- 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.
- Advised Freeport on various mining activities in Indonesia.
- Advised Tambang Timah Tbk in its potential purchase and due diligence of Indocoal.
- Advised Deutsche Bank in relation to financing of the purchase of shares in PT Berau Coal by PT Armadian Tritunggal (involving senior facility of US$85,000,000 and mezzanine facility of US$30,000,000).
- Advised PT Arutmin Indonesia on mining and contract of work issues.
- Advised Asia Resources Holdings Limited in connection with acquisition of a mining trading company that was then injected into a Hong Kong Public Company.
- Advised Esco Corporation on acquisition of an Indonesian mining company.
- Represented banks in negotiating and drafting restructuring agreements in relation to the US$2.2 Billion ethylene plant owned by PT. Chandra Asri and the conversion of US$650,000,000 debt into equity. Largest Indonesian restructuring transaction in 1997.
- Represented Argo Pantas in restructuring its negotiation with creditors in connection with its existing loan facilities and possible delay of payment action in 1998.
- Represented London Sumatra Plantations in negotiation with its creditors in connection with debt in connection with its out of the money swap arrangements/derivatives agreements.
Dispute Resolution, Litigation and Arbitration
- Represented the following consortium of lenders in defense of their US$1 Billion financing of a US$2 Billion 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 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 US$10,000,000 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 US$500,000,000 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 US$800,000,000 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 US$1.3 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 US$27 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 US$120,000,000 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 US$100,000,000 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 US$10,000,000 action brought in the Indonesian courts by their Indonesian distributor Indovision. SLF successfully obtained a court ruling rejecting of jurisdiction due to the existence of an foreign arbitration clause whichresulted in a favorable 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).
Government and International Agencies
- Advised the Indonesian Government on International trans-border issues including those in connection with a dispute with the Australian Government regarding environmental damage caused in Indonesian waters by the Montara oil and gas leak in the Timor Sea and the migration of effluent into Indonesian territorial waters. Indonesia had asked for clean-up of the environmental damage as there was no treaty applicable in this area. SLF represented the Indonesian Governments interests and was active in approaching and lobbying international bodies with influence over maritime law such as the International Maritime Organization.
- Advised the Government of Indonesia through the Ministry of Trade at the World Trade Organization regarding GATT. SLF provided deep analysis across all sectors regarding Indonesia’s commitments under GATT and advised where and when Indonesia should make concessions.
- Advised USAID in connection with trade issues concerning the Government of Indonesia.
- SLF also works closely with other ministries in Indonesia and has close contacts among others at the Ministry of Foreign Affairs, the Ministry of Transportation, the Ministry of Mines and Energy and the Ministry of Finance.