Timor Purchase Cancellation Must be Through Court
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TEMPO Interactive, Jakarta: Efforts to cancel the contract of PT Timor Putra Nasional’s debt purchase between the Indonesian Bank Restructuring Agency (IBRA) and PT Vista Bella Pratama must be carried out through trial process, not arbitration.
“This is because it often happens that a party doesn’t execute the arbitration decision,” said Emerson Juntho, Coordinator of Indonesia Corruption Watch’ Legal and Justice Monitoring Team Head.
In addition, said Emerson, the arbitration decision needs to be made stronger through the court.
According to him, arbitration is the process of solving a dispute outside the court and which is mediated by an arbitration referee.
“Or usually referred to as shadow court,” said Emerson.
The arbitration decision, he said, was final and conclusive, which meant there were no more legal efforts after the decision.However, Emerson acknowledged he did not yet know whether or not the arbitration process could be used to cancel the purchase contract.
What is clear, he said, was that if there were a breach of contract, the contract could be annulled.
As already reported, the Attorney General’s Office (AGO) has asked the Finance Minister for two special powers of attorney.
These powers of attorney, said Attorney General Hendarman Supanji, were for the arbitration and for litigation or the court track.
These two efforts are being taken in order to cancel the Timor’s receivables purchase which was won by PT Vista Bella.
Source: http://www.tempointeraktif.com
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