JAKARTA – Mr Harun Abidin, a troubled businessman from Medan, Indonesia, has been declared to be in default of his legal obligations to Cedrus Investments Ltd by way of the Supreme Court of New South Wales, Australia, having registered a foreign judgment of the Grand Court of the Cayman Islands on 9 August 2017.
The dispute between Harun Abidin and Cedrus Investments Ltd, arose when Harun Abidin breached his obligations to repay his debt owed to Cedrus Investments Ltd, a company incorporated in Cayman Islands. In mid-2015, Harun Abidin began to miss scheduled payments to Cedrus Investments Ltd.
As a demonstration of good faith, Cedrus Investments Ltd granted multiple extensions in consideration of Abidin’s situation by extending the due date of the requisite payments. But good faith from Cedrus Investments Ltd was not reciprocated by Harun Abidin who chose to instead file false and misleading reports against Cedrus Investments Ltd in local Indonesian media.
Subsequently, Abidin continued to make misrepresentations and engaged in various unethical actions in order to avoid his obligation to repay debts owing to the company. Per Mr Wirawan Adnan from Sholeh Adnan & Associates, lawyer for Cedrus investments in Jakarta, Monday.
On 9 August 2017, the Supreme Court of New South Wales registered the judgment of the Grand Court of the Cayman Islands. Accordingly, it is now recognised that the outstanding amounts are payable under the Australian legal system.
The New South Wales Supreme Court further made enforcement orders on 28 September 2017 against certain assets Harun Abidin holds in Australia. (jj/op)