|By ACN Newswire||
|January 15, 2013 07:36 AM EST||
"The cancelled grant deeds were Grant Deed #12 and Grant Deed #13 dated November 2007, which attempted to takeover 75 percent or 7,500 shares of Ridlatama. According to our judgement, the share takeover was against the law," head judge Ari Jiwantara said as quoted by Bisnis Indonesia.
The decision, stated within Decision Letter No.605/ Pdt.G/2011 /PN.Jkt.Sel, basically explained that the deal, mentioned within an investor agreement made by both the accused companies did not meet all the criteria of a legitimate deal as stated within Article 1320 of KUH Perdata (Civil Affair Law).
The decision was made based on a lawsuit filed by majority shareholders of Ridlatama, namely Ani Setiawan and Florita, who claimed to control all Ridlatama shares, against both Technocoal and Indonesia Coal.
Britain's Churchill Mining is a company legally incorporated in the United Kingdom and listed on the London Stock Exchange Alternative Investment Market (AIM). Churchill's investment in Indonesia is carried out through PT Indonesia Coal Development (ICD), the shares of which are owned by Churchill Mining, Plc (95%) and Planet Mining, Plc (5%).
Churchill Mining Operation is Illegal
East Kutai Regency Head Isran Noor explains, "Based on data of the Indonesian Investment Coordinating Board (BKPM) and the Ministry of Justice and Human Rights of the Republic of Indonesia, on November 23, 2005, ICD was established as a Foreign Investment Company (PMA) with authorized capital and paid-up capital of US$250,000, with the intention and purpose of engaging in Mining Services and Geology, which fall under Category 10101 KBLI - Standard Industrial Classification of Indonesia, and is not a Coal Mining Company, which falls under Category 0510 KBLI. It is clear that their operation as a Coal Mining Company is illegal."
Based on data from the Ministry of Justice and Human Rights Affairs of the Republic of Indonesia, 4 companies, referred to as Ridlatama Group, are namely:
a. PT. Ridlatama Tambang Mineral, established on August 31, 2005
b. PT. Ridlatama Trade Powerindo, established on December 14, 2006
c. PT. Investama Resources, established on September 5, 2007, and
d. PT. Investmine usa Persada, established on Septermber 5, 2007
Ridlatama Group and Churchill entered into a cooperation as elaborated in the Investment Agreement in 2007. The cooperation was made by PT. Indonesia Coal Development, PT. Techno Coal Utama Prima, PT. Ridlatama Steel, PT. Ridlatama Power, PT. Ridlatama Mineral Mine, PT. Trade Ridlatama Powerindo, Ani Setiawan, and Florita. Under the Investment Agreement, Churchill will have the rights and interests over Ridlatama Group and in accordance with the Indonesia law, Churchill is allowed through ICD to own and control 75% (seventy five percent) shares in Ridlatama Group, and this has to be immediately executed by shareholders of Ridlatama Group.
This suggests that Churchill HAD KNOWN with certainty that Churchill and ICD CAN NOT have a stake in Ridlatama Group under the provisions of the applicable law in Indonesia.
To make it clearer, the content of the Article 3.2 Investment Agreement is cited as follows: "As for the 75% of the shares of TCUP (PT. Techno Coal Utama Prima), if there is a change in the laws of the Republic of Indonesia which allows ICD to hold shareholding in the KP Holders, all of the KP Holders shall provide all necessary assistance, including without limitation, executing any documents required to ensure that such shares are transferred to ICD."
If the Investment Agreement 2007 was legitimate and complied with the provisions of the laws, quod non, Churchill had annuled the Investment Agreement in 2007 following the signing of the Cancellation and Waiver Agreement dated January 27, 2011, aiming at annuling the Investment Agreement 2007.
Similar agreement with the Investment Agreement 2007 also took place on March 31, 2008 between PT. Indonesia Coal Development, PT. Techno Coal Development, PT. Techno Coal Utama Prima, PT. Investmine Nusa Persada, PT. Investama Resources, Ani Setiawan, and Florita. The provisions were the same with the Investment Agreement 2007.
"Based on the detailed explanation we can understand that Churchill Mining has fully understood with certainty that Churchill and ICD can not have a stake in Ridlatama Group under the provisions of the applicable laws in Indonesia," said Isran.
