Winning multimillion-dollar contractual breach claims for a well-known Indonesian foreign securities company in two back-to-back securities arbitration proceedings at BAPMI
As we are nearing the end of 2020, we are delighted to announce the recent success of our Litigation & Alternative Dispute Resolution team in representing a well-known foreign securities company in Indonesia in two back-to-back arbitration proceedings before the Indonesian Capital Market Arbitration Board (BAPMI) for multimillion-dollar contractual breach claims. Not only that the disputes were challenging due to the complexity of the facts surrounding the cases (especially given the novel securities transaction structures, the number of parties involved, and the simultaneous back-to-back proceedings), they also required in-depth analysis of numerous Indonesian capital market regulations and a complete understanding of basic Indonesian Civil Codes provisions and various legal doctrines.
Despite the challenges, our team, led by Melati Siregar and Junianto James Losari, with support from Pramudya A. Oktavinanda, Irawati Puteri, and Rahma Hanum Amalia, managed to secure favorable decisions for our client from each of the tribunals where they ordered full payment of damages claimed along with the interests by the relevant defendants. Huge congratulations to our client for the win!
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