Understanding the Supreme Court's decision on Manulife<\/p>\n
The Supreme Court has rectified the decision made by the
\nJakarta Commercial Court which declared PT Asuransi Jiwa Manulife
\nIndonesia (AJMI) bankrupt. The court declared the Canadian-
\nIndonesian insurance company solvent, hence allowing it to resume
\noperation.<\/p>\n
We are relieved to learn that the controversial decision
\ndeclaring AJMI insolvent has finally been rectified.<\/p>\n
However, do we truly feel relieved? Not at all. We feel sad
\nthat the Supreme Court has dismissed the Jakarta Commercial
\nCourt's decision.<\/p>\n
Why should we feel sad? That is because the Supreme Court's
\ndecision does not reflect the spirit of truth and justice.<\/p>\n
There has been strong pressure on the judicial institution.<\/p>\n
As can be seen, the pressure came from two sides. First, there
\nwas political influence. We know of the objection expressed by
\nthe Canadian government as well as by other countries, to the
\nCommercial Court's decision. The pressure was so strong that the
\nIndonesian government did not have much choice but to intervene
\nin the case.<\/p>\n
Second, there was economic pressure. Many businessmen, both
\nforeign and domestic, condemned the controversial decision.
\nForeign investors expressed their distrust toward Indonesia as
\nwell as their reluctance to do business in the country. At a
\nhigher level, there was the threat of the withdrawal of economic
\nassistance.<\/p>\n
-- Kompas, Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/understanding-the-supreme-courts-decision-on-manulife-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }