CMNP Expert Witness Confirms MNC Regarding Sale And Purchase Transactions, Hotman: CMNP TKO Lawsuit

Lawyer Hotman Paris Hutapea. (Ist)

JAKARTA - The testimony of an expert from PT Citra Marga Nusaphala Persada Tbk (CMNP) is considered to reaffirm that the Negotiatable Certificate of Deposit (NCD) transaction issued by PT Bank Unibank Tbk (BBKU) is a buying and selling process.

Thus, MNC Asia's Attorney for Holding Hotman Paris Hutapea assessed that CMNP's lawsuit against his client had a technical knockout (TKO). He believes this, after hearing the testimony of expert witnesses from CMNP - who is also a lecturer at the Faculty of Law at the National University - Basuki Rekso Wijoyo.

Basuki emphasized that the NCD transaction was a sale and purchase.

In his question, Hotman described the NCD buying and selling transaction process.

Then, Basuki agreed. "Yes, that's if that's what was put forward," Basuki said in court.

The trial was related to the Negotiatable Certificate of Deposit (NCD) transaction issued by PT Bank Unibank Tbk (BBKU) for CMNP interests facilitated by MNC Asia Holding as an arranger/broker in 1999. CMNP always mentions that the NCD transaction is exchanging, not buying and selling as a hang document owned by MNC Asia Holding.

Met after the trial, Hotman also considered that the expert's testimony had made a lawsuit against CMNP with TKO status.

"Their lawsuit is TKO. Do you know TKO? Yes, TKO," said Hotman.

"They say that if there is proof of payment from a foreign party for the deposit (NCD), that means it's not a exchange. It's also called buying and selling, right? Paid with money," he added.

Hotman said that the fact that the NCD transaction process was buying and selling had also been emphasized in the decision of the Supreme Court (MA) which had permanent legal force.

"Yes, that's why I said earlier... oh my, this is, oh my, where is this lawsuit going, people? It's just that," said Hotman.

"So what happened was the sale and purchase of securities, they were paid cash, the cash was deposited by CMNP at the bank, it turned out that the bank was closed, due to the monetary crisis. Whose fault is this? Right? That's all," he concluded.