ABNR Counsellors at Law is instructed on some of the most high-profile and complex restructuring and insolvency mandates in the country, with particular expertise in matters relating to the aviation sector and a track record in respect of work in the oil and gas, construction, and shipping industries. The firm advises both creditors and insolvent companies, and similarly works for both international and domestic clients. Emir Nurmansyah heads the practice and has been involved in the firm’s most substantial restructuring matters, working alongside foreign counsel Theodoor Bakker and Bilal Anwari.
Restructuring and insolvency in Indonesia
ABNR Counsellors at Law
Responsables de la pratique:
Emir Nurmansyah
Autres avocats clés:
Theodoor Bakker; Bilal Anwari
Principaux clients
Citicorp Investment Bank (Singapore) Limited
DEG
Airbus SAS
Airbus Atlantic
NEC
Air Lease Corporation
Avolon Aerospace Leasing Limited
Export Development Canada
Standard Chartered Bank
Kuok Group
Jangho Group
ITOCHU Corp.
Dubai Aerospace Enterprise
Principaux dossiers
- Advised numerous aircraft lessors and manufacturers and other key creditors on the $9.8bn court-sanctioned debt restructuring of Indonesian flag carrier PT Garuda Indonesia (Persero) Tbk.
- Advised Citicorp Investment Bank (Singapore) Ltd as the trustee of two senior motes on the $1.4bn court-sanctioned debt restructuring of PT Sri Rejeki Isman and its subsidiaries.
- Advised China State Construction Engineering Corporation Ltd and PT Sarana Abadi Jaya Raya on the $750m court-sanctioned debt restructuring of PT Mahkota Sentosa Utama.
Assegaf Hamzah & Partners
Assegaf Hamzah & Partners has industry strength across the government, financial services, energy, manufacturing, construction and aviation sectors, and has a track record in assisting with some of the most high-profile restructures of major corporate debtors and other stakeholders. The practice is able to draw on the wider capabilities of the firm, with practice head Ibrahim Sjarief Assegaf leveraging his banking and finance expertise to assist related operators with their debt restructuring and insolvency mandates. Eri Hertiawan has extensive disputes experience which he deploys in representing his clients in the proceedings around their restructures. Tracy Tania focuses on transactional matters with a nexus to restructuring and insolvency.
Responsables de la pratique:
Ibrahim Sjarief Assegaf; Eri Hertiawan
Autres avocats clés:
Tracy Tania
Principaux clients
Intesa Sanpaolo S.p.A.
Malaysia Smelting Corporation Berhad
Pathfinder Strategic Credit II LP
PT AEON Mall Indonesia
PT Angkasa Pura I (Persero)
PT Apexindo Pratama Duta Tbk.
PT Bank Danamon Indonesia Tbk
PT Bank HSBC Indonesia
PT Bank Mandiri (Persero) Tbk.
PT Bank Maybank Indonesia Tbk.
PT Bank Permata Indonesia
PT Garuda Indonesia (Persero) Tbk
PT Matsuzawa Pelita Furniture Indonesia
PT Royal Industries Indonesia
PT Sarana Multi Infrastruktur
PT Sri Rejeki Isman Tbk
PT Sumberdaya Sewatama
PT Waskita Karya (Persero) Tbk.
Raiffeisen Bank International A.G.
TAEL Partners
Principaux dossiers
- Assisting PT Garuda Indonesia (Persero) Tbk with the implementation of a court-sanctioned composition plan.
- Advised PT Angkasa Pura I, a state-owned enterprise which provides air traffic services and business airports in Indonesia, on its restructuring process.
- Advising PT Waskita Karya (Persero) Tbk, as its Indonesian legal counsel, on the proposed restructuring of its financial debts and obligations.
Hadiputranto, Hadinoto & Partners, a member firm of Baker McKenzie
Hadiputranto, Hadinoto & Partners, a member firm of Baker McKenzie combines the global reach of the Baker McKenzie network with the firm’s strengths across disputes and finance to provide a strong restructuring and insolvency offering. The team has a stellar track record in advising Indonesian and international creditors on restructuring work across the financial services, telecoms, manufacturing, real estate and energy sectors. Andi Kadir leads on most of the group's major, cross-border restructures, working alongside co-head Indri Guritno who is primarily active in relation to finance mandates, and brings her structured finance expertise to these complex matters.
