DPR is currently discussing the Draft Banking Law (“Draft Law”), which will repeal the current Banking Law (Law No. 7 of 1992 as amended by Law No. 10 of 1998 “Banking Law”) upon enactment. The most important changes that the Draft Law will introduce are:
  • Green Shoe Option Concept in Indonesian IPOs

    A . Introduction
  • Acquittal in an AGO-prosecuted Corruption Case Sets Out the Limits of the Law

    The Jakarta Corruption Court, a court of first instance for corruption crimes, acquitted former Merpati Airlines Director Hotasi Nababan of corruption charges. Mr. Nababan was charged over an aircraft lease agreement that went awry. Under the agreement, Merpati leased two airplanes from a US-based corporation - the two aircraft were never delivered despite Merpati having paid the security deposit. At this time, the Attorney General’s Office (AGO) has decided to appeal the decision.
  • Indonesia Under Review - March 2013

    Politics
  • US IRSs FATCAs Effects on Indonesian Financial Institutions

    What Is FATCA?
  • New Bank Indonesia Regulation on Customer Due Diligence

    Bank Indonesia has issued Regulation No. 14/27/PBI/2012 (“PBI 14/2012”) on the Implementation of the Anti Money Laundering and Prevention of Terrorism Funding for Banks to replace Bank Indonesia Regulation No. 11/28/PBI/2009. PBI 14/2012 was issued on 28 December 2012, with immediate effect, and applies to commercial banks, sharia banks and branches of foreign banks.