The Legal 500

WISMA GKBI, LEVEL 9, JL JEND SUDIRMAN NO 28, JAKARTA 10210, INDONESIA
Tel:
Work +62 21 574 0088
Fax:
Fax +62 21 574 0068
Web:
www.soemath.com
Email:

Indonesia : Banking and finance

Within Banking and finance, tier 4

Soemadipradja & Taher’s clients include Indonesian and foreign banks, and insurance companies. The practice continued to advise Indonesia Infrastructure Finance on 3-step loans provided by World Bank and Asian Development Bank. It also represented Bank Muamalat Indonesia in a Rp1.5 trillion sukuk bond issuance. Linda Widyati and Dezi Kirana lead the team.

Indonesia : Capital markets

Within Capital markets, Soemadipradja & Taher is a second tier firm,

Soemadipradja & Taher’s ‘excellent team’ is led by Linda Widyati, who provides ‘strong expertise and negotiation skills’. It has been advising Bank Syariah Muamalat on its Rp1.5 trillion sukuk issuance, and also represented GMR Energy on the IPO of a stake in Golden Mines Energy.

Indonesia : Corporate and M&A

Within Corporate and M&A, Soemadipradja & Taher is a second tier firm,

Soemadipradja & Taher advises clients such as Tata Group, IBM Indonesia and Newmont Subsidiaries on general corporate and regulatory matters. The ‘knowledgeable’ Linda Widyati and Dezi Kirana lead the team, which recently advised GMR Energy on a $500m stake acquisition in Golden Energy Mines. The practice also advised Vallar on a proposed billion-dollar acquisition of Bumi Resources Minerals.

Indonesia : Dispute resolution

Within Dispute resolution, Soemadipradja & Taher is a second tier firm,

Soemadipradja & Taher represents Indonesian and international clients such as Standard Chartered Bank, Newmont and Astro Networks. Practice head Hafzan Taher handles a broad range of corporate and commercial matters, including shareholder, product liability and financial disputes.

Indonesia : Employment

Within Employment, Soemadipradja & Taher is a first tier firm,

Soemadipradja & Taher’s practice is jointly led by Hafzan Taher and Rahmat Soemadipradja and handles the full spectrum of employment law matters. Clients include Orica Services, Newmont Nusa Tenggara, National Australia Bank and Research in Motion.

Indonesia : Projects and energy

Within Projects and energy, Soemadipradja & Taher is a second tier firm,

Soemadipradja & Taher’s Rahmat Soemadipradja and Dezi Kirana jointly head the practice, which advises on matters across the oil & gas, mining and power sectors. It continues to advise Tata Power and Sumatra Copper & Gold on mining investments, and assisted BHP Billiton on developing the IndoMet coal project. The practice also acted for GMR Energy on its $500m acquisition of a stake in Golden Energy Mines. Fadjar Widjaksana Kandar and Haydn Dare are also recommended.

Indonesia : Real estate

Within Real estate, Soemadipradja & Taher is a first tier firm,

Soemadipradja & Taher advises on a range of commercial, residential, retail and industrial real estate matters for a number of foreign clients. It recently handled leasing issues and assisted on acquisitions for mining and luxury hotel operator clients. The practice also draws on its strong litigation expertise, with Hafzan Taher representing a number of companies in land disputes. Linda Widyati and Dezi Kirana are the key contacts.

Indonesia : Restructuring and insolvency

Within Restructuring and insolvency, Soemadipradja & Taher is a second tier firm,

Soemadipradja & Taher regularly advises institutional and financial sector clients on restructuring and insolvency matters. It has acted for the Indonesian Deposit Insurance Corporation on restructuring a number of banking groups, and has also been representing KPMG Singapore in cross-border insolvency proceedings.

Indonesia : Shipping

Within Shipping, Soemadipradja & Taher is a second tier firm,

Fadjar Widjaksana Kandar’s team at Soemadipradja & Taher continues to advise foreign companies on maritime, admirality, finance and corporate matters. A Raptis & Sons is a key client.


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.