Responsables de la pratique:
Andi Kadir; Indri Guritno
Principaux clients
Qatar National Bank
Blackrock
Kroll
JP Morgan
PT Mandiri Sekuritas
PT Perkebunan Nusantara III
Pertamina
Principaux dossiers
- Represented Qatar National Bank in two petitions of court-sanctioned debt restructuring proceedings.
- Advising Pertamina on the court-supervised restructuring of PT Garuda Indonesia.
Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills
Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills is experienced in handling the full range of informal financial restructurings, court-supervised debt restructurings, and bankruptcy cases for domestic and international clients. The firm is active across a range of sectors, and is able to draw upon its wider finance and disputes strengths to provide comprehensive assistance to clients. Debby Sulaiman leads the practice, with extensive experience in advising banks and other financial institutions in this work, combined with significant disputes capabilities. Tjahjadi Bunjamin heads up the finance practice, but is also active in this area, much like Adrianus Adritomo, who similarly straddles the finance and debt restructuring spheres.
Responsables de la pratique:
Debby Sulaiman; Tjahjadi Bunjamin
Autres avocats clés:
Adrianus Adritomo
Principaux clients
Nordic Aviation Capital
Stellar Aircraft Holding 2 Limited
Greylag Goose Leasing
Credit Suisse AG, Singapore Branch
Commonwealth Bank of Australia
Principaux dossiers
- Advised Nordic Aviation Capital, as the biggest lessor, on the court-supervised debt restructuring process of Garuda Indonesia.
- Represented Credit Suisse AG, Singapore Branch in the bankruptcy process of PT Bina Bangun Mandiri, an Indonesian property company.
- Assisted Commonwealth Bank of Australia with the restructuring of its lease arrangements with Indonesian airlines Batik Air and Lion Air in the context of their debt restructurings.
SSEK Law Firm
SSEK Law Firm is active in relation to non-performing loans and complex debt restructurings, drawing on its ‘extensive practical experience in bankruptcy and cross-border investment‘ in acting on the most high-profile insolvency mandates. The team works closely with the M&A practice to advise on restructurings connected with acquisitions by multinational companies. Denny Rahmansyah and Dewi Savitri Reni head up the firm’s offering and are active on the most complex restructuring mandates and related arbitrations. Michael Carl leads on complex restructurings related to the shipping and logistics sectors. Ira Eddymurthy and Jonathan Streifer are also noted.
Responsables de la pratique:
Denny Rahmansyah; Dewi Savitri Reni
Autres avocats clés:
Michael Carl; Ira Eddymurthy; Jonathan Streifer
Les références
‘Members of the team possess exceptional language proficiency and remarkable cross-cultural communication capabilities. They have extensive practical experience in bankruptcy and cross-border investment.’
‘Even in complex cross-border projects, they are capable of using clear and intuitive analytical methods, along with easily understandable language, to help us understand and grasp legal risks relating to the business. Moreover, their thorough consideration of our commercial needs and objectives in their advice assists us in smoothly executing our projects.‘
‘They always deliver high-quality and efficient services within the timeframes. Their strong coordination skills enable them to mobilise internal resources within the law firm promptly and provide client with comprehensive “one-stop” services.‘
Principaux clients
Rolls-Royce
Société Internationale de Télécommunications Aéronautiques
General Electric
Yili Group
McDermott
General Motors
Nissan
Ford
Idemitsu
Principaux dossiers
- Advised Rolls-Royce, a major creditor, on the $9.8bn debt restructuring of Garuda Indonesia.
- Acting as liquidator for a global investment company which is exiting the Indonesian market and dissolving and liquidating its investment management company.
- Representing a Chinese construction engineering company in a payment dispute over non-payment for a factory project and assisting with the possible submission of an insolvency petition.
Walalangi & Partners in association with Nishimura & Asahi
Walalangi & Partners in association with Nishimura & Asahi is instructed by a significant number of international naes, with Japanese clients being a particular strength of the firm given its association. The team has a proven track record in insolvency and restructuring matters in the automotive and real estate sectors. Luky Walalangi heads up the practice, working alongside Miriam Andreta and Hans Adiputra Kurniawan, both of whom have wide-ranging expertise across sectors. Jeanne Elisabeth Donauw focuses on the TMT and FMCG industries.
