In Global Distressed
Alpha Fund I Limited
Partnership v PT Bakrie
Investindo1 (“Bakrie”)
the facts were as follows:
• The Defendant (“Investindo”)
was and is an Indonesian
entity and part of the Bakrie
Group, which owned and
controlled by the Bakrie family.
• Investindo wished to raise
finance by the issue of $50m
9.625% guaranteed notes (the
“Notes”), which it did via a
Dutch SPV in 1996 pursuant
to a Fiscal Agency Agreement
(the “FAA”). The Notes were
due to mature in 1999 and
repayment was guaranteed by
Investindo under a Deed of
Guarantee. Both the FAA and
the Guarantee were subject to
English law.
Location