Wednesday, November 04, 2009

Legal Aspects relating to Financing Business Projects

  • Financing  Business Projects are very interesting from the legal aspects for a Business Lawyer. From my experience in practicing as as  Business Corporate Lawyer in Indonesia, we are frequently involved in giving advise and assisting our Clients to draft or review their financing arrangement which are covered by a Loan Agreement. This  was  being experienced by the Writer as a Business Lawyer since Year 1980 ies, starting as a Junior Lawyer who  assisted the Senior Layers  in drafting the finance transactions and arrangement relating to financing their  Vessels including air planes 
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  •  What makes us attractive to such finance arrangement as Business Lawyer is because there are several  elements that have to be taken into considerations. Business Lawyers must be aware that before the Debtors are approved to get this  Funds from the Creditors, based on  the Indonesian Business common practices, such Creditors  shall firstly  conduct the Legal Due Diligence,  which shall be conducted by Independent Lawyers; This Legal Due diligence covers the checking of all the corporate documents  Licenses, Agreements with other Parties, including any Credit Agreements and its Collateral, the amounts of Labors, The Company Rules, The Employment Agreements, Title ownership of its assets, Certificate of Lands/Buildings, the potential Litigation or Arbitration cases ( if any) which involved such Debtors. Based on the Legal Due Diligence, the Independent Lawyers may be requested to make the Report Result of their Legal Due Diligence and may be requested to issue and make a written Legal Opinion addressed to the Creditor/Bank
  • Besides the Legal Due Diligence, the business prospective of such Investor including the technical aspects are also being conducted by the Bankers as the Creditors. The Creditor will usually request the Investors to make their business presentation, and business cash flow projection  in order to get the overall and comprehensive business prospective in particularly, the cash flows, cash out and cash in streams of such respective credit applicant, to ensure the repayment of the Loan. The most significant element in business is the trust worthiness of such loan applicant, and the capabibilty to repay any and all of the Loan Amount being granted by the Creditor.
  • In other words, the most relevant questioned raised by the Bankers or the Financiers are whether the applicant's cash flow prospect are bankable or not. These initial steps are really important and significant, because once the Monies or the Funds are being disbursed by the Bankers in accordance wityh the agreed repayment schedule as shall be stipulated under the Loan Agreements , the Bankers shall be in the risk of non- repayment or default of payment by the Debtor.

  • In order to secure the full repayment of the Loan by the Debtor to the Creditor, there are several collateral known and recognized under the Indonesian Laws and regulations among others  the Fiduciary upon the movable as well as immovable assets, the Hak Tanggungan (or in other countries are known as Mortgage) upon the land owned by the Debtor.The Fiduciary Deed shall be registered in the Fiduciary Office, at  the places where the assets are located.
  •  Once the Pre-Condition under the Loan Agreement are being completed, by the Debtors, as being advised by the Business Lawyer, the Bankers will disburse the amount of Loan in accordance with the disbursement schedule under the Loan Agreements pursuant to the mechnisme of drawndown under such Loan Agreement.  The actual disbursement of the Monies made by the Bankers to the Debtor are the most significant matter for the Debtor, since this Loan is really needed by the Debtor to perform its business operations. Normally there will be a certain Grace Period granted to the Debtor before repayment obligation of the Loan are to be made by the Debtor, pursuant to the terms and conditions of the Credit /Loan Agreement.   
  • If the progress  track record and the outcome of the business is a successful one, than such respective success Investors has shown a good re- payment loan performance , and the Bankers shall be willing to offered again further loan to such respective Debtor. From the Writers experience as a Business Lawyer who frequently assisted Clients on seeking funds from Banks to support their business operations, it shows that the Bankers may also need some expertise within themselves to understand the business culture or business nature of our Clients. If our Clients happens to be business players in OIL GAS Mining sectors, the Bankers may  need some education from the oil/gas and mining business players as to the nature of the oil/gas and Copper Mining or Coal Mining business operations including the exposed risks that might occur and the laws and regulations surrounding the business nature in such sectors.
  • The Business Lawyer must advise the Bankers, that Banker  who are granting loan to Oil/Gas or Mining Companies conducting operations in Indonesia, must fully be aware that the oil/gas as well as the minerals which "had not yet passed the point of export", cannot be secured as collateral for the repayment of the Loan or Financing transactions, since such minerals/coal and oil and gas are still owned by the People of Indonesia based on the Concept  adopted under the Indonesian Oil/Gas Laws as well as the Mineral and Coal Law.Thus we have to remember that under the Indonesian Legal system regulating the oil/gas and General Mining sectors, the Oil/ Gas Product  as well as the Mining  Products may only be owned by the Investors, if such product already passed "the point of export", where transfer of title on such oil/gas product occurs.
  • Accordingly,  the Bankers have to really conduct the economical commercially  aspects of such Debtors business, which may need some inputs from the technical people who are expertise in giving ideas and inputs on the oil/gas and minerals/coal deposits in the Oil/Gas and Mining Block in Indonesia.
Agung Supomo Suleiman
Partner Law Firm Suleiman Agung Co
AGUNGSS BUSINESS LAWYER NOTE

BUSINESS LAWYER Jakarta, Indonesia,
30 October 2009

Monday, November 02, 2009

Business Lawyer must honor Honesty and Good Corporate Governance





  • Financing  Business Projects are very interesting from the legal aspects for a Business Lawyer. From my experience in practicing as a  Business Corporate Lawyer in Indonesia, we are frequently involved in giving advise and assisting our Clients to draft or review their financing arrangement which are covered by a Loan Agreement. This  was  being experienced by the Writer as a Business Lawyer since Year 1980 ies, starting as a Junior Lawyer who  assisted the Senior Lawyers  in drafting the finance transactions and arrangement relating to financing their  Vessels including airplane.