Responsables de la pratique:
Luky Walalangi
Autres avocats clés:
Miriam Andreta; Hans Adiputra Kurniawan; Jeanne Elisabeth Donauw
Principaux clients
Digital Payments Holdings, Pte., Ltd.
Essex Bio – Technology Limited
Family Mart Co., Ltd.
Geo Technologies, Inc.
Global AI Innovations Laboratory Co., Ltd. (Gailabo)
Google Inc.
Google Indonesia
GS Yuasa Corporation
Hankyu Hanshin Properties Corp.
Haseko Corporation
Hitachi Transport System, Ltd.
Hokkan Holdings Corporation
Idemitsu Corporation
Idemitsu Kosan Co., Ltd.
Idemitsu Lube Indonesia, PT
Idemitsu Lube Techno Indonesia, PT
Indonesian Defence and Security Tecnologies, PT
Indonesia Steel Tube Works, PT
INPEX
Itochu Corporation
Itochu Singapore, Pte., Ltd.
Principaux dossiers
- Advising Daiwa House Group on the restructuring and divestment of Indonesia-based real estate project joint venture company PT Sayana Integra Properti.
- Advising a German luxury car producer on the restructuring and transfer of operations of its two production and distribution subsidiaries in Indonesia to a UK-based independent global automotive distributor.
- Advising Mitsubishi Estate on the suspension of payment in the proceedings concerning PT Garuda Indonesia.
Makarim & Taira S.
Makarim & Taira S. leverages its disputes capabilities to represent foreign and local lenders, as well as large Indonesian corporate entities, in contentious insolvency mandates. Rahayu Hoed leads the practice. Foreign legal consultant Hilton King brings his experience in investment and corporate matters to non-contentious restructuring mandates.
Responsables de la pratique:
Rahayu Hoed
Autres avocats clés:
Hilton King
Principaux clients
Home Box Office (Singapore) Pte Ltd
Affiliates Asia L.L.C.
Turner Broadcasting System Asia Pacific Inc.
PT Prasmanindo Boga Utama
PT GOLD COIN
DLA PIPER
Drew & Napier
Puma Asia Pacific Ltd.
Principaux dossiers
- Represented Sumitomo Corporation, as the major unsecured creditor, in the delay of payment proceedings of PT Satyamitra Surya Perkasa.
- Assisting International Flavors and Fragrances with the various restructuring issues related to its global transaction with DuPont’s Nutrition & Biosciences Business.
TnP Law Firm
TnP Law Firm has a client base comprising both borrowers and lenders, including those who invest during the course of the restructuring process, and has experience working with both state-owned and private enterprises. Rambun Tjajo has a broad practice across finance and capital markets, and is active in assisting clients in the banking sector with their matters related to insolvency and restructuring. Melissa Butarbutar shares leadership of the team with Tjajo, and likewise has expertise across finance and capital markets. Ken Prasadtyo is another key contact.
Responsables de la pratique:
Melissa Butarbutar; Rambun Tjajo
Autres avocats clés:
Ken Prasadtyo
Principaux clients
PT Central Proteina Prima Tbk
PT Energi Mega Persada Tbk
PT Grab Teknologi Indonesia
PT Waskita Karya Realty
PT Waskita Fim Perkasa
PT Perusahaan Pengelola Aset
PT Buana Lintas Lautan Tbk
PT Semen Indonesia (Persero) Tbk
PT Bank Mayora
PT Bank Negara Indonesia (Persero) Tbk
Principaux dossiers
- Advising an Indonesian state-owned asset management company on a financial restructuring involving a listed company engaged in the consumer goods and agriculture commodities sector.
- Advising PT Perusahaan Pengelola Aset on a completion of facility financing to restore and grow its existing fleet amidst the company’s restructuring program for Garuda Indonesia.
- Advising an Indonesian state-owned asset management company on the provision of a loan facility to an Indonesian airline for financing the restoration of its fleet.
FKNK Law Firm
FKNK Law Firm leverages its litigation expertise to assist with the administration of debt restructuring, with founding partner Martin Patrick Nagel having extensive expertise across commercial disputes and related areas. Ichsan Perwira Kurniagung advises a range of state-owned and private enterprises on their restructuring mandates, while Aldi Firmansyah has experience acting as administrator in a number of high-profile postponement obligation of debt payment cases.
