Prior to joining Walalangi & Partners, Victor Ricardo worked as an associate at a prominent law firm in Jakarta, where he gained knowledge and experience not only from major M&A and financing deals but also from high-profile commercial disputes tried before various international dispute settlement venues, including the Singapore International Arbitration Centre (SIAC), Singapore High Court, and International Centre for Settlement of Investment Disputes (ICSID).
His noteworthy involvements in the preceding years include the following works:
- Representing one of the leading Indonesian pharmaceutical companies, as a respondent in SIAC arbitration proceeding relating to a claim brought by a claimant, including a relief of more than USD 4,000,000.
- Counsel to one of the biggest trading Japanese companies in its total IDR 500 billion restructuring and divestment, which include capital reduction and almost IDR 60 billion shares transfer as well as amendment in an existing Joint Operation where the existing joint venture company incorporated together with one of the largest Indonesian conglomerate groups real property leader, is managing a 322 hectares large-scale township of residential and commercial complex in eastern Jakarta.
- Counsel to Mitsubishi Corporation (MC) and its Indonesian subsidiary PT Diamond Development Indonesia (DDI) in their new urban integrated township project with an estimated gross development value (GDV) of IDR 9 trillion (approx. USD 630 million) in SHILA at Sawangan, a 102-hectare township in Depok, West Java, Indonesia. To implement the project, MC and DDI have formed a significant partnership with a leading Indonesian real property developer listed in IDX, PT Pakuan Tbk.
The development project comprises premium landed housing clusters integrated with a range of facilities, such as a golf course, commercial facilities, dining pods, the X-Change, and other supporting innovative public facilities. It is constructed right next to the under-construction circular JORR2 Toll Road, providing the residents with more convenient connectivity to Jakarta, Tangerang, and the Soekarno-Hatta International Airport. This is the second development project between MC and Vasanta Group (following their successful project of the Vasanta Innopark in Bekasi Regency, West Java, in 2019), reflecting the full and continuing commitment of the parties to provide the highest quality landed properties in the best locations.
- Counsel to Mitsubishi UFJ Lease & Finance Company, Limited (MUL), one of the biggest leasing and financing companies in the world, on its Indonesian post-merger report related matter with Hitachi Capital Corporation (HC), a Japan-based company engaged in leasing and financing services business in Japan and overseas. The merger is calculated at USD 2.8 billion and considered as one of the biggest merger deals, which results in the combined company’s annual sales amounting to USD 13.3 billion, assets worth about USD 95 billion, and almost 10,000 employees. The merger places the merged company Mitsubishi HC Capital Inc amongst the top global players in the leasing business, with the focus of business areas covering Japan, Europe, the Americas, Greater China (China and Hong Kong), and Asia and Oceania. Through the merger, MUL and HC aim to build and maximize an ideal and mutual complementary relationship to establish an extensive, comprehensive and highly competitive line-up of businesses, and achieve diversification in their respective portfolios, including business domains and geographical areas.
- counsel to a group of major plantation company as the seller in the US$400 million acquisition of group plantation companies of;
- counsel to one the largest Indonesian coal mining company as the purchaser in the US$120 million acquisition of a coal mining business in Kalimantan;
- counsel to a leading Indonesian real estate company in its various real property transactions & disputes;
- counsel to a private equity as the lender in a refinancing of US$100 million loans;
- counsel in certain shareholder disputes filed with Singapore High Court and various courts in Indonesia; and
- counsel to numerous clients in commercial and construction disputes filed with SIAC.