Advised the Indonesian Government regarding World Trade
Organization negotiations concerning market access and national
treatment restrictions in various service related sectors.
Conducted analysis of Indonesian laws and regulations
related to World Trade Organization negotiations concerning market
access and national treatment restrictions in various service
related sectors pursuant to consulting contracts with USAID.
Represented the following consortium of lenders in defense of their USD1,000,000,000 (billion) financing of a
USD2,000,000,000 pulp and paper mill in Sumatra, Indonesia. Lenders
represented: PT Bank Mandiri Tbk.; AB Svensk Exportkredit (Publ);
Sakura Finance Asia Limited; Nordea Bank Finland Plc, London Branch;
Nordea Bank Finland Plc, Singapore Branch; Capita Corporation; The
Bank of Tokyo-Mitsubishi, Ltd.; The Fuji Bank, Limited, Singapore
Branch; Korea First Bank; Resolution & Finance Corporation;
Bayerische Landesbank Girozentrale, Singapore Branch; The Daiwa
Bank, Limited, Singapore Branch; Berliner Bank AG; The Mitsubishi
Trust and Banking Corporation; The Sumitomo Trust and Banking
Company, Limited; Bank of Scotland; Daedong Bank; Dongnam Bank;
First Commercial Bank; The Chuo Mitsui Trust and Banking Company
Limited; The Norinchukin Bank; Shinhan Bank; Sumitomo Mitsui Banking
Corporation; Mizuho Asset Trust & Banking Co., Ltd.; Asian Banking
Corporation; Bank Austria Aktiengesellschaft; Hanil Bank; Housing
And Commercial Bank; Skandinaviska Enskilda Banken AB (Publ); Sampo
Credit Plc.; Kreditantstalt Fur Weideraufbau; The Sakura Bank,
Limited, Singapore Branch; Export Development Canada; Nordea Bank
Helsinki; Mizuho Corporate Bank, Limited; Mizuho Corporate Bank,
Ltd; Bankgesselschaft Berlin AG; Newcourt Capital (CIT Group);
Metropolitan Life Insurance Company; Kookmin Bank; Hanvit Bank;
Woori Bank; Resolution and Finance Corporation; Woori First Asset
Securitization Speciality Co., Ltd.; Woori LB First Asset
Securitization Speciality Co., Ltd; Finnvera Plc.; Hermes
Kreditversicherungs AG; Exportkreditnamden (EKN); PT Bank Sumitomo
Mitsui Indonesia.
Represented Mizuho Corporate Bank, Ltd., The
Sumitomo Trust & Banking Co., Ltd., Sumitomo Mitsui Banking
Corporation, Dresdner Bank AG and The Norinchukin Bank in the
recovery of outstanding balances owed by PT. Satomo Indovyl Monomer
(an ethylene dichloride and vinyl chloride monomer producer) under a
US$94,500,000 (million) Loan Facility Agreement following a hostile
takeover bid brought by a principle chlorine feedstock supplier
through aggressive litigation and bankruptcy actions.
Represented Chevron’s and Texaco’s joint operating
company Amoseas Indonesia Inc. in the historic first appeal
of a Tax Court ruling to the Indonesian Supreme Court concerning
value added tax deferment issues of approximately USD10,000,000
(million) relating to oil and gas exploration activities in
Indonesia.
Represented and defended a Malaysian consortium composed of Perspec Prime (Malaysia) Sdn. Bhd., Road Builder (M) Sdn.
Bhd., Comtrac Sdn. Bhd. and Ranhill Corporation Sdn. Bhd. (a
consortium which was created upon the request of the Indonesian
President by the Malaysian Government’s Presidential Cabinet to
assist Indonesia in economic recovery) with respect to the rights of
the consortium in relation to their selection as the preferred
strategic partner for purposes of building the USD500,000,000
(million) Jakarta Outer Ring Road and the obligations of the
Indonesian Government and its agencies, the Badan Penyehatan
Perbankan Nasional (The National Banking Health Organization), PT. (Persero)
Jasa Marga (the Indonesian Government owned toll road developer and
operator) and PT. Jalantol Lingkarluar Jakarta (a special purpose
company owned by the Government established for purposes of building
the Jakarta Outer Ring Road) who attempted to terminate the
consortium’s rights.
Represented and defended Singapore Power International (the Singapore State-owned electric power developer) in defending
against police and labor union attacks designed to increase pressure
against Singapore Power International in restructuring negotiations
with Asia Pulp and Paper related to Singapore Power International’s
USD800,000,000 (million) Indonesian owned power plants located next
to and supplying power to Asian Pulp and Paper’s Indonesian pulp
mills.
