PT. Bank Global Internasional, Tbk. had issued Public Offering of Bond Subordinate I of Bank Global 2003, on May 23, 2003 with nominal value amounting to Rp. 400.000.000.000,- (Four Hundred Billion Rupiah). PT. Bank CIMB Niaga, Tbk. had been appointed as trustee in the issuance of bond subordinate as meant at Trusteeship Agreement No. 4, dated April 1, 2003 and amendment II of Trusteeship Agreement of Bank Global Bond Subordinate I Year 2003 on Fixed and Floating Interest Rate No. 16 dated September 9, 2003 made between the Company and PT. Bank CIMB Niaga, Tbk., and PT. Bank Global Internasional, Tbk. PT. Insight Investment, PT. Insight Investment Management, Perumnas Pension Fund and Krakatau Steel Pension Fund bought half of the bonds, yet at the short run period, PT. Bank Global Internasional, Tbk. as the bond issuer being defunct as stipulated on Provision of Bank of Indonesia by virtue of Decree of Governor of Bank of Indonesia No. 7/2/KEP-GBI/2005 dated January 13, 2005 with status of Defunct Bank Activity (Bank Beku Kegiatan Usaha (BBKU)). PT. Insight Investment, et al. as the bond holder submitted a lawsuit to PT. Bank Global Internasional, Tbk. through District Court of Central Jakarta as case No. 255/Pdt.G/2008/PN.Jkt.Pst., which put PT. Bank CIMB Niaga, Tbk. as the Defendant XVII. And Novian & Partners has been appointed as the Legal Consultant to represent the PT. Bank CIMB Niaga, Tbk., on the case No. 255/Pdt.G/2008/PN.Jkt.Pst. District Court of Central Jakarta on April 22, 2009 had decided regarding the case No. 255/Pdt.G/2008/PN.Jkt.Pst., with decision stating that PT. CIMB Niaga, Tbk., is not conducting tort, therefore by law it has no obligation to pay any loss towards the Plaintiff.
