Appellate Division of the Supreme Court of the State of New York August 29, 2017, 652890/14 (Universal Investment Advisory SA v. Bakrie Telecom Pte., Ltd.)

OPINION OF THE COURT

Kapnick, J.

This case arises out of an issuer’s and guarantors’ default in the payment of notes that were publicly offered in the international financial markets. Defendant PT Bakrie Telecom Tbk (BTEL) is a telecommunications company organized under the laws of Indonesia and is the parent of defendant Bakrie Telecom Pte., Ltd. (issuer).