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Michael S Carl

Work +62 21 521 2038
SSEK Legal Consultants


Foreign Legal Advisor


Michael S. Carl is a foreign legal advisor at SSEK. Mr. Carl's practice is oriented toward energy, mining, infrastructure, finance, insolvency restructurings, mergers and acquisitions, and banking transactions.

Before joining SSEK, Mr. Carl was associated with the international law firm Baker & McKenzie in its Singapore and Bangkok offices, where he represented Indonesian and Thai concerns in US debt and equity offerings and debt restructurings. He was also previously associated with Milbank Tweed Hadley & McCloy and Coudert Brothers.

Mr. Carl is recognized by Chambers Asia-Pacific as a leading practitioner in the fields of banking and finance, corporate/M&A, projects and energy, real estate, and telecommunications. He has been acknowledged by the IFLR1000 as one of Indonesia’s top financial, corporate, mergers and acquisitions, and project finance lawyers, and by the Legal 500 as a leading practitioner for restructuring and insolvency. He is an Asialaw Leading Lawyer and is included in the Who’s Who Legal guides to the world’s leading capital markets and mining lawyers.

In 2012, Mr. Carl was voted an External Counsel of the Year for Indonesia by the readers of Asian-MENA Counsel, who cited his wide-ranging knowledge and experience with Indonesian law and his responsiveness to client needs.

Mr. Carl's experience includes:

  • Acting for China Shenhua Energy Company Limited as Indonesian counsel in the successful bids for the Jawa-7 2x1000 MW and SumSel-1 2x300 MW coal-fired power projects.
  • Acting for the IFC in preparing model documentation, including a model PPA and government guarantee, for the 2x1000 MW Central Java coal-fired IPP project
  • Representing a consortium headed by PT Pamapersada Nusantara, the largest mining services company in Indonesia, in a bid to develop a proposed 2x300 MW mine mouth coal-fired IPP in Riau, including review of the PPA and bid documents.
  • Representing the Sponsors, principally China Hongqiao Group Ltd., in the development of Indonesia’s first alumina refinery.
  • Advising China Construction Bank in the acquisition of a 60% interest in PT Bank Windu Kentjana International Tbk.
  • Advising a steering committee of US dollar bondholders in the court-supervised restructuring of PT Bakrie Telecom Tbk.
  • Representing Vi Holding in the acquisition of a majority stake in a nickel mine and related joint venture arrangements, including for the development of a nickel smelter.
  • Representing Oiltanking GmbH in a greenfield development of a petroleum tank farm in Karimun.
  • Advising a major Indonesian conglomerate in various governance inquiries by European and American joint venture partners.
  • Representing Intrepid Mines Limited, a leading junior mining company listed in Australia and Canada, in the development of Tujuh Bukit, a world-class gold-copper-silver deposit in East Java, particularly advising in relation to complex forestry issues and evolving mining legislation, and in a dispute with its joint venture partners over ownership of the mine.
  • Advising a major Indonesian conglomerate in various potential mining acquisitions.
  • Advising a major Korean conglomerate, in various potential mining acquisitions.
  • Advising secured creditors class in the court-supervised debt restructuring of PT Berlian Laju Tanker Tbk, the largest court-supervised debt restructuring in the history of Indonesia.
  • Acting for PT Arpeni Arpeni Ocean Line Tbk, the largest dry bulk shipping company in Indonesia, in one of the most complicated debt restructurings in the history of Indonesia, including a court-supervised Composition Arrangement, Chapter 15 recognition of that Composition Arrangement in the United States, a mandatory exchange offer for high-yield US dollar bonds, and substantial representations in litigations.
Mr. Carl advised PT Arpeni Pratama Ocean Line on one of the most complicated debt restructurings in Indonesian history. The deal was recognized by IFLR and Asian-MENA Counsel as a Restructuring Deal of the Year.

One client told IFLR1000: "Michael Carl delivers good, solid and pragmatic advice. He understands business needs and constraints." Another told IFLR100: "Mike has an excellent technical grasp of both Indonesian law and the Indonesian language, which makes him unique amongst the expatriate lawyers in Jakarta."


English, Indonesian


California State Bar


Mr. Carl received his JD in 1994 from the University of California at Berkeley (Boalt Hall) School of Law. He obtained a BA in History from Harvard University in 1988 and an MA in Economics from the University of Hawaii in 1990. He was a graduate fellow at the East-West Center in Hawaii. Mr. Carl earned an Indonesian law degree in 2012 from Atma Jaya University in Jakarta.


Capital markets

Within: Capital markets

SSEK Legal Consultants specialises in capital markets compliance relating to M&A and foreign ownership in Indonesian corporates. Ira Eddymurthy heads the practice, and Michael Carl advised Louis Dreyfus Commodities Indonesia on compliance with Indonesia’s mandatory divestment requirements.

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Corporate and M&A

Within: Leading individuals

Michael Carl - SSEK Legal Consultants

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Restructuring and insolvency

Within: Leading individuals

Michael Carl - SSEK Legal Consultants

Within: Restructuring and insolvency

Michael Carl and Denny Rahmansyah lead SSEK Legal Consultants’ bankruptcy team, which has recently been involved in a number of restructurings for clients such as Bakrie Telecom and Berlian Laju Tanker. The group also represents corporates in contentious restructurings, and is particularly experienced in handling disputes for mining clients.

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