News and developments

Litigation & Dispute Resolution

Grounds for the annulment of domestic arbitration awards in indonesia (recent development)

Introduction Under the Arbitration Law (Law No. 30 of 1999), a domestic arbitration award that has been registered by the arbitrator(s) or its proxy with the court can be annulled. The annulment request must be made in writing and submitted to the relevant district court within 30 days of the submission and registration date of the award in the registrar’s office of the relevant district court.

21 January 2022

Corporate and Commercial

The indonesian constitutional court ruling on the omnibus law: unconstitutional with conditions?

Brief Overview On the 25th of November 2021, under its final and binding ruling No. 91/PUU-XVIII/2020 (“Ruling”), the Indonesian Constitutional Court (Mahkamah Konstitusi - “Court”) ruled on an application for a judicial review of Law No. 11 of 2020 on Job Creation (commonly known as the “Omnibus Law”) – a law which (i) changed 78 Indonesian laws; and (ii) has been implemented by 51 implementing regulations across different sectors in hopes of boosting investment and making doing business in Indonesia easier.

21 January 2022

Finance

Financial services authority (ojk) regulates digital banks

On 30 July 2021, the Financial Services Authority (“OJK”) has issued OJK Regulation No. 12/POJK.03/2021 on Commercial Banks (“POJK 12/2021”). POJK 12/2021 was issued to anticipate, amongst other things, a business development and banking trend including the development and innovation of information technology. One of the interesting topics of POJK 12/2021 is the introduction of provisions on digital banks.

21 January 2022