28 Jun 2022
Flag-carrier Garuda Indonesia’s USD 9.8-billion restructuring gets all clear for takeoff

 

ABNR would like to congratulate all involved in the recently agreed USD 9.8-billion debt restructuring for the country’s national flag carrier Garuda Indonesia, the largest ever aviation-sector restructuring (PKPU) in Indonesia.

 

The ABNR team, which was headed by partner Mr. Emir Nurmansyah and included partner Mr. Kevin Sidharta, foreign counsel Mr. Theodoor Bakker, senior associate Mr. Bilal Anwari and many other ABNR lawyers, represented creditors accounting for almost 50% of Garuda’s total debt.

 

Our clients included an aircraft manufacturer, an MRO vendor, the majority of an ad hoc group of aircraft lessors, other aircraft and engine lessors, an aircraft finance lease funding provider and several aviation supply chain providers and vendors.

 

Offshore law firms involved included Clifford Chance, Freshfields Bruckhaus Deringer, Norton Rose Fulbright, Winston & Strawn, LEXCO Société d'Avocats, and Reedsmith.

 

ABNR offers particular expertise in aviation-sector restructuring & insolvency matters, having previously worked on the PKPU of PT Mandala Airlines and the PT Metro Batavia insolvency, where we represented various aircraft-lessor creditors, engine providers and aviation services & supply chain vendors.

 

About ABNR

 

As the country’s longest-established law firm (founded 1967), ABNR pioneered the development of international commercial law in Indonesia.

 

Now with 23 partners (including Indonesian and foreign counsel) and around 84 other fee earners (including associates and of counsel), we are the largest independent, full-service law firm in Indonesia and one of the country’s top-three law firms by lawyer numbers, giving us the scale needed to simultaneously handle large and complex transnational deals across a range of practice areas.

 

We also have unmatched global reach as the exclusive Lex Mundi (LM) member firm for Indonesia since 1991 -- LM is the world’s leading network of independent law firms, with members in more than 100 countries.

 

ABNR is an equal opportunity firm, with more than 40 percent of our partners now being women. We are also committed to corporate social responsibility (CSR) in such key areas as education, the environment and human rights, as demonstrated by the training and scholarships we offer to aspiring young lawyers through the ABNR Foundation, and the pro bono services we provide to non-governmental and civil society organizations.

 

For more information on how ABNR can help you with your legal needs, please contact:

Mr. Emir Nurmansyah (enurmansyah@abnrlaw.com)

Mr. Ayik Gunadi (agunadi@abnrlaw.com) or

Mr. Nurdin Adiwibowo (nadiwibowo@abnrlaw.com)