Restructuring/Insolvency
Asia-Pacific Guide 2025 : Indonesia
Band 1
About
Provided by Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills
Our restructuring, turnaround and insolvency (RTI) practice is one of the most experienced and successful in Indonesia and is highly regarded for its work with domestic and international clients in the most complex and significant informal financial restructurings and work outs, court-supervised debt restructuring, bankruptcy and insolvency.
As part of Herbert Smith Freehills’ Southeast Asia RTI practice, we offer unparalleled cross-border and local law capabilities, acting for some of the largest and most high-profile debtors, lenders and insolvency practitioners globally.
We are trusted by clients across sectors, including construction, energy, oil and gas, mining, aviation, shipping, infrastructure, real estate, financial services and TMT. This deep understanding of our clients' businesses sets us apart from our peers.
Our recent work highlights include acting for:
- Zipmex Exchange Indonesia (part of Zipmex Group) on its successful restructuring under Singapore’s Insolvency, Restructuring and Dissolution Act (IRDA)
- multiple lessors on the debt restructuring (PKPU) of Garuda Indonesia in overseeing implementation of the Garuda composition plan ratified by the Commercial Court to ensure the airline fulfills its repayment plan
- Credit Suisse, Singapore in the PKPU and bankruptcy of Indonesian real estate company Bina Bangun Mandiri
- Credit Star B in settlement of IDR304.5 billion bond instrument between Investree Singapore (as the issuer) and Credit Star B as the bondholder
Chambers Review
Hiswara Bunjamin & Tandjung has a strong reputation for its expertise in debt restructuring proceedings in Indonesia, providing local and cross-border advice via its association with Herbert Smith Freehills. The team is instructed on matters spanning the aviation, real estate, energy and TMT sectors, among others. Acting for both creditors and debtors, the team counts Credit Suisse, Greylag Goose Leasing and Bumi Resources among its clientele.
Work Highlights
- Hiswara Bunjamin & Tandjung advised multiple lessors including Nordic Aviation Capital in relation to the debt restructuring of Garuda Indonesia.
Notable Practitioners
Debby Sulaiman is a leading debt restructuring lawyer in Jakarta who is active across different industry sectors including aviation, property and energy. She advises both debtors and creditors.
"Debby Sulaiman is another top player in the market and pops up on a lot of cases. She is very smart, so intellectual and has a fantastic demeanour."
Ranked Lawyers at
Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills
Indonesia
Members
Provided by Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills
Head of Department
Hanny .
Harris Toengkagie
Clients
Provided by Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills
Credit Star B Limited
Nordic Aviation Capital
Stellar Aircraft Holding 2 Limited
Zipmex Exchange Indonesia
Industries
Provided by Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills
Aviation and Aerospace
Energy and Utilities
Financial Investors
Financial Services
Industrials, Engineering and Manufacturing
Maritime/Shipping
Property, Construction and Infrastructure
Resources and Mining
TMT