  • What makes us interesting to such finance arrangement as a  Business Lawyer,  is because there are several  elements that have to be taken into considerations. Business Lawyers must be aware that before the Debtors are approved to get this  Funds from the Creditors, based on  the Indonesian Business common practices, such Creditors  shall firstly  conduct the Legal Due Diligence,  which shall be conducted by Independent Lawyers; This Legal Due diligence covers the legal checking of all the corporate documents,  Licences, Agreements with other Parties, including any Credit and its Collaterals, Title ownership of its assets, Certificate of Lands/Buildings Agreements, the amounts of Labors, The Company Rules, The Employment Agreements, the potential Litigation or Arbitration cases ( if any) which involved such Debtors. Based on the Legal Due Diligence, the Independent Lawyers may be requested to make the Report Result of their Legal Due Diligence and to issue and make a written Legal Opinion addressed to the Creditor/Bank.
  • Besides the Legal Due Diligence, the business prospective of such Investor including the financial  and technical aspects are also being conducted for the interests of the Bankers as the Creditors. The Creditor will usually request the Investors to make their business presentation, and business cash flow projection  in order to get the overall and comprehensive business prospective in particularly, the cash flows, cash out and cash in streams of such respective credit applicant, to ensure the feasibility of the Debtors business and to ensure the repayment of the Loan. The most significant element in business is the trust worthiness of such loan applicant, and the capabibilty to repay any and all of the Loan Amount being granted by the Creditor.
  • In other words, the most relevant questioned raised by the Bankers or the Financiers are whether the applicant's cash flow prospect are bankable or not. These initial steps are really important and significant, because once the Monies or the Funds are being disbursed by the Bankers in accordance with the agreed repayment schedule as shall be stipulated under the Loan Agreements, the Bankers shall be in the risk of non - repayment or default of payment by the Debtor.
  • In order to secure the full repayment of the Loan by the Debtor to the Creditor, there are several collateral known and recognized under the Indonesian Laws and regulations among others  the Fiduciary upon the movable as well as immovable assets, the Hak Tanggungan (or in other countries are known as Mortgage) upon the land owned by the Debtor.The Fiduciary Deeds shall be registered at  the Fiduciary Office, at  the places where the Assets   are located.
  •  Once the Pre-Condition under the Loan Agreement are being completed, by the Debtors, as being advised by the Business Lawyer, the Bankers will disburse the amount of Loan in accordance with the disbursement schedule under the Loan Agreements pursuant to the mechnisme of drawndown under such Loan Agreement.  The actual disbursement of the Monies made by the Bankers to the Debtor are the most significant matter for the Debtor, since this Loan is really needed by the Debtor to perform its business operations. Normally there will be a certain Grace Period granted to the Debtor before repayment obligation of the Loan are to be made by the Debtor, pursuant to the terms and conditions of the Credit /Loan Agreement.   
  • If the progress  track record and the outcome of the business is a successful one, than such respective success Investors has shown a good repayment loan performance , and the Bankers shall be willing to offered again further loan to such respective Debtor. From the Writers experience as a Business Lawyer who frequently assisted Clients on seeking funds from Banks to support their business operations, it shows that the Bankers may also need some expertise within themselves to understand the business culture or business nature of our Clients. If our Clients happens to be business players in the oil, gas or mining sectors, the Bankers may  need some education from the oil/gas and mining business players as to the nature of the oil/gas and copper mining or coal mining business operations including the exposed risks that might occur and the laws and regulations surrounding the business nature in such sectors.
  • The Business Lawyer must advise the Bankers, that Banker  who are granting loan to Oil/Gas or Mining Companies conducting operations in Indonesia, must fully be aware that the oil/gas as well as the minerals which "had not yet passed the point of export", cannot be secured as collateral for the repayment of the Loan or Financing transactions, since such minerals/coal and oil and gas are still owned by the People of the Republic of Indonesia based on the Concept  adopted under the Indonesian Oil/Gas Laws as well as the Mineral and Coal Law.Thus we have to remember that under the Indonesian Legal system regulating the oil/gas and general mining sectors, the Oil/ Gas Product  as well as the Mining  Products may only be owned by the Investors, if such product already passed "the point of export", where transfer of title on such oil/gas product occurs.
  • Accordingly,  the Bankers have to really conduct the economical commercially  aspects of such Debtors business, which may need some inputs from the technical people who are expertise in giving ideas and inputs on the oil/gas and minerals/coal deposits in the Oil/Gas and Mining Block in Indonesia.
Those are among others the legals aspects surronding the Finance transactions in Indonesia.
Agung Supomo Suleiman
BUSINESS LAWYER Jakarta, Indonesia

