01 November 2021 Singapore has grown into one of the leading jurisdictions for international debt restructuring. This has developed synergistically with its position as an international financial centre and preferred venue of international dispute resolution, particularly with the Singapore International Arbitration Centre, the Singapore International Commercial Court, and the Singapore International Mediation Centre. The recent reforms to Singapore’s insolvency and restructuring framework have allowed Singapore to compete with other leading global restructuring and insolvency jurisdictions s ..read more

We, LUBIS SANTOSA & MARAMIS (“LSM”), are pleased to announce that we have formed a Strategic Cooperation Alliance with MAKES & PARTNERS (“Makes”) aimed at bringing and combining LSM’s excellence in dispute resolution practice and Makes’ excellence in corporate finance and capital market practice, respectively. This Alliance will allow both firms to continue to ensure the added value and quality in order to provide comprehensive legal services with utmost integrity. This Alliance is also fully supported by Makes’ Pan Asia Strategic Alliance, Wong Partnership, a leading and highly reputa ..read more

Lawyers: Lelyana Santosa (Partner) / Dr. Julius Singara (Partner) / Hamonangan Buddhiwisnu Harahap (Senior Associate) / Yosua L. Situmorang (Associate) / Riska Fadilla (Associate) We are pleased to announce a very good and encouraging news that the Indonesian Supreme Court has granted an appeal filed by Nur Pamudji, former President Director of PT PLN (Persero) (State Owned Electricity Company), against a decision from the Jakarta High Court to sentence him to 7 years in prison with a fine of IDR300,000,000. The Supreme Court has found that Nur Pamudji’s action does not constitute criminal off ..read more

Lawyers: Dr. Julius Singara (Partner) / Doly James Simangunsong, LL.M. (Associate) / Adi Putra Buana Yunara Batubara, LL.M. (Associate) We are pleased to announce that on 13 April 2021 the South Jakarta District Court has granted PT PLN (Persero)’s Demurrer and rejected a pretrial motion filed by the Indonesia Solicitors at Law. Previously, on 16 December 2020, the [Indonesia Solicitors at Law] has filed a pretrial motion against: The Government of the Republic of Indonesia c.q. Chief of National Police of Indonesia c.q. Chief of Greater Jakarta Metropolitan Regional Police c.q. Chief of Sout ..read more

In the framework of performing one of the provisions of Law Number 11 of 2020 concerning Job Creation (“Omnibus Law”), particularly relating to the protection of rights and welfare of worker/labor, either during employment or post-employment, the Government issued the Government Regulation Number 35 Year 2021 regarding Fixed-Term Employment Contract, Outsourcing, Work Time, Rest Time and Termination of Employment (“GR 35/2021”). Based on its duration, there are 2 (two) types of Employment Contracts, namely the Fixed-Term Employment Contract/Perjanjian Kerja Waktu Tertentu (“PKWT”) and the Inde ..read more

Lawyers: Dr. Julius Singara (Partner) / Doly James Simangunsong (Associate/Qualified Receiver) / Dinda Raihan (Associate) / Insan Fernaldi Lubis (Associate) PT. Gunung Raja Paksi, Tbk. has been declared under the PKPU based on the Commercial Court Decision at Central Jakarta District Court Number: 432/Pdt.Sus-PKPU/2020/PN.Niaga.Jkt.Pst dated 25th January 2021. Therefore, all debt payments will be manage collectively with the Administrator Team appointed by the Commercial Court. LSM Law Firm is appointed by Loesche GmbH and PT. Loesche Indonesia (global market leader in vertical roller mill tec ..read more

Lawyers: Dr. Julius Singara (Partner) / Rando Purba (Partner) / Hamonangan Buddhiwisnu Harahap (Senior Associate) / Yosua L. Situmorang (Associate) / Adhindra Ario Wicaksono (Associate) LSM Law Firm is appointed by a State Owned Company for defending their interest in the arbitration proceeding ..read more

Previously, the Indonesian Government has issued a regulation regarding the Organization of Electronic Systems and Transactions under Government Regulation Number 71 of 2019. However, such Government Regulation has yet to provide a comprehensive and detailed provision on the organization of electronic systems by private entities. Whereas in reality, the majority of electronic systems are conducted by private entities as online-based businesses continue to grow in its popularity in Indonesia. Therefore, the Minister of Communication and Information Technology (“Minister”) recently issued Regula ..read more

In 2020, Indonesia has fallen into a recession after its economy shrank for the second consecutive quarter in the July to September period due to the COVID 19 pandemic situation, which is inarguably Indonesia’s greatest economic challenge since 1997-1998 Asian Economic Crisis. However, the Indonesian Government is optimistic that they can pursue an economic growth rate of 4.5 to 5.5% in 2021. In order to achieve said economic growth target, the government plans to attract more foreign investments that provide strategic value to the national economy by giving tax holidays to pioneering industri ..read more

Indonesia has officially entered into recession for the first time since the Asian financial crisis more than twenty years ago as the country still fighting to control the Covid-19 outbreak. In light of this severe financial impact and with the end of the pandemic nowhere in sight, many employers were forced to take measures to temporarily shut down offices and furloughed their employees in order to reduce expenses and keep the company afloat. Since employment matters are sensitive issues and should be treated carefully, the question has arisen as to the appropriate approach for employers to p ..read more