EXECUTION TOWARD ARBITRATION AWARD FILED BY PT. NINDYA KARYA (PERSERO)

PT. Nindya Karya (Persero) which is represented by Novian & Partners has filed a Request for Arbitration against PT. Manunggal Muara Palma (PT. MMP) through the Indonesia National Board of Arbitration (BANI), as on the Arbitration Case No. 290 / XII / ARB-BANI / 2008. Over the Arbitration Request, The Indonesia National Board of Arbitration (BANI) on January 25th, 2010 has given The Award with stated among others: State that PT. Manunggal Muara Palma has done Default and Punish PT. Manunggal PT Muara Palma to pay Nindya Karya (Persero) amounting to Rp. 93,800,775,600.02, – (ninety-three billion eight hundred million seven hundred and seventy-five thousand six hundred two cents rupiah). Based on the Judgment of the Indonesia National Board of Arbitration (BANI) No. 290 / XII / ARB-BANI / 2008, Novian & Partners as the Legal Attorney of PT. Nindya Karya (Persero) has filed a Petition for Execution toward The Award of Indonesian National Board of Arbitration (BANI) No. 290 / XII / ARB-BANI / 2008 through South Jakarta District Court. With object of the execution is in the form of palm oil mill and Palm Plantation located at Kuantan Singingi Regency Riau Province.

Leave a Reply