President Susilo Bambang Yu-dhoyono is telling his ministers to prepare for the worst after the government recently entered into arbitration with an international mining company.
During a Cabinet meeting on Thursday, Yudhoyono told relevant ministers to take needed steps to prevent such arbitrations in the future, as the case had affected him personally as the head of state.
Yudhoyono was referring to an arbitration filed by London-listed Churchill Mining Plc. that was registered with the International Center for Settlement of Investment Disputes (ICSID) in Washington, DC, on June 22.
“Please note that this case began at the regency level. But when it’s brought to arbitration, the President is the one who becomes the first defendant,” the President said.
“Imagine if such cases happened in hundreds of regencies in the country, and the President was nam...