Jakarta, CNBC Indonesia – If we trace the chronology of the case, the issuer of sea transportation owned by Hutomo Mandala Putra or Tommy Soeharto, PT Humpuss Intermoda Transportasi Tbk. (HITS) claims to be victorious over a lawsuit filed by a giant Norwegian shipping company.
It is known that HITS was sued for a loss of US$ 48.18 million or around Rp. 727.51 billion by a shipping company from Norway, Parbulk AS II (Parbulk).
“We believe that this legal process will ultimately be in our favor so that the business process will run as it should according to the Company’s expectations to protect the interests of shareholders and other stakeholders as high as possible,” said Tonny Aulia Achmad, Main Director of HITS in a written statement, Tuesday, ( 15/8/2023).
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Referring to the HITS consolidated financial report, the lawsuit from Parbulk II AS began to reappear on January 3, 2023. So what is the chronology for issuer Tomy Suharto being sued for IDR 727 billion?
Sitting Lawsuit Case
The case began when Parbulk said that HITS, through its subsidiary company Humpus Sea Transportation Pte., Ltd., namely Heritage Maritime Ltd., SA, had defaulted on the Letter of Undertaking dated December 11, 2007.
The Letter of Undertaking was originally drawn up in the context of a Bareboat Charter (BBC) rental agreement between Heritage and Parbulk II AS.
At that time Parbulk agreed to lease MV Mahakam to Heritage at a rental rate of US$38,500 per day for a period of 60 months from the date of receipt of the ship on December 14, 2007 with a Letter of Undertaking guarantee.
However, due to the impact of the global financial crisis in 2008, rates for shipbuilding services at that time dropped to 70% and Parbulk II AS did not change the value of the invoice charged to Heritage. Heritage objected to making payment because Heritage had returned the ship to Parbulk II AS to fulfill the contract, considering that the transaction was carried out under a lease-purchase scheme.
However, because the issuance of the Letter of Undertaking carried out by the former management was a violation of the law, HITS finally filed a civil lawsuit at the South Jakarta District Court on October 5, 2009. At that time, the lawsuit was partially granted by the South Jakarta District Court on May 11, 2011 and declared a Letter of Undertaking issued by HITS are against the law and are not binding on the company.
In this legal dispute, the Supreme Court’s cassation decision on December 14 2016 annulled the South Jakarta District Court Decision which stated that the Letter of Undertaking issued by HITS was an illegal act and did not bind the company.
Meanwhile, Parbulk, in his lawsuit, reported the SIPP PN South Jakarta, said Heritage had failed to pay its payment obligations under the boat charter agreement and committed other defaults such as failing to maintain adequate insurance for the Mahakam, replacing the Mahakam manager without Parbulk’s approval and failing to return the Mahakam ship to good condition. as usual within a reasonable time.
Then, Parbulk managed to get a ruling that won him against Heritage from the London Maritime Arbitrators Association (LMAA) arbitration institution and also against HITS from the High Court of England, but there was no payment of compensation as agreed in the decision. So, Parbulk as the owner of the ship demanded compensation from Heritage and HITS as the guarantor.
[Gambas:Video CNBC]
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