November 2, 2009

Friday, October 23, 2009

Business Lawyer must also detect Brain Versus Heart


  • In order for you to be able to survive you have to be tough and sometimes tired and losing your breath. 
  • You have to access your asset, your strenght, your weakness, and what  you want out of your life.
  • If you like to do something that you love then it means you are following your heart
  • If you are using more on your brain, there are times where such Brain does not communicate well with your Heart.
  • For instance if you love somebody, you shall face the fact that love is sometimes blind, in the sense that frequently it does not meet or match with your mind. There are times that you have to use your Brain, logical way of thinking, but sometimes you are caught or trapped with your emotional feelings of your Heart .
  • For instance for a writer or Publisher including if you happen to be a Business Lawyer , we tend to like writing in our Blogs, where it makes you feel comfort, since you like to write what ever there is something popping up in your head. You also have to detect your self whether you are an educator who tries to share your Business Lawyer experiences with others or not.
  • If you are an educator, it really feels cool and comforting in your heart,  if you write your experiences of  your life, especially if you have been living for quite a long time in this world, where you tend to share with others about your life experiences. It could be the ups and downs of your life experiences. If you are  are a Business Lawyer for example, sometimes the reality which your are facing is that you have to establish some stage or level of Legal Fees for the Legal Services that you are rendering to your Clients.
  • But there are occasions,  where your Client will feel that your Legal Fees are to high, for which they will tend to no longer use your legal services, since from your Client's body language,  you can capture that they are considering  your legal fees are too high or above their expectations.
  • You may noticed that your Clients /Customers are also in the same difficult situation to survive, especially at the time when everybody is waiting for the new Cabinet of Indonesia to be established and  announced, since the previous House Of Peoples' s Representative and the President /Vice President Election Year 2009 in Indonesia, to maintain stability and conducive business climate.      
  • In this case,  you also tend to  feel whether it is still  profitable to keep on being a Business Lawyer, if your legal fees cannot cop up with the cash outs which you have to spent to run your own  Business Law Firm.   
  • This appears to be sort of a weird  situation,  if you as a Business Lawyer are running your own Law Firm, especially if you are in the level of surviving,  since the position of your firm is not in that certain middle or high level position,  where Clients are no longer viewing the Legal Costs that they will incur, but rather needing such Big Firms to  jack up their reputation and image in the Business Circles by using such Big Law Firms.
  • During the last years, my Clients are usually Clients who are also trying to survive, and who seeks to sell out part of their equity, or trying to refinance their debt,  for which,  it is rather kind of a survival situation for them, because they are also trying to seek monies / funds to make them survive during this hard economical situation.
  • Well, after listening closely to  the Presidential Speech during his appointment by the MPR / Peoples House of Representatives in Indonesia, it sounds that  President Soesilo Bambang Yudhoyono  is a State man, optimist and is asking all the people of Indonesia to unite and start focusing on the State Prosperous, Welfare and Justice
  • So we are all expecting to have a positive attitude  in the coming days and so let Our Brain and Heart communicate each other in a balance manner.
  • Cheers, 
  • Jakarta 23 October 2009
  • Agung Supomo Suleiman 

Wednesday, October 21, 2009

Communicative Business Legal Writings By Business Lawyer

  • As a Business Lawyer, when you are writing legal business articles  in your business blog what you must be aware of is that not all of your audiences are having lawyer profession background.   
  • Thus, your writing must be communicative with the viewers.
  • Accordingly, you have to use words which is understandable with your viewers.
  • The more you use legal jargon which can not be digested or understood by your viewers, it is a sign that you are just busy with your legal professions and blocking your communications with the viewers.
  • Business Lawyers must practice and try to learn to communicate with non lawyers especially the businessmen, management, end-users which may consist of various professional disciplines.
  • Team work between various of discipline of professionals and expertise have to be established,  since at the end of the day your role as Business Lawyer must be beneficial and and can be perceived as having an added value with your business circles and community.    
  • As a Business Lawyer, you may be master in your legal business professions, but if you fail to pass the message to your viewers you may be useless in the view of the non-lawyers background.
  • Don't forget that your viewers in the business community are smart people and can easily know whether you are trying to establish a good team work communication with the viewers, or whether you as a Business Lawyer,  are still busy with yourselves and fail to communicate and pass your message with your audiences.
  • We are all learning from our mistakes and every moment of our live we have to correct, learn and increase our capability of establishing a fruitful effective communication with all our viewers.
  • Cheers. May your days to come be more fruitful and beneficial to yourself  and others
  • Jakarta, 25th October 2009    

Sunday, October 18, 2009

Honesty and Good Corporate Governance to be Kept by Business Lawyer

  • as a Business Lawyer you have to maintain a certain honesty, good conduct and attitude, since trust and integrity is significant attitude that have to be established and maintained by every Business Lawyers. Sometimes you feel you do not know what to do with your business legal knowledge which you have experienced many years of your life. It is really an asset and you are trying to find out a way how you can survive and be a good part in the business society especially relating to your expertise and flying hours. 
In the business world everybody is trying to get a piece of the cake of the projects which are being pursued, developed, created,  occurring and happening all the time in this world. From the Macro perspective, many countries are fighting for their part of contribution in shaping this new era that we are experiencing. G8 is replaced by G20 where new faces are being included in making and shaping the world future stability in the economics trend.  The Global economic crisis had forced many countries to consolidate their financial capability and performances.
  • In the news media we noticed that in a potentially momentous move, G20 had resolved to become a permanent body responsible for economic co-operation, where meeting  will be held annually at the level of leaders, rather than just finance minister. You may see the following  Pitsburg Summit The move demonstrates a recognition that the more limited G8 was hopeless, since it excluded the emerging economies of China, India, South Africa, Mexico and Brazil. We noted that Obama wanted to shift emphasis to G 20. In the Pittsburg Summit a final communique decided that they had designated G20 to be the main forum for their international economic co-operation. Among the other agreed steps,  were a move to give developing countries a greater share in the votes at the international finance institutions such as the IMF and the World Bank.Under this new regime, it was said that the IMF will regularly analyse whether the economic policies of G20 countries are consistent with "sustainable and balanced trajectories for the global economy .
Based on the above, we can observed that many groupings are being established   by the world leaders in order to survive and compete among the nations. We maybe witnessing the new era where due to the greediness of some of the players in the business world, many huge companies especially in the financial sectors are collapsing, and going bankrupt, due to the dishonesty of the players in exposing the false data and profile of their financial real conditions or bubble economy.
  • From to the news media, we can see that there are certain people stealing monies from unsuspecting investors.So honesty and integrity plays an important role in this rough business world. There is a great change in the  mapping of the big players in the political, economical, culture and legal reformation. As shown above China India South Africa, Mexico and Brazil. are considered  being the new emerging economic countries, where they may  have a big role in the changing and founding  new ways to  establish  a NEW balance of  power influence among the nations in this world. 
In responding to the above developments,  legal reformation upon the legal rulings made by the Executives and the Parliament /House of the People Representatives of each country will play an important role in shaping the policy and direction of each respective country. The Free Trade and Free Economy Era , where Governments intervention was avoided,  which was once being the Master or the "Sacred Icon", are  being modified, which is shown by USA,  as the Father of the Free Market, where  the Government is bailing out many USA  Big Companies who are facing bankruptcy,  such as General Motors and Chrysler. This stimulus measures are made to save the US country from getting worse in this finance turbulance.  
  • The Prime Mortgage issue which relates to Property has an affect to other business fields and had spread  out to other parts of the world. Indonesia and the other Asian Countries had already experienced this Baill - out  Program by the Government during the Economic Crissis Year 1998.With respect to the above Business Lawyers, in the pragmatical micro scale, have to be smart,  in viewing the above developments, in the sense that "Honesty" and "Good Corporate Governance" must play an important role in giving Legal Advices, Legal Opinions which frequently is structured and designed, based upon the the Legal Due Diligence upon the data/information  given by the Investors which shall be used by the Counter Part  either it is a prospective investors or financier to maintain honesty and good corporate governance to protect all the associated business stakeholders.
Well, the above is my observation as a Business Lawyer, who is trying to tap on the latest progress and trend emerging in this world related to Business Trend.
  • Jakarta, 18 October 2009
  • Agung Supomo Suleiman   

