Release: Beckkett Pte Ltd?s legal statement on the loss of its contractual and property rights in PT Adaro Indonesia and PT Indonesia Bulk Terminal
Friday, September 23 2005 - 06:41 AM WIB
This loss of rights was due to (1) the non-disclosure of share acquisitions to the public in breach of the law (2) violation of the Articles of Association with regard to the transfer of shares from foreign investors to local investors (the ?Indoneslanizing? process).
Furthermore to this announcement, Beckkett alleges that there has been a premeditated conspiracy aimed at eliminating Beckkett?s interests in these four companies.
This statement has been announced to the general public, notaries, the relevant authorities, financial institutions (both national and International), and government institutions and In addition to the management of the above-mentioned companies. It informs them that they must not engage in and must discontinue any activities that might cause changes in the organization, capital structure, shareholder composition or Articles of Association in the four companies.
?We would like to state that the South Jakarta District Court has withdrawn its decrees after a ruling by the DKI Jakarta High Court with regard to the execution of the shares sold, and the ?Indoneslanizing? process?, Beckkett legal counsel Dr. Todung Mulya Lubis said. Mr Lubis has requested the public at large, notaries, the relevant authorities, financial institutions (both national and international), government institutions and the management of the above mentioned companies to honor the ongoing legal process.
Beckkett has sought legal redress through the Singapore High Court, the Jakarta State Administrative Court, and the South Jakarta District Court. Beckkett is currently taking other legal actions against the management of the four above mentioned companies and their related institutions, which have prejudiced the company?s contractual and property rights in Adaro, IBT, SME, and Asminco. (end of release)
For further information, please contact Todung Mulya Lubis at (0818)658247 or (021)5211931.