Soemadipradja & Taher represents PT Kredit Pintar Indonesia in a successful challenge to KPPU price-fixing decision

Soemadipradja & Taher (S&T) recently represented PT Kredit Pintar Indonesia (KPI) before the Central Jakarta District Court in legal proceedings regarding an objection to a decision rendered by the Indonesia Competition Commission (KPPU).

The KPPU decision ruled that KPI and 96 other companies engaged in the peer-to-peer lending sector had engaged in price fixing in relation to fintech lending interest rates, and imposed aggregate fines amounting to IDR 755 billion. KPI and several other respondents subsequently submitted an objection against the KPPU decision to the Commercial Court. The Commercial Court ultimately annulled the KPPU decision, marking a significant development in the application of Indonesian competition law to the fintech lending sector.

Our team was led by Partners Verry Iskandar and Romi Emirat, supported by Senior Associate Valeri Soekarno and Associate Nurfalaqy Rusdianto.