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Thursday, October 15, 2009

Law Does Not Work On Empty Space


  • As a Business Lawyer you have to know that law does not rule something which is vacant.
  • So the object that you are intending to view from the legal aspects  are NOT related to Empty Space
  • Accordingly, since you are a Business Lawyer,  you have to be aware of  the business object which your Clients wants you to protect from the legal aspects.
  • You have to make sure that Businessmen in conducting their business, wants  to ensure that their investment or monies thrown in their business   are well legally protected and desires  to get profit out of their business ventures.
  • For instances Businessmen or the Investors want to make sure that their monies either from Loans or Prospective Investors, which are invested or capitalized  in their Hotels Business which includes Fittings, Buildings, Lands,  all Fixed items and the moving assets, which will be part of the Hotel Accessories including the Manpower (from Management and all the supporting staffs) are secured starting from the Memorandum of Understandings, Legal Documentations of the Land and Buildings, Licenses needed, Loan Agreements, Cooperation Agreements, Management  Agreements, and all other documents and agreements, that are needed to be concluded including the Legal Due Diligence or Legal Opinion that are needed to be made depending on the negotiation and understanding between the Investors, Financiers, and all other  stakeholders relating to such Hotel Business Activities are really done and handled by Professional Qualified Business Lawyer.
  • So as you may notice there are wide range of knowledge that as Business Lawyer has to dig from your Clients to enable you to provide professional legal  services to your prospective Clients and for sure Law Does Not Work In Empty Space so the Object of the Business should be clear.
  • Cheers
  • Jakarta, 15th October 2009
  • Agung Supomo Suleiman
  • Partner Law Firm Suleiman Agung & Co     

Wednesday, October 14, 2009

Exiting Experience as a Business Lawyer




As a business Lawyer you have to really think hard how to market and expose your self. For me since I like writing, I tend to expose my self by writing in my Blog which is called AGUNGSS Business Lawyer Note. In this Blog I can write the Business Law Experience which I had experienced during this 30 Years since I practiced Law at the Law Firm of Adnan Buyung Nasution & Associates back to the year 1979. Wauw I was still young during that time of period. But it is really exiting working as a Business Lawyer where I had helped my Senior Lawyers during those period by starting making researches upon the Law data and policy obtained from the Technical Department concern, as well as starting to draft agreements and letters from the legal aspects.
I remember handling matters relating to  banking, financing, labor matters, insurance, financing shipping business, trademarks, patents and drafting  agreements to be reviewed by my Senior Lawyers. I even do some searches in Sampit Pangkalan Bun representing an Insurance Client relating to the insured Tug Boats,  its Barges and Heavy Equipments such as Tractors being loaded and shipped for a saw mill deep inside Kalimatan, where the Barges were stranded at Pangkalan Bun, Sampit. There was no modern phone devices during those days, so it was rather hard to make contacts and communications with our Law Office at Jakarta. We were chartered a small Plane,  which flies very low and near the surface of the River at Kalimantan and was piloted by an Ex-American Pilot who experienced in Vietnam. Yes, it was really exiting experience which was occurring at the end Year of 1979. Well, the above was one of my experiences as a Business lawyer handling insurance cases  related to a stranded Barge at Pangkalan Bun Sampit, Kalimantan, Indonesia.
Cheers,
Jakarta, 14 th October 2009
Agung Supomo Suleiman  

Tuesday, October 13, 2009

Snap Shot Business lawyer

As a Business Lawyer you have also experienced yourself  running your own boutique Law Firm Shop, where there is the ups and downs of your cash flow
It is really not easy to run your own boutique shop
When you are an in-house Lawyer in a Company, the endusers as well as the management will come to your place to ask for your legal assistance;
Whereas, if you are opening your own shop, you have to market yourself to your Clients. You have to tell to them who you are and what can you do in terms of Legal Services.
So there must be a "mental switch" for you as the Partner of the Boutique Law Firm.
There is no free lunch in this world. You have to be expert in some legal aspects relating to the business environment. You have to go around and meet people outside your office.
As long as you like your new venture being an Independent Lawyer running your own Shop there will be an opportunity for your to get some work from your networks and links.
So, go out and meet people, and try to make new friends within your business legal expertise
Cheers
Jakarta 9 October 2009
Agung Supomo Suleiman