Represented and defended international
telecommunications joint venture company (owned by PT.
Artimas Kencana, AT&T Wireless and the Asia Infrastructure Fund) in
their efforts to restructure a USD1,300,000,000 (billion) joint
operation investment with the Indonesian State-owned domestic
telecommunications monopoly, PT. Telekomunikasi Indonesia Tbk.,
inclusive of defense against actions by labor unions, the police,
consumer protection agencies, the military, and, among other
activities, arbitration in Geneva Switzerland under the rules of the
International Chamber of Commerce.
Represented Time Inc. and its
reporters and editors in defense of a USD27,000,000,000 (billion)
defamation claim brought against them by former President Suharto in
relation to an article entitled “Suharto Inc. How Indonesia’s Long
Time Boss Built a Family Fortune” published in Time Magazine’s May 24, 1998 Asia edition. Time Inc. was victorious in
both the district and high courts. The Supreme Court appeal brought
by former President Suharto is currently pending. Represented Time
Inc. and its reporters and editors in defense of an approximately
USD120,000,000 (million) defamation claim brought against them by
alleged terrorist Abu Bakar Basir in relation to an article
published in Time Magazine’s September 23, 2002
international addition.
Represented the Washington Post and its reporters and editors
in defense of an approximately USD100,000,000 (million) defamation
claim brought against them by four star General Endriarto Sutarto
and the Indonesian Military in relation to an article entitled “Indonesia
Military Allegedly Talked of Targeting Mine” published in
November 3, 2002.
Represented Star TV in defense of a
USD10,000,000 (million) action brought in the Indonesian courts by
their Indonesian distributor Indovision. Victorious in obtaining
court rejection of jurisdiction due to the existence of an
arbitration clause. Conclusion resulted in a settlement of
Indovision’s debts owed to Star TV.
Represented Garanti-Instituttet for Eksportkreditt,
the Norwegian Government’s export credit guarantee institute in an
arbitration against the Indonesian State-owned dredging monopoly,
PT. Pengerukan Indonesia, in an arbitration in Indonesia under the
rules of the Indonesian National Arbitration Association (BANI).
Drafted and negotiated joint venture
agreement between major international Indonesian bank and
major international Korean bank for the establishment of a joint
venture multi-finance company in Indonesia.
Drafted and negotiated offshore loans,
technical assistance, and royalty agreements relating to the
development of deep sea sand mining concessions and operations in
the island of Riau, Indonesia for the land reclamation necessary for
the expansion of Singapore's Changi International Airport.
Drafted and negotiated joint venture agreement
between an Indonesian private limited liability company and a
Malaysian publicly listed limited liability company for the
construction and management of a US$280,000,000 toll road project
located in Central Java, Indonesia. Negotiations resulted in an
increase in expected benefits to Client in excess of US$30,000,000.
Drafted and negotiated licensing rights to
access to and operation of all orbiting satellites and terrestrial
infrastructure of publicly listed telecommunications firm/IDD
operator for purposes of development, management, and sales of all
GSM, Mobitex, LMDS, and Satellite Backbone services. Present value
of benefits negotiated in excess of US$150,000,000. Additionally,
provided management consulting services regarding the successful
operation of the licensing businesses granted.
Formed French corporate entities (owned by
Client, Indonesian entity) to engage in aircraft leasing
enterprises. Negotiated assignment of purchase rights and lease back
contracts with Indonesian state airlines. Consulted in the
arrangement of financing for the purchase of US$330,000,000 in
aircraft including Export Import Bank of the United States financial
guarantee facilities.
Represented banks in negotiating and drafting
restructuring agreements in relation to the USD2,200,000,000
(billion) ethylene plant owned by PT. Chandra Asri and the
conversion of US$650,000,000.00 debt into equity. Largest Indonesian
restructuring transaction in 1997.
Developed case dispositive arguments regarding
tax issues in relation to the tax laws of the Republic of Indonesia
and the United States of America involving a claim by the client,
the U.S. Department of Treasury, for disallowance of Indonesian oil
and gas tax credits conservatively valued in excess of US$3.6
billion.
Drafted Master Derivatives Agreement to
accommodate currency and interest rate forward, spot, swap, cap,
floor and collar transactions for use by PT. Bank Danamon Indonesia
Tbk. throughout its banking network.
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Publications
Sriro’s Desk Reference of Indonesian Law 2009
by Andrew I. Sriro
The book provides access to the Indonesian legal system in a clear and concise format.
Sriro’s Desk Reference of Indonesian Company Law
by Andrew I. Sriro
The book provides access to the Indonesian Company legal system in a clear and concise format. |
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