alerts & publications
Challenges Facing International Creditors in Indonesian Court Supervised RestructuringsSeptember 13, 2016
O’Melveny partner Andrew Hutton and associate Wincen Santoso recently co-authored the article “Indonesia Court Restructures Challenge International Creditors” for the September 2016 issue of International Financial Law Review.
Indonesian debtors are now more willing than ever to use the protections afforded by a domestic PKPU (a court supervised restructuring process) to achieve a binding rescheduling of their debts.
Several recent controversial decisions by the Central Jakarta Commercial Court or by the court-appointed PKPU administrators have left certain international creditors unable to prove their claims or enforce their rights.
The article tracks these recent developments and suggests a useful approach to allow international bondholders and trustees to participate and enforce their rights.
This will interest lenders, bondholders, and trustees with exposure to Indonesia, as well as their financial and other advisers. The full article is available here, and we welcome you to get in touch with the authors should you wish to discuss further.
This memorandum is a summary for general information and discussion only and may be considered an advertisement for certain purposes. It is not a full analysis of the matters presented, may not be relied upon as legal advice, and does not purport to represent the views of our clients or the Firm. Andrew Hutton, an O'Melveny partner admitted to practice law in California, and Wincen Santoso, an O'Melveny associate admitted to practice law in Indonesia and New York, contributed to the content of this newsletter. The views expressed in this newsletter are the views of the authors except as otherwise noted.
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