Jakarta, Indonesia Sentinel — PT Bank Mayapada International Tbk. (MAYA), owned by prominent Indonesian conglomerate Dato Sri Prof. Dr. Tahir, is facing a legal battle against PT Sioengs Group, a company led by billionaire Ted Sioeng. The lawsuit, filed under case number 1279/Pdt.G/2024/PN JKT.SEL at the South Jakarta District Court, seeks damages amounting to IDR 1.2 trillion.
The lawsuit accuses Mayapada Bank and its key stakeholders, including Dato Sri Prof. Dr. Tahir, Buyung Gunawan, and Charlie Salim, of engaging in unlawful acts that caused significant financial harm to Sioengs Group.
Breakdown of Damages
According to the court documents, the damages are divided into two parts:
- PT Bank Mayapada International Tbk. is demanded to pay IDR 1.04 trillion.
- Dato Sri Prof. Dr. Tahir, Buyung Gunawan, and Charlie Salim are held jointly liable for an additional IDR 218.4 billion.
Controversial Agreements Annulled
The lawsuit also challenges the legality of several prior legal and financial arrangements involving Mayapada Bank:
- Cessie Agreement No. 26 (dated February 7, 2023): Declared null and void.
- Bankruptcy Rulings: Judgments numbered 54/Pdt.Sus-PKPU/2023 from March 30, May 12, and June 5, 2023, were deemed non-executable.
In addition, the appointment of curators based on the aforementioned rulings was invalidated. The court ordered a halt to all bankruptcy proceedings, including the liquidation of Sioengs Group’s assets.
A Heated Legal Back-and-Forth
The lawsuit is part of an ongoing dispute between Mayapada Bank and Sioengs Group. Previously, Mayapada had declared Sioengs Group bankrupt, citing IDR 1.55 trillion in non-performing loans owed by the group. The Central Jakarta Commercial Court had supported Mayapada’s claim by declaring Sioengs bankrupt in case 55/Pdt.Sus-PKPU/2023/PN.Niaga.Jkt.Pst.
Ted Sioeng’s Legal Troubles
This lawsuit sheds light on the ongoing legal troubles of Ted Sioeng, the founder of Sioengs Group. In 2023, Sioeng became a fugitive, listed on Interpol’s most-wanted list. Allegations also surfaced against Jessica Gatot Elnitiarta, believed to be Sioeng’s daughter, for her involvement in falsifying corporate documents used as collateral for loans.
Indonesia Expands Natural Gas ‘Jargas’ Network to Cut LPG Imports by 2030
Court’s Immediate Enforcement
The lawsuit specifies that the rulings are to be enforced immediately, even if appeals or cassation are filed (uitvoerbaar bij voorraad). Additionally, the defendants are ordered to comply fully with the court’s decisions and to cover all court expenses.
Conclusion
The legal battle between Mayapada Bank and Sioengs Group highlights a complex intersection of financial disputes, alleged unlawful acts, and criminal allegations. As the case unfolds, its outcome could have significant implications for both parties and broader corporate governance in Indonesia.
(Becky)
