Makarim & Taira S.

Makarim & Taira S., a leading law firm known for its commitment to nurturing top legal talent, proudly announces the appointment of Reagan Roy as its newest Partner.

Dear Valued Clients, Colleagues and Friends, We hope you and your loved ones are staying safe and healthy.

Introduction Under the Arbitration Law (Law No. 30 of 1999), a domestic arbitration award that has been registered by the arbitrator(s) or its proxy with the court can be annulled. The annulment request must be made in writing and submitted to the relevant district court within 30 days of the submission and registration date of the award in the registrar’s office of the relevant district court.

Brief Overview On the 25th of November 2021, under its final and binding ruling No. 91/PUU-XVIII/2020 (“Ruling”), the Indonesian Constitutional Court (Mahkamah Konstitusi - “Court”) ruled on an application for a judicial review of Law No. 11 of 2020 on Job Creation (commonly known as the “Omnibus Law”) – a law which (i) changed 78 Indonesian laws; and (ii) has been implemented by 51 implementing regulations across different sectors in hopes of boosting investment and making doing business in Indonesia easier.

On 30 July 2021, the Financial Services Authority (“OJK”) has issued OJK Regulation No. 12/POJK.03/2021 on Commercial Banks (“POJK 12/2021”). POJK 12/2021 was issued to anticipate, amongst other things, a business development and banking trend including the development and innovation of information technology. One of the interesting topics of POJK 12/2021 is the introduction of provisions on digital banks.