Newmont Considers Pukuafu Lawsuit Invalid

Law

Sunday, 27 March 2011 20:11

Theindonesiatoday.com - Newmont Indonesia Limited (NIL) and Nusa Tenggara Mining Corporation (NTMC), shareholders of PT Newmont Nusa Tenggara (NNT), says the lawsuit filed by PT Pukuafu Indah invalid.

Romi Emirat, PT NNT's lawyer, said the lawsuit filed by PT Pukuafu Indah against NNT is non-specific, which means the lawsuit is not legitimate. This statement indicates an appeal following interlocutory on March 10.

"The power of attorney on the case Number 482 is not specific, so the lawsuit is not valid since its filing, and we ask for one week of suspension to prepare an answer," Romi is quoted by Bisnis Indonesia last Thursday (March 24).

The power of attorney submitted by PT Pukuafu Indah, according to Romi, did not specifically mention who are the defendants, and also the object of the lawsuit. The power of attorney simply grants authority to the parties concerned to take certain legal action.

An interlocutory declared the South JAKARTA District Court has the authority to hear the case. At the same time, judges also believe on the basis of claims by Pukuafu is a 1986 contract of work for PT Newmont Nusa Tenggara. Panel of judges consider both NIL and NTMC have the address within its jurisdiction.

Panel of Judges in the Interlocutory Injunction also explained that in the lawsuit, defendants intend to transfer 49% shares of PT Newmont, while the contract of work stipulates if there is any legal dispute between parties of the contract, then it shall be resolved in Indonesia. The Contract of Work does not specifically mention specified parts of Indonesia. Accordingly, the filing of lawsuit can be done in the areas associated with these parties including the South Jakarta District Court. This resulted in rejection of an absolute competence demurrer submitted by the defendants.

Pukuafu lawyers said the legal basis of the lawsuit is not the Joint Venture Agreement, but a contract of work for NNT, particularly Article 24 Paragraph 3. The article guarantees PT Pukuafu Indah's rights over 31% shares divested by foreign shareholders (NIL and NTMC). (Theindonesiatoday.com)

» Vale Prices $1 Billion Notes

Theindonesiatoday.com - Mining giant Vale S.A, controlling shareholder of PT Vale Indonesia (INCO) Tbk, has priced its US$1 billion 4.375% Guaranteed Notes due 2022 at 98.804% of the principal amount.

Latest News

» Vale Prices $1 Billion Notes

» Bukit Asam Posts 55% Profit Growth in 2011

» CBM Asia Completes 4th Placement

» Prosecutors Re-Examine Former Taxman Dhana, Three Witnesses

» Lippo Karawaci to Pay Rp100 Billion Final Dividend

» Smartfren Raises Rp500 Billion from MTN

» Bank Windu to Raise Rp105.19 Billion via Rights Issue

» BNI Builds Cooperations with 10 Japan Banks

» Smartfren Eyes Doubled Growth in Revenue

» Adira Sets Bond Coupon 7.25%-9.25%

» Kalbe Farma Posts 15% Profit Growth in H1

» Mayora Might Seek for Loans

» Indonesian Coal Reference Price Declines Further 3.3% for May

» Alam Sutra Acquires Land from Affiliated Minami Indonesia

» IDX and Regional Markets Open Down

Latest News

Most Read

Most Read

Industries

Politics

Law

People