Monday, August 31, 2009

Honest Integrity



  • As a Lawyer including Business lawyer you are required to keep and always maintain your honest integrity.
  • In this Holy Fasting Month, as a Muslim (one who surrenders to God's will) , we are being required by the Creator to conduct fasting for 30 days.
  • As a professional lawyer, we have to do with our best to be honest to ourselves by trying to clean our hearts and our mind.
  • In order to clean your surroundings, you are supposed to firstly clean your intention and your mind set.
  • As a human being we are frequently sidetracked by our physical wants and greediness in this real world
  • Human being consists of physical element (our body) and non - physical element ( mind -soul).
  • Our physical body during this Fasting months is being trained to managed itself by waking up in the early dawn before the Subuh Prayer, to “take food” and is obligated to fast –stop eating – taking food - during the day time - and is allowed to “break Fasting” during the Sunset – Magrib.
  • As Muslims – the Servants Of Our Creator - we are being trained to feed our Soul by – not doing things which could –jeopardize – our fast- by not talking bad -evil things- looking at bad -evil things – thinking of bad thinks – praising and always thinking of GOD – and do the goodly things and actions – which are loved by GOD- to increase our awareness of "our real mission" - being created in this world by the ALL MIGHTY.
  • This is a method to clean and purify our mind and soul – as being taught by our Creator.
  • Well, as a Lawyer, we really have to be thankful, to our Creator, because we are given the chance every - 11 months cycle - to contemplate – and re-evaluate ourselves – to remind and trained our selves to be focus and return back to our mission – to be honest to our selves before we can advise others – to do the right things – in accordance with the laws and rules - which has to be in line with God's will and God's wants as described in the Holy Books sent down by the Creator to us through God's messengers/Prophets .
  • This does not merely apply to lawyers - but also to other professions – to focus on its real mission – in making this world a better place for living – in accordance with the life rhythm and cycles – as being designed by the Creator
  • As human being we have to recognize – and identify - who we are, develop our awareness – and know the real reason and mission – why we live and die – because – based on Surat 21 – Al Anbiyaa ( The Prophets ) Paragraph 35 – of the Holy Book Al Quran - GOD says : “Every Soul shall taste death. We (God) shall test you with (Note : my interpretation : evils/ negative/downs/happy things ) and ( Note: my interpretation :good deeds /positive/ ups/sad things) as trial. And to Us (GOD) shall you be returned to.
  • Salam,
  • Jakarta, 31 August 2009
  • Agung Supomo Suleiman

Monday, June 29, 2009

Drafting Finance and Corporate Documents

  • We have to thank to the ALL MIGHTY, last week, as a Business Lawyer, we were really busy in assisting the Law Firm of Suleiman Agung & Co' s Clients.
  • It was really interesting, because with our wide experiences in drafting finance agreements including corporate documents related to their business matters, we really enjoyed the challenges of drafting such business transactions to support and benefit your Client’s desires in exploring all the legal protection for their investments and funds for maintaining the continuity of their business goals and objectives.
  • The level of comfort and confidence that you can establish to your Client is really important in maintaining your relation with your Client.
  • One of the significant element besides such work is the “miracle” that you feel can happen in your life, if you really try with your best efforts to keep on maintaining your closeness contacts and channels of communication with the ALL Mighty, who at the first place, had created this Universe, including any and all the elements contain in this world, which shall enable the human to be able to increase their quality of life.
  • For instance the element of steel and iron (fe) had been planted as one of the significant element in this earth, which really helps the people living in this world to increase their quality of life, if they want to use their brain and skill.
  • In the structural construction of high rise buildings, you will need the iron bar to establish the concrete and structure of such high rise buildings.
  • This raw materials of steel and iron is not created by mankind, but is already there incorporated and planted in the earth that we live in, as part of the materials found in this world.
  • As a believer in GOD, as the creator of this Universe including the world that you live in, we have to be creative in taking and processing such iron and steel to create for instance iron bars, flat bars and angle bars for the constructing of high rise buildings.
  • Other materials such as copper are also important part of the elements contained in this world, which can be utilized by mankind to make joints of electricity components and other important tools which are needed to support our day to day modern life.
  • We really have to thank GOD the ALL MIGHTY who provided us brain and mind so that we can optimize our skills in developing such elements of iron, metal, copper for the benefit and good welfare of mankind.
  • We as Business Lawyers must equipped ourselves, with the legal business knowledge and skills to enable us in drafting the required business legal documents such as the Financing documents, Credit Revolving Agreement, Shareholders Loan Agreements and the corporate documents such as the Extraordinary General Shareholders Meeting, the Share holder Agreement, the Joint Venture Agreement, to support our Client’s Business need in communicating and incorporating their wishes and desires in producing the components of metal, copper and iron, nickel for the benefit of mankind, to make this world a better place for living;
  • The above has to be in line with the desires of the Great Creator of this Universe to maintain good welfare and increase the benefit of all human beings living in this same 1(one) world.
  • By thanking to GOD for the gracefulness and Kindness to us in equipping us with the Brain and minds in the mining, exploiting the raw elements of steel, iron, metal, nickle to develop and produce them to become iron bars, electricity component, and the skills for the Business Lawyer to draft and prepare all the necessary business documents including the Mining Contracts, Financing Contracts and the necessary Corporate documents, we shall hope that we may be useful to increase the quality life of mankind and make this world a better place to live in.
  • Jakarta, June 29, 2009
  • Agung Supomo Suleiman
  • Partner of LAW FIRM Suleiman Agung & Co

Monday, June 01, 2009

11th Anniversary Years Suleiman Agung & Co

  • Thanks to ALLAH THE ALLMIGHTY, it is today the 11th Anniversary Years of THE LAW FIRM now called Suleiman Agung & Co since 1st June 1998.
  • This Law Firm has been 11 Years assisting Clients in the Oil Gas Sectors, Coal Mining Sectors, Coal Traders and Financier, Hotels, High Rise Buildings, Hospitals
  • We assists Clients in preparing the Memorandum of Agreements (MOU), Cooperation Agreements, Joint Operation Agreements who are desiring to seek investors, acquiring assets of Hotels, joint operations in the oil and gas Sectors, Financing the Coal Mining Companies who needs finance assistance for their Coal Plants, jetties, and their operations sites.
  • We assists Clients in preparing their financing agreements and its collateral documents and fiduciary deeds and registering such Fiduciary Deeds in the Indonesian Fiduciary Office.
  • Our Firm conducts legal due diligence of the legal documentations and legal transactions and other legal aspects, and licences and prepared the Legal Report for assisting our Clients to give show the proper legal documentation which are required to be shown to the investors or the financier of the certain joint Project /investment to be pursued.
  • Our Law Firm knows the significant legal aspects surrounding our Clients business transactions who desires to be success in their business ventures
  • Thanks to GOD the ALL MIGHTY for GOD's Gracefulness for allowing this Law Firm SULEIMAN AGUNG & Co, to celebrate its 11Th anniversary Years on the 1st June 2009.
  • May God Bless You all.
  • Jakarta, 1 st June 2009 revised June 17, 2009
  • 11th Anniversary Years Suleiman Agung & Co
  • agung supomo suleiman

