UMBRA’s Litigation & Alternative Dispute Resolution team (led by Melati Siregar, and supported by Junianto James Losari, Nikki Krisadtyo and Ivan Gautama) has once again successfully obtained a favourable arbitral award for its client (a prominent foreign securities company with presence in multiple jurisdictions) in a claim against a debtor that failed to fulfil its long overdue payment obligations.
The technical and highly regulated nature of securities transactions presents some complexity to the dispute. In addition, the case also involves a series of back-to-back transactions which require the team to accurately present the context and nuance of the transactions. Despite the respondent’s attempt to argue that the transaction had been annulled, the UMBRA team managed to convince the tribunal that the transaction was valid and binding, and the respondent’s failure to pay the obligation arising from the transaction constituted a breach of contract. We are pleased with the LAPS SJK’s tribunal favourable award for our client, particularly given that all of our substantive prayers for relief were granted.
We are deeply grateful for our client’s continuous trust in UMBRA since the dispute began in 2020. Congratulations once again to our client and the entire team!
#NoFirmLikeUs #WeGetThingsDone