Based on the official information from Ridlatama website
In 2007 the Ridlatama Group entered into a partnership with Churchill Mining PLC and its subsidiaries to develop the East Kutai Coal Project in Indonesia. Exploration over the years confirmed a word class asset of 2.7 billion tons of coal. Unfortunately in 2010 a challenge to the ownership of the concession was filed at the Samarinda district courts.
The Ridlatama Group has vigorously defended their rights to the concessions and has tried to work closely with Churchill. In August of 2011 Churchill decided to sue the Ridlatama Group in various countries. That has left the Ridlatama Group with no choice but to defend itself and its rights.
Churchill has made statements on their web site and in the international press claiming to own 75% of the 4 main concessions making up the East Kutai Coal Project. By way of the Deed of termination and release dated January 27 2011 (as attached) and the failure of PT Indonesia Coal Development to comply with their obligations, the Ridlatama Group still owns 100% of all rights and interest in respect of the mining licenses in the East Kutai Coal Project. Churchill has published Reports that contain false and defamatory allegations that are obviously directed at the Ridlatama Group and amount to a very serious libel.
The 2007 Investor Agreement has been terminated
By way of the Deed of Termination and Release dated January 27 2011 and the failure of PT Indonesia Coal Development to comply with their obligations the Ridlatama Group still owns 100% of all rights and interest in respect of the mining licenses in the East Kutai Coal Project. The 2007 Investor Agreement has been terminated.
The 2008 Investor Agreement has never been fulfilled and thus is no longer valid
By way of the Deed of Termination and Release dated January 27 2011 and the failure of PT Indonesia Coal Development to comply with their obligations the Ridlatama Group still owns 100% of all rights and interest in respect of the mining licenses in the East Kutai Coal Project. The 2008 Investor Agreement has never been fulfilled and thus is no longer valid.
Breach of Confidentiality lawsuit
At 7 December 2011 All of the agreements signed with Churchill have explicit Confidentiality clauses which remain in effect even after the agreement is terminated. Churchill's PR machine is consistently breaking these confidentiality clauses as they attempt to try this case in the Court of Public opinion.
Removal of Churchill Legal team in the Supreme Court lawsuit
Churchill's legal team have lost at both the district court and the administrative court and in the circumstances the Ridlatama Group have lost confidence in Churchill's legal team moving forward in particular representing their interests in the appeal before the Supreme Court. Further, as Churchill have decided to sue the Ridlatama Group in various jurisdictions after being privy to confidential information attained during the currency of these Indonesian proceedings, the Ridlatama Group in our best interests. In the circumstances, at 15 November 2011 the Ridlatama Group have revoked Churchill's legal team's power of attorney to represent our 4 companies at the supreme court, and replaced them with Ridlatama's legal team.
Tangerang Court Ruling : PT Indonesia Coal Development's Claim Against Andreas Rinaldi Has Been Rejected
In relation to the claim filed by PT Indonesia Coal Development (case number 376/PDT.G/2011/PN.TG) against Andreas Rinaldi, The Tangerang High Court has ruled on 9 February 2012 that:
1. PT Indonesia Coal Development's claim is hereby rejected
2. The respondent is to pay a case fee of IDR 260,000 (30 USD)
Isran said, "The Alternative Investment Market of the London Stock Exchange should know about this very important issue. It is clear that Churchill Mining's operation as a Coal Mining Company is illegal."
-- Statement issued by PowerPR Asia Pacific for the Government of Indonesia, East Kutai local government.
PowerPR Asia Pacific, Jakarta
Source: Govt of Indonesia, East Kutai Local Govt
Copyright 2013 ACN Newswire. All rights reserved.
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the "Internet of Things" (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve customer service, and lower the risk in the creation of new revenue opportunities. In his General Session at Internet of @ThingsExpo, Dave Wagstaff, Vice President and Chief Architect at BSQUARE Corporation, discuss the real benefits to focus on, how to understand the requirements of a successful solution, the flow of ...
Jan. 30, 2015 03:45 PM EST Reads: 4,333
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.
Jan. 30, 2015 03:15 PM EST Reads: 5,100
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 30, 2015 02:30 PM EST Reads: 4,509
Performance is the intersection of power, agility, control, and choice. If you value performance, and more specifically consistent performance, you need to look beyond simple virtualized compute. Many factors need to be considered to create a truly performant environment. In his General Session at 15th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, discussed how to take advantage of a multitude of compute options and platform features to make cloud the cornerstone of your online presence.
Jan. 30, 2015 02:15 PM EST Reads: 5,255
In this Women in Technology Power Panel at 15th Cloud Expo, moderated by Anne Plese, Senior Consultant, Cloud Product Marketing at Verizon Enterprise, Esmeralda Swartz, CMO at MetraTech; Evelyn de Souza, Data Privacy and Compliance Strategy Leader at Cisco Systems; Seema Jethani, Director of Product Management at Basho Technologies; Victoria Livschitz, CEO of Qubell Inc.; Anne Hungate, Senior Director of Software Quality at DIRECTV, discussed what path they took to find their spot within the technology industry and how do they see opportunities for other women in their area of expertise.
Jan. 30, 2015 01:45 PM EST Reads: 3,736
Wearable devices have come of age. The primary applications of wearables so far have been "the Quantified Self" or the tracking of one's fitness and health status. We propose the evolution of wearables into social and emotional communication devices. Our BE(tm) sensor uses light to visualize the skin conductance response. Our sensors are very inexpensive and can be massively distributed to audiences or groups of any size, in order to gauge reactions to performances, video, or any kind of presentation. In her session at @ThingsExpo, Jocelyn Scheirer, CEO & Founder of Bionolux, will discuss ho...
Jan. 30, 2015 01:15 PM EST Reads: 3,104
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
Jan. 30, 2015 01:15 PM EST Reads: 4,360
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
Jan. 30, 2015 01:00 PM EST Reads: 6,142
“With easy-to-use SDKs for Atmel’s platforms, IoT developers can now reap the benefits of realtime communication, and bypass the security pitfalls and configuration complexities that put IoT deployments at risk,” said Todd Greene, founder & CEO of PubNub. PubNub will team with Atmel at CES 2015 to launch full SDK support for Atmel’s MCU, MPU, and Wireless SoC platforms. Atmel developers now have access to PubNub’s secure Publish/Subscribe messaging with guaranteed ¼ second latencies across PubNub’s 14 global points-of-presence. PubNub delivers secure communication through firewalls, proxy ser...
Jan. 30, 2015 12:45 PM EST Reads: 2,560
We’re no longer looking to the future for the IoT wave. It’s no longer a distant dream but a reality that has arrived. It’s now time to make sure the industry is in alignment to meet the IoT growing pains – cooperate and collaborate as well as innovate. In his session at @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, will examine the key ingredients to IoT success and identify solutions to challenges the industry is facing. The deep industry expertise behind this presentation will provide attendees with a leading edge view of rapidly emerging IoT oppor...
Jan. 30, 2015 12:45 PM EST Reads: 2,896
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics is e...
Jan. 30, 2015 12:00 PM EST Reads: 4,497
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Jan. 30, 2015 12:00 PM EST Reads: 10,617
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 30, 2015 11:45 AM EST Reads: 4,946
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrategies, will examine why IT must finally fulfill its role in support of its SBUs or face a new round of...
Jan. 30, 2015 11:45 AM EST Reads: 4,624
The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
Jan. 30, 2015 11:30 AM EST Reads: 3,714
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
Jan. 30, 2015 11:30 AM EST Reads: 4,905
ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ -- IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...
Jan. 30, 2015 11:15 AM EST Reads: 5,150
Building low-cost wearable devices can enhance the quality of our lives. In his session at Internet of @ThingsExpo, Sai Yamanoor, Embedded Software Engineer at Altschool, provided an example of putting together a small keychain within a $50 budget that educates the user about the air quality in their surroundings. He also provided examples such as building a wearable device that provides transit or recreational information. He then reviewed the resources available to build wearable devices at home including open source hardware, the raw materials required and the options available to power s...
Jan. 30, 2015 11:00 AM EST Reads: 3,920
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
Jan. 30, 2015 10:45 AM EST Reads: 4,406
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
Jan. 30, 2015 10:45 AM EST Reads: 4,728