Responsables de la pratique:
Martin Patrick Nagel; Aldi Firmansyah; Ichsan Perwira Kurniagung
Ginting & Reksodiputro in association with A&O Shearman
Ginting & Reksodiputro in association with A&O Shearman covers a range of mandates, including insolvencies, debt restructurings, and distressed asset management. Through the firm’s association with A&O Shearman, the team has a strong connection with Singapore and capabilities extending to Singaporean schemes of arrangement. Daniel Ginting leads, capably supported by Tarsis Halintar.
Responsables de la pratique:
Daniel Ginting
Autres avocats clés:
Tarsis Halintar
Les références
‘The practice is unique because the transaction was one-of-a-kind in the industry at the time.’
‘The team was exceptional, their commitment to collaboration is a distinguishing factor. The ability to work harmoniously and leveraging each counterpart’s strengths makes them able to manage all challenges.’
Principaux clients
PT Perusahaan Pengelola Aset (Persero)
Principaux dossiers
- Advising a global financial institution, as bilateral lender and scheme creditor, on the restructuring of PT Pan Brothers Tbk.
Hanafiah Ponggawa & Partners – Dentons HPRP
Hanafiah Ponggawa & Partners – Dentons HPRP is particularly active in the aviation and logistics sectors, and has strong capabilities through the Dentons network in handling cross-border restructuring mandates. Sartono brings his disputes expertise to the practice, as does Gading Sanyjaya.
Responsables de la pratique:
Sartono; Gading Sanyjaya
KYORA Law Firm
KYORA Law Firm advises a range of Indonesian and international financial institutions as both bilateral and syndicated lenders on their restructuring initiatives. Triangga Kamal who heads up the practice alongside Christo Yosafat, specialises in complex, cross-border contentious and advisory restructuring work.
Responsables de la pratique:
Triangga Kamal; Christo Yosafat
Les références
‘They are able to provide solution on every issue.’
‘Triangga Kamal is a well-known lawyer who is open, outgoing, and always provides solutions.’
Principaux clients
PT Waskita Beton Precast, Tbk.
Members of the creditors ad hoc committee of PT Pan Brothers Tbk
PT Barata Indonesia (Persero)
PT Dok dan Perkapalan Indonesia (Persero)
Envirotainer AB.
Taipei Fubon Commercial Bank Co. Ltd.
PT Bank CTBC Indonesia
PT Jujur Sentosa
Bank of Taiwan, Offshore Banking Branch
Chailease International Financial Services Co., Ltd.
Chang Hwa Commercial Bank, Ltd.
First Abu Dhabi Bank, Ltd.
Hua Nan Commercial Bank, Offshore Banking Branch
Hua Nan Commercial Bank, Singapore Banking Branch
Krung Thai Bank Public Company Limited, Singapore Branch
Land Bank of Taiwan, Offshore Banking Branch
Taichung Commercial Bank Co. Ltd., Offshore Banking Branch
Taishin International Bank Co. Ltd., Singapore Banking Branch
First Commercial Bank, Ltd., Singapore Branch
PT Bank CTBC Indonesia
Principaux dossiers
- Advising members of the creditors’ ad hoc committee of PT Pan Brothers Tbk on the implementation of schemes of arrangement approved by the Singapore High Court.
- Representing PT Waskita Beton Precast in the Suspension of Debt Payment Obligations cases.
- Assisting SC Lowy Primary Investments with the filing of an annulment of PT Namasindo Plas’s composition plan and the Suspension of Debt Payment Obligations to PT Sidomulyo Selaras, TBk.
TNB & Partners in association with Norton Rose Fulbright
TNB & Partners in association with Norton Rose Fulbright has a particularly strong restructuring offering in matters connected with the aviation sector; joint practice heads Kresna Panggabean and Tasdikiah Siregar have significant experience in advising lessors in the restructuring of aircraft leases. The firm’s know-how also extends to a number of other industries, including oil and gas, energy, and mining.
Responsables de la pratique:
Tasdikiah Siregar; Kresna Panggabean
Principaux clients
Aimia Proprietary Loyalty SG Pte Ltd
Thales Avionics Inc
Principaux dossiers
- Advised the syndicated lenders on the suspension of payment obligations of a telecoms company.
- Advised Thales Avionics on the suspension of payment obligations of PT Garuda Indonesia (Persero) Tbk.
- Advised BOC Aviation (France) SARL on the suspension of payment obligations of PT Garuda Indonesia (Persero) Tbk.