Court Rejects Pukuafu’s Lawsuit Against Newmont

Law

Monday, 11 October 2010 17:16

Theindonesiatoday.com -- Panel of judges of the Central JAKARTA District Court rejected the lawsuit filed by PT Pukuafu Indah related with the dispute over divestment of PT Newmont Nusa Tenggara (NNT) shares. The judges rejected the lawsuit on the grounds that Pukuafu’s lawsuit was considered “vague”.

In the lawsuit, dated on October 29, 2009, Pukuafu asked the court to overturn the international arbitration over the divestment. Pukuafu also asked the court to order the Government, i.en. Minister of Energy and Mineral Resources (defendant I) and NNT (defendant II) to divest the Newmont stakes to Pukuafu, which already holds 20 percent of NNT shares not to other parties.

NNT has divested 24 percent of NNT shares to local a consortium of governments of West Nusa Tenggara and a Bakrie Group company. The divestment was part of the agreement with the Indonesian government, which required the company (NNT) to divest 51 percent stakes to national parties. NNT is currently in the process of divesting the remaining 7 percent shares.

The panel of judges viewed that the claims submitted by Pukuafu considered premature, so the lawsuit cannot be accepted.

NNT spokesman Rubi W. Purnomo said the NNT welcomed to the verdict. On March 31, 2009, an international arbitration ordered Newmont to go ahead with shares divestment.

(ferdi@theindonesiatoday.com)

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