Wednesday, May 27, 2009

NETWORKING FOR SUCCESS

  • Today is the 27th May 2009. It is near to the 1st June 2009 which is nearly 11 Years since June 1, 1998 where I had started to open the Law Firm which is now called Suleiman Agung & Co. This Law Firm Suleiman Agung & Co had been operated nearly 11 Years.
There are sacrifices financially, mentally, emotionally in running this Law Firm.We have experienced handling international and local Indonesia Companies.Several problems of cash flows are normal since certain local Clients are also striving with their business financial problems.Thanks to GOD the ALL MIGHTY, we managed to cop with our cash flows. This Law Firm of Suleiman Agung & Co is an aggressive Boutique Law Firm where, who knows how to assist Clients in handling with their legal aspects to guard their investments
  • I am really lucky and thanks to GOD as the Founder and Partner of this Law Firm Suleiman Agung & Co I had experienced practicing as Business Lawyer for 5 Years as in House Legal Counsel in one of the Biggest Copper Mining called PT Freeport Indonesia who also produces gold, 5 Years as in House Legal Counsel in Vico and Oil Gas Company operating in East Kalimantan,who produces gas, processed as LNG (Liquidated Natural Gas) in Bontang to be exported to Japan, 5 Years in a reputable Law Firm Adnan Buyung Nasution & Associates ( Nasution,Lubis, Hadiputranto) and 2 Years as Partner (with 15 % to 20% share in the Law Office of Delma Yuzar & Wiriadinata ( Wiriadinata & Widyawan) who was having association with Australian Law Offices and USA Law Offices. Having the above assets and experienced it benefits you as a Partner in capturing the business mind of our Clients who seeks to succeed in their venture.
Networking is the key to success.You have to always maintain and increase your network for success. With the help and permit of the ALL MIGHTY you can gain success by being professional, honest and sincere.
Jakarta, May 27, 2009 revised June 17 2009
  • Agung Supomo Suleiman

Monday, May 11, 2009

Link between Business and Spiritual

  • Its already 11th May 2009
  • Times goes so fast, business keeps on moving
  • its been nearly 11 Years since June 1, 1998 that I opened my law office which is now called Suleiman Agung & Co.
  • This firm had several times changes its Partners as well as lawyers
  • 11 Years in not a short period of time since my former working experienced at Law Firm Adnan Buyung Nasution & Associates ( Nasution, Lubis, Hadiputranto) for 5 Years ( 1980 - 1985), as In-House Legal Counsel for 5 Years ( 1985-1990) at Huffco Indonesia -VICO Indonesia ( Oil /Gas Company operating in East Kalimantan Indonesia, Partner at Delma Yuzar & Wiriadinata ( 2 Years 1991-1992),Legal Counsel for 5 Years ( 1993-1998) at PT Freeport Indonesia Company, and June 1, 1998 opening or as Founder of Law Firm Suleiman & Rekan which is now called Suleiman Agung & Co.
  • By experiencing in running this Law Firm for nearly 11 Years, I have learned lots of things especially how to be prepared mentally, emotionally, physically, financially, spritually in handlng cash in and cash out flows problem in running this Law Firm now called Suleiman Agung & Co
  • Its is really not easy to survive running your own Law Firm
  • You have to be tough, and patient, and you have to find the perfect strategy to market yourself.
  • For me myself I tried to expose this firm and myself as the Founder and Partner by opening several Blogs such as this BLOG.
  • I also had published articles in ALLVOICES GLOBAL MEDIA
  • Well as part of the inhabitants in this wide global world, we have to try to establish communication and networks
  • I have also created my AGUNGSS Spiritual Blogs which I also link it to ET HEALING COMMUNITY
  • Quentions may arise: Why am I linking these Spiritual Blog and my Business Lawyers Note Blig, is because, by my life experience, you cannot separate your Business Life and your Spiritual life.
  • My experience concludes that this world including the business activities does not just "pop up out of the blue" and creates by itself, but there must be a GREAT POWERFUL CREATOR who had created this Universe, including the world where we live in, where there are lots of Natural Resources such as Oil,Gas,Coal, Nickel,Iron, and Plants, Air that we breath to live, water that we drink which keeps us alive, which are all not "just popping up by accident", but these significant element, must have been created intentionally by the GREAT CREATOR though a very well planned and designed blue print.
  • The signs of the Greatness of this GREAT CREATOR are "this live itself", the circulation of night and day, rotation of the Sun, the moon, bright and night, which creates life cycle and biorhythm clock cycles.
  • The power of every nation is being rotated and circulated, are part of the demonstration of signs shown by the GREAT CREATOR.
  • If a Nation gets so Powerful, this Nation is really being tested by the ALL MIGHTY whether such Nation is arrogant or thankful to the ALL MIGHTY
  • Wealth, Power, prosperity, poorness, powerless,
  • You can found the stories of this previous great NATION such as the King called Firaun or Farouh in Egypt, where Moses was being sent down to this Nation, was to remind this Nation, to come back to the Right Track, which are recited in the Holy Books which were sent down by The Creator through The Creator's Messenger, for instance for me as a Muslim you can found such stories, in the Holy Quran, where life cycles including the Universe and the Planets are all rotating, which really shows the Greatness Creation by the CREATOR for those who wants to learn and use their brains.
  • In Business community, where Wealth and Capital accumulation occurs, resulting Economical Power, if you loose contact or link with the Creator, as the Owner of this Universe and life, you will for sure you will end-up being selfish, and and became a greedy monster.
  • Well, this can be seen in the real world, where in order to maintain the continuity of your Power, such Nation will try to occupy and control the elements which are needed to maintain their power such as OIL and GAS, which is really needed to fuel the Industry, Airplanes, and other icon without regarding ethics and moral.
  • Well, having said the above, I just wanted to remind myself and hopefully the readers to keep on maintaining in the right track and road as shown in the 1st Surah Alfatihah of the Holy Quran, where God had stated : that GOD is the King of the Day After, where we have to worship GOD and pray and ask GOD to show us the Right Path which is the Path that had been shown by GOD to those that received God's Grace.
  • Well, folks this is all what I would like to share
  • Jakarta, Indonesia May 11, 2009
  • Agung Supomo Suleiman

