Pursuant to a musyarakah financing agreement, the plaintiff (bank) and defendants (customers) pooled IDR 20 million and IDR 18.8 million respectively, to fund a coconut and brown sugar enterprise. The term of the agreement was 36 months, from 17 April 2007-17 April 2010. The plaintiff submitted that the defendants went into arrears, causing the plaintiff to serve the defendants with several written warnings. Upon conducting an inspection of the defendants’ …
Despite being summonsed to attend the proceeding, the defendants were absent. In their absence, the court declared the agreement valid, and ordered the defendants to pay to the plaintiff IDR 53,732,715 in material damages, as well as court costs (IDR 1,401,000).