* The author assisted Michael Hwang, SC on this case briefly in the early stages. The author attended the first procedural conference call via video conference and is mentioned in Procedural Order No 1 as an assistant to Michael Hwang. The author ceased his employment with Mr Hwang in December 2012. The views expressed herein are those of the author.Foreign investors embroiled in large-scale fraudulent schemes make for tasty headlines and sensationalized tales. Churchill is no different. The investor-State dispute involved a corporation investing in a large-scale Indonesian coal mining project, the East Kutai Coal Project (EKCP) in the Regency of East Kutai on the island of Kalimantan. The EKCP controls the seventh largest coal deposit in the world and the second largest in Indonesia.1 Vying for resource licenses is commonplace and teaming up with a connected local partner can provide the right edge to secure the deal. Where it goes south is when the foreign investor’s local partner deviates from legitimate business activities into fraudulent conduct, including forging signatures of public officials. The two key issues discussed in Churchill are (1) the extent to which an investor can be expected to exercise diligence over its local partner and;
Journal of World Investment and Trade – Brill
Published: Apr 6, 2018
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