Saturday, May 02, 2009

Business Match Makers

  • sometimes you feel desperate
  • You feel that you are stuck and tired
  • you need some time to think
  • For sure you need rest meaning take a sleep, really taking a deep sleep and rest your body and mind
  • Sleeping is very important, that is what I have experienced when you are stuck and don't know what to do
  • after taking such deep sleep, I feel like wanting to write again
  • here I am back in front of my lap top writing in my blog called My Experimental Blog
  • Yesterday, I have tried to make contacts between my Client who needs some funds for his business and a consultant strategy who is used to find investors or source of funds
  • In the discussion that was held, it appears that such consultant are focusing in health, education and media
  • from what I have observed, what this Consultant is focusing is on the human resources development in particular training the nurses including English language
  • What my Client, was actually seeking is funds needed to stretch its Credit Lines and purchasing of new equipments for my Client's Hospital.
  • We were escorted by the marketing staff of my client to make a tour on the hospital
  • It was really interesting tour so that you can get the glance overview of the hospital.
  • I am actually a business Lawyer, but yesterday I am trying to "meet-match" My Client's desires of trying to raise funds with a prospect party who could raise such funds.
  • Well, as we can see business activities are always trying to seek new opportunities for their respective business expansions, desires and needs.
  • We can sometimes makes our selves in the position as "match makers".
  • Networking, is the significant element keys
  • if you are in business environment, business networking is what you have to create and establish.
  • From a certain angle, me as a business lawyer, is also trying to seek opportunities how to make the people and parties in the business community meet each other, so that it will create new business opportunities, where if they had reach some common understanding then their business transaction shall be formulated in a business document among others business legal contracts, where the lawyers than shall enter into the screen to prepare their business transactions.
  • Well, folks the above are some real pragmatical day to day approach where you may also face and experience in your day to day life.
Jakarta , Saturday May 2, 2009 AGUNG SUPOMO SULEIMAN ALSO PUBLISHED In ALLVOICES GLOBAL MEDIA Partner Law Firm Suleiman Agung & Co BUSINESS LAWYER Jakarta, Indonesia, April 30, 2009

Law Firm’s Blog http://www.sacolaw.blogspot.com

Email : agungsacolaw@telkom.net

Saturday, April 25, 2009

Thursday, April 23, 2009

Tough and Possitive Attitude

  • Here I am back writing again
  • I really do not know what to write
  • there are times where you are busy and loaded with work but there are times where you have spare times to write in your blog.
  • as a lawyer, we tend to write, since we are used in making legal opinions, and legal advices or making reports upon the legal due diligence that we are required to do
  • it has been 11 years since June 1998, I had practiced as a business lawyer running this LAW FIRM SULEIMAN AGUNG & CO.
  • You have to have a positive mind and attitude
  • With the permit of GOD The ALL MIGHTY there are always way out, when you are in the edge of a cliff.
  • You have to be really tough and always trained yourself mentally, especially when the cash in are not as you have expected to be.
  • sometimes you really do not know where to go, and have to clear your mind and seek for a solution.
  • You have to think clear and face the reality of life.
  • By having these experiences you can feel how your Client's situation when they are in a need to bridge their cash flow situation.
  • they are striving hard to save the live of their company
  • I think whatever the commodities that you are selling, whether it is a hard product /tangible product or services such as legal services, you may face the similar reality situation.
  • In this kind of situation you have to really think hard.
  • Every entrepreneur appears to face the same situation
  • so mentally you have to be really strong and tough
Jakarta, April 23, 2009 revised June 17, 2009

Business Lawyer 's Mind

  • If you are experienced for a long time representing Business Clients
  • Your mind is shaped in such a way that you are forced to view and protect the investments that your Client are spending
  • For business Clients, Legal Certainty is really significant.
  • As a Business Lawyer you have to able to read the business minds and wants of your Clients
  • Time is really the essence in making business decisions and momentum shall be significant in making such business decision
  • Your mind as a lawyer have to follow the body gesture of your Client
  • at the end of the day you have to come up with some products of legal services as been required by your Client to serve their needs
  • such product can be a Memorandum Of Understanding (MOU) or Letter of Intent (LOI) as the staring point to jot down the intention of the parties who desires to enter into a mutual understanding between your Client and the co businesses counter part
  • as a classical issue the nature of the MOU or LOI is frequently questioned as to whether it is already a binding commitment between the parties or is it just and still a loose non binding arrangement which has no legal quensequence
  • In practice sometimes the nature of this MOU or LOI Intent differs one from the other depending upon the real intention of the parties.
  • If the parties are still intending to explore with other co- partners or co counter parts, then there is a certain limit period of time where the Parties are free to enter into another similar arrangement with other prospective investors upon the same business transaction or business arrangements, whithout have been regarded as breaching any commitments under such MOU.
  • If we analog it with marriage, then a "finance engangement" between a couple, migth be close to such MOU or LOI, depending upon the intention of the couples hehehe.
  • Well, folks, the above are some experience on the MOU exposures, which are usually entered by parties who desire and intend to explore a business arrangements for a certain projects in Indonesia.
Jakarta, April 23, 2009 Agung Supomo Suleiman Partner Business Lawyer Partner Law Firm Suleiman Agung & Co

