Jakarta. The Jakarta Commercial Court has dismissed a Rp 74.5 billion ($4.5 million) debt settlement lawsuit against luxury property developer Asiana Senopati, the company’s legal team announced.

The lawsuit was filed on August 12 by Muhammad Marzuki, who sold land in South Jakarta’s upscale Senopati area to Asiana. He alleged the company still owed him Rp 74.5 billion from the transaction.

In a ruling dated September 15, the court declared that the lawsuit failed to meet the legal grounds and requirements under Indonesia’s 2004 Bankruptcy and Debt Settlement Law, said Asiana’s attorney Arief Budiman.

“The ruling underscores Asiana Senopati’s healthy and solid financial condition and confirms that the company is able to meet all obligations to its business partners,” Arief said in a statement. He added that the developer remains committed to completing its projects and maintaining the confidence of customers and shareholders.

Welfrid Silalahi, another lawyer representing Asiana, noted that the dispute with Marzuki is far from over, as separate civil and criminal proceedings are still pending.

Asiana has filed lawsuits accusing Marzuki of fraud and embezzlement. “As of now, the civil and criminal cases are continuing,” Welfrid said. “All parties must respect and adhere to the court ruling.”

Last month, Marzuki’s legal team accused Asiana of failing to repay the debt beyond a June 2024 deadline. His attorney, Ruben Jeffry Siregar, claimed that a settlement had been reached under an order from the South Jakarta District Court, but argued that Asiana could not make full payment.

The unpaid debts prompted Marzuki to file a case against Asiana with the commercial court, Ruben said.