Restructuring and insolvency in Indonesia
ABNR Counsellors at Law
ABNR Counsellors at Law regularly acts for global financial institutions on restructuring and insolvency issues. The team is led by Emir Nurmansyah and Theodoor Bakker, who both predominantly act on the creditor side in major insolvencies and restructurings. Kevin Sidharta is also a key figure.
Practice head(s):
Emir Nurmansyah; Theodoor Bakker
Other key lawyers:
Testimonials
‘ABNR provides high-quality one-stop-shop services.’
Key clients
Marubeni Corporation
China Development Bank
First Ship Lease
Standard Chartered Bank
Sumitomo Mitsui Banking Corporation
Credit Saison Co. Ltd
Deutsche Investitions und Entwicklungsgesellschaft
JP Morgan
International Finance Corporation
Royal Bank of Scotland
Lufthansa Technik AG
International Aero Engines AG
Rolls-Royce & Partners Finance Limited
International Lease Finance Corporation
Work highlights
- Advised China Development Bank and Madison Pacific Trust on a court-sanctioned debt moratorium and restructuring.
- Represented Deutsche Investitions-und Entwicklungsgesellschaft, a secured creditor, during all stages of the voluntary bankruptcy process initiated by PT Biltube Indonesia, the Indonesian subsidiary of an India-based packaging company.
- Represented Deutsche Investitions-und Entwicklungsgesellschaft, a secured creditor, during all stages of the Indonesian court-sanctioned debt restructuring process and subsequent bankruptcy process (PKPU) of PT Wirajaya Packindo, an Indonesian pulp and paper producer.
- Represented Saison Modern Finance in Modern Sevel Indonesia (7-Eleven)’s Indonesian court-sanctioned debt restructuring process (PKPU). The debtor, which is part of Modern Group, was the holder of the now defunct 7-Eleven franchise in Indonesia up to mid-2017.
- Advised AJE Indonesia on countering a PKPU petition filed by its creditor, PT Cahaya Muda Kreasi
Hadiputranto, Hadinoto & Partners, a member firm of Baker McKenzie
Hadiputranto, Hadinoto & Partners, a member firm of Baker McKenzie's dispute resolution practice is experienced in restructurings and insolvencies pertaining to the financial services, TMT, energy, manufacturing, real estate, private equity and insurance sectors. Timur Sukirno leads the practice and regularly acts on suspension of payment processes and out-of-court settlements. Andi Kadir is also highly active in restructuring deals.
Practice head(s):
Timur Sukirno
Other key lawyers:
Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills
Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills is a popular choice for multinational companies for advising on restructuring and insolvency issues. Debby Sulaiman leads the practice and has acted for clients in both local and international courts to resolve bankruptcy and insolvency issues.
Practice head(s):
Debby Sulaiman
Key clients
The Islamic Corporation for the Development of the Private Sector
China Investment Corporation Limited
China Development Bank Corporation
Credit Suisse AG, Singapore Branch
Axis Bank Limited, Hong Kong Branch
Deutsche Bank AG, Hong Kong and Singapore Branches
UBS AG, Singapore Branch
Raiffeisen Bank International AG, Singapore Branch
Standard Chartered Bank
Molucca Holdings S.a.r.l. 2
CIMB Bank (L) Limited
Work highlights
- Representing Passion Way Holdings in the debt restructuring of SAIP, an Indonesian pulp and paper company.
- Representing Standard Chartered Bank, Singapore in the $19m debt restructuring of the 7-Eleven franchise holder in Indonesia.
- Advised Molucca Holdings on its IDR1.1tn debt restructuring petition against PT Pelita Cengkareng Paper.
- Advising CTBC Bank as part of a lender consortium in the debt restructuring of PT Royal Industries.
- Representing Chinese companies AHCOF International Development Co Ltd and Tianjin Tianbao Century Development Co Ltd in the debt restructuring of PT Asia Petrocom Services
Makarim & Taira S.
Makarim & Taira S. advises on bankruptcy, restructuring and insurance liability issues. Alexandra FM Gerungan co-heads the practice and regularly represents creditors in relation to payment delays and bankruptcies. Also leading the team is Lia Alizia, who is very strong in advising multinational companies on restructuring issues. Kurniawan Tanzil, who heads the banking and finance team, is also very experienced in handling debt restructurings.
Practice head(s):
Alexandra FM Gerungan; Lia Alizia
Other key lawyers:
Key clients
Yonder Music
Kerry Group Plc
Blueback Global
Club Med Asia Pacific
Media Development Investment Fund
Kepco SPC Power Corporation
Axis Bank
SSEK Legal Consultants
SSEK Legal Consultants' restructuring and insolvency practice has an enviable client roster of multinational companies. Michael Carl leads the practice and has acted on litigation and arbitration concerning debt restructuring. He is supported by Dewi Savitri Reni, who is also skilled in debt restructuring arbitration.
Practice head(s):
Michael Carl
Other key lawyers:
Assegaf Hamzah & Partners
Assegaf Hamzah & Partners has a strong track record in both restructuring and insolvency deals. Ahmad Fikri Assegaf leads the team and is highly skilled in handling corporate debt restructurings, takeovers and recapitalisations. Ibrahim Sjarief Assegaf is also highly experienced in restructuring and insolvency matters.
Practice head(s):
Ahmad Fikri Assegaf; Ibrahim Sjarief Assegaf
Key clients
Royal Industries Indonesia
Tael Partners
Bank Danamon Indonesia Tbk
Bank Permata Indonesia
Raiffeisen Bank International A.G.
Intesa Sanpaolo S.p.A.
HSBC Bank plc
Pathfinder Strategic Credit II LP
ACP I Trading LLC
Work highlights
- Assisted Tael Partners with a debt and company restructuring for its divestment in PT Lumbung Padi Indonesia.
- Advised palm oil company Royal Industries Indonesia on a restructuring.
- Assisted with the sale of Bank Danamon’s non-performing loans to Collectius AG.
- Represented the offshore creditors in the suspension of debt payment proceedings of PT Apexindo Pratama Duta and in negotiating the composition plan.
Mochtar Karuwin Komar
Mochtar Karuwin Komar is highly experienced in debt restructurings and is currently very active in the aviation sector. Banking and finance expert Emir Kusumaatmadja handles most of these mandates.
Practice head(s):
Emir Kusumaatmadja