Law Firm’s Blog http://sacolaw.blogspot.com

Email :

agungsuleiman@gmail.com

agungsacolaw@telkom.net

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Tuesday, April 21, 2009

Glance Snapshot on the new Mineral Law 4 Year 2009

  • After glancing the New Minerals and Coal Law No. 4 Year 2009, herein below is a brief glance snapshot of this New Law
  • As we can see in the reality mining operations practices the phase or stages of the Mining Activities are always having the same pattern which starts from the General Survey, Exploration, Feasibility Studies, Construction, Mining, Exploitation, purification, Transportation, Selling and Post Mining such as Reclamation.
  • These stages are also being accommodated in this new law.
  • The difference between this new law and the old law is that, there is no longer a Contract of Work ("COW") arrangement between new Mining Investors conducting operations after the enaction of this new law.
  • The Legal grounds to conduct the Mining Operations in Indonesia shall be based on Mining Permits being issued by the Authorized Governments of the Republic of Indonesia.
  • There are several Mining Permits which are being issued by the Authorized Government.
  • The Authorized Government consists of the Central Government and the Local Government Authorities (Provincial Government) and the Regency Government ( Pemerintah Kabupaten/kota)
  • Related to the issuance of the Mining Permits based on the Article 6 e, f, g, h, i, j the Central Government has the authority to determined the WP ( Mining Area), the issuance of the IUP (Mining Business Permits), IUPK Explorasi (Exploration Special Mining Permits) and the IUPK Operasi Produksi ( the Exploration Production Special Mining Permits) related to mining operations within the province area and/or sea Area from 12 miles from the costal line.
  • The Provincial Governments based on Article 7 b, c, d, has the authority to issue the IUP (Mining Business Permits) related to the production mining operations which is located within the Kabupaten/Kota and /or Sea Area 4 miles up to 12 miles.
  • The Regency Government has the right to issue IUP and IPR for the mining activities within the Regency Area (Wilayah Kabupaten) /Kota and or Sea Area up to 4 miles. ( Article 8 b, c).
  • The WP (Mining Area) as part of the national spatial area shall form the basis of determining the Mining Activities ( Article 9 (1) of New Law. Such WP is determined by the Central Government after coordination with the Local Government and Consultation with the People's House of Representatives.( Article 9 (2) New Law)
  • The determination of this Mining Area must be transparent, participative and accountable. This WP determination has to accommodate the relevant people's opinion by taking into consideration of the ecology, economy, social culture and environmental vision and the local aspiration ( pursuant to Article 10 a, b,c)
  • The Central Government and the Local Government is obliged to conduct mining investigation and research in the framework of determining this WP ( Mining Area).
  • In essence this WP consists of WUP (Mining Business Area), WPR (Peoples Mining Area) and WPN (The State Reserved Mining Area). ( Art.13 New Law).
  • One of the most interesting part is that this Mining Permits, is related to the Location of the Mining related to the Mining Minerals which will be explored, the total area of the Mining Area which of course is related to the amounts of capital investments, which is required for the exploration, exploitation and production, and the lenght of the Mining Permits which will be granted by the Authorized Government.
  • The condition of the Mining Permits has to be included in the Mining Permits, but not in the form of Contract of Works (COW) as we usually knew and practiced in the previous mining law.
  • Thus from the legal aspects, it is really interesting to be observed, since this Mining Permits, are more of a "one sided Mining Rights" which is granted by the Authorized Government, and may be revoked by the Government, if the Government decided that the Mining Contractor does not comply with the terms which is incorporated in the Mining Permits.
  • The other interesting issue, is that a Certain Mining Area could be determined as a Special Mining Area, if after consultation with the Peoples House Of Representative in such Mining Area, there is a mining deposit which for the National Interest can boost the economy growth, the energy strenght and the national industry strategy and increase the national competitiveness in facing the global challenges among others copper, gold, nickel, iron, coal.( Article 27 and its explanation).
  • well, folks, the above, is a glance snapshot of the New Minerals and Coal Law No 4 Year 2009.
Jakarta, April 21, 2009

Agung Supomo Suleiman

Senior Partner

Law Firm Suleiman Agung & CO

Blog Law Firm : http://sacolaw.blogspot.com

Email : agungsuleiman@gmail.com

Thursday, April 09, 2009

Election Day

  • In Indonesia today is an important day because it is the election day
  • we vote and elected the parties and the representative from such parties to be the peoples representatives in the Parliament
  • It was really interesting because there are so many Parties who participate in such election
  • The most important thing is that we are being given the chance to select our representative
  • from the registered entitled person to vote in my place it appears only 65% participated exercising their right to vote and came to the election poll
  • some of my friends in other places are not registered as entitled person even though they had been living in their places for a long time and had held the Identity Card as Registered habitat in their places for a long time
  • It appears that the system of the election committee has to be revitalized and improved because it makes the person who cannot participate feels really frustrated.
  • we do not know whether there was a deliberate intention since you may find many similar cases in other parts of the polling election experienced by my other friends.
  • well, we shall see the results of the election in this coming days
Jakarta, 9 April 2009 Agung Supomo Suleiman

Tsunami DeDolarization - Bricks - Asean Plus 3 Countries

We noticed from the Media Platform on the Internet that :  1. FAILURE OF SVB - SCHOCKED GLOBAL FINANCIAL MARKET  In March 2023, the failure ...