Click here to close now.



Welcome!

Apache Authors: William Schmarzo, Christopher Harrold, Elizabeth White, Talend Inc., Adrian Bridgwater

News Feed Item

Britain's Churchill Mining VS Ridlatama: Ridlatama Grant Case Settled, Churchill Mining Operation is Illegal

Jakarta, Indonesia, Jan 15, 2013 - (ACN Newswire) - The South Jakarta District Court has on Wednesday November 28 decided to cancel share takeover via grant deed at PT Ridlatama Trade Powerindo by PT Technocoal Utama Prima and PT Indonesia Coal Development.

"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
http://www.ridlatama.com/news/EKCP.html

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.

Defamation lawsuit

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.

Contact:

Vanya Manuputty
Mobile: +62-813-80444507

Mexson Sitompul
Mobile: +62-812-8107200

PowerPR Asia Pacific, Jakarta
Tel: +62-21-2555-6781
Fax: +62-21-2555-6782
Homepage: www.powerpr.co.id

Source: Govt of Indonesia, East Kutai Local Govt

Copyright 2013 ACN Newswire. All rights reserved.

More Stories By ACN Newswire

Copyright 2008 ACN Newswire. All rights reserved. Republication or redistribution of ACN Newswire content is expressly prohibited without the prior written consent of ACN Newswire. ACN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
Presidio has received the 2015 EMC Partner Services Quality Award from EMC Corporation for achieving outstanding service excellence and customer satisfaction as measured by the EMC Partner Services Quality (PSQ) program. Presidio was also honored as the 2015 EMC Americas Marketing Excellence Partner of the Year and 2015 Mid-Market East Partner of the Year. The EMC PSQ program is a project-specific survey program designed for partners with Service Partner designations to solicit customer feedbac...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change t...
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...
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
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.
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 expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Internet of @ThingsExpo, taking place November 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 Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
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...
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 & ...
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...