Michael S. Carl, an international legal advisor at SSEK Indonesian Legal Consultants, was a panelist at a recent one-day seminar in Jakarta organized by INSOL International. The seminar covered developments in the Indonesian Bankruptcy Law and key domestic issues that affect foreign creditors in Indonesia.
Michael was invited to sit on a panel on trustee and bondholder claims in Indonesian Suspension of Debt Payment Proceedings (PKPU), which have been a part of Indonesia's Bankruptcy Law since 2004 and provide creditors and debtors an avenue to avoid liquidation. The panel discussed strategies and approaches trustees and bondholders may take and obstacles they may face during PKPU proceedings.
Michael leads SSEK's bankruptcy and debt restructuring practice. He joined SSEK in 2004 and has more than 20 years of experience practicing law in Southeast Asia, principally in Indonesia.
Michael was previously with the international law firm Baker & McKenzie in its Singapore and Bangkok offices, where he represented companies in US debt and equity offerings and debt restructurings.
Michael is recognized by Chambers & Partners as a leading lawyer for Indonesian banking and finance, corporate/M&A, projects and energy, and real estate, and by IFLR1000 for banking, project finance, and restructuring and insolvency.
INSOL International is a world-wide federation of national associations of accountants and lawyers who specialize in turnaround and insolvency. There are currently over 40 member associations with approximately 10,000 professionals participating as members of INSOL International. This was the first INSOL seminar in Indonesia.