|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.
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the protocols that communicate data and the emerging data analy...
Sep. 26, 2016 01:00 PM EDT Reads: 1,603
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Sep. 26, 2016 12:45 PM EDT Reads: 2,026
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. 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 dev...
Sep. 26, 2016 12:45 PM EDT Reads: 3,408
SYS-CON Events announced today that China Unicom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE F...
Sep. 26, 2016 12:45 PM EDT Reads: 1,729
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Sep. 26, 2016 12:15 PM EDT Reads: 1,664
SYS-CON Events announced today that ReadyTalk, a leading provider of online conferencing and webinar services, has been named Vendor Presentation Sponsor at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. ReadyTalk delivers audio and web conferencing services that inspire collaboration and enable the Future of Work for today’s increasingly digital and mobile workforce. By combining intuitive, innovative tec...
Sep. 26, 2016 12:00 PM EDT Reads: 2,781
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
Sep. 26, 2016 11:30 AM EDT Reads: 2,537
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
Sep. 26, 2016 11:30 AM EDT Reads: 990
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
Sep. 26, 2016 11:30 AM EDT Reads: 2,571
SYS-CON Events announced today the Enterprise IoT Bootcamp, being held November 1-2, 2016, in conjunction with 19th Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA. Combined with real-world scenarios and use cases, the Enterprise IoT Bootcamp is not just based on presentations but with hands-on demos and detailed walkthroughs. We will introduce you to a variety of real world use cases prototyped using Arduino, Raspberry Pi, BeagleBone, Spark, and Intel Edison. Y...
Sep. 26, 2016 11:15 AM EDT Reads: 2,865
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Sep. 26, 2016 11:06 AM EDT Reads: 155
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, will discuss how VPaaS enables you to move fast, creating scalable video experiences that reach your...
Sep. 26, 2016 11:00 AM EDT Reads: 989
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Sep. 26, 2016 10:45 AM EDT Reads: 3,275
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Sep. 26, 2016 10:30 AM EDT Reads: 893
Big Data has been changing the world. IoT fuels the further transformation recently. How are Big Data and IoT related? In his session at @BigDataExpo, Tony Shan, a renowned visionary and thought leader, will explore the interplay of Big Data and IoT. He will anatomize Big Data and IoT separately in terms of what, which, why, where, when, who, how and how much. He will then analyze the relationship between IoT and Big Data, specifically the drilldown of how the 4Vs of Big Data (Volume, Variety,...
Sep. 26, 2016 10:00 AM EDT Reads: 1,003
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Sep. 26, 2016 10:00 AM EDT Reads: 2,688
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Sep. 26, 2016 09:45 AM EDT Reads: 2,864
WebRTC adoption has generated a wave of creative uses of communications and collaboration through websites, sales apps, customer care and business applications. As WebRTC has become more mainstream it has evolved to use cases beyond the original peer-to-peer case, which has led to a repeating requirement for interoperability with existing infrastructures. In his session at @ThingsExpo, Graham Holt, Executive Vice President of Daitan Group, will cover implementation examples that have enabled ea...
Sep. 26, 2016 09:00 AM EDT Reads: 1,529
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
Sep. 26, 2016 08:15 AM EDT Reads: 1,545
Vidyo, Inc., has joined the Alliance for Open Media. The Alliance for Open Media is a non-profit organization working to define and develop media technologies that address the need for an open standard for video compression and delivery over the web. As a member of the Alliance, Vidyo will collaborate with industry leaders in pursuit of an open and royalty-free AOMedia Video codec, AV1. Vidyo’s contributions to the organization will bring to bear its long history of expertise in codec technolo...
Sep. 26, 2016 08:15 AM EDT Reads: 2,502