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Ary Zulfikar

Tel: +62 21 806 82750
Email: ary@azp.co.id


Key practice areas

Capital market (debt & equity); banking & finance; infrastructure & energy; restructuring, insolvency & asset resolution; litigation & dispute resolution


Ary Zulfikar is the founder partner of Ary Zulfikar & Partners, which is also known as AZP Legal Consultants. He has more than 25 years of experience in the field of law and has handled both domestic and international transactions with diverse expertise in the corporate and litigation practices. He started his career at Kartini Muljadi & Rekan, where he handled many capital markets transactions and corporate actions. His experience in the capital market industry expanded as he joined Kliring Depositori Efek Indonesia, and then Kustodian Sentral Efek Indonesia (self-regulatory organizations in Indonesian capital markets) as legal and compliance department head.

During the Indonesian financial crisis, in 1997-1998, he later joined the Indonesian Bank Restructuring Agency, where he handled numerous corporate restructuring transactions and settlement of shareholders’ obligations under the bank restructuring programme. He was also involved in the establishment of the Indonesia Deposit Insurance Corporation (Lembaga Penjamin Simpanan/LPS) as a team member appointed by the Ministry of Finance of the Republic of Indonesia from 2002-2004.

In 2004, he founded and became the managing partner of AZP Legal Consultants, specializing in capital markets, banking and finance, infrastructure and energy, restructuring, insolvency and asset resolution, as well as litigation and dispute resolution practice areas. In February 2020, he stepped off as the managing partner of AZP Legal Consultants, and is currently serving as the executive director of the legal division of LPS, focusing on the deposit insurance and resolution programme for Indonesian banks. In his busy schedule, he still manages to lecture at the Faculty of Law in Universitas Trisakti and Universitas Pancasila.

Ary Zulfikar graduated from Universitas Padjajaran with a Bachelor’s degree in law in 1994. He continued to pursue his study and obtained his Master’s degree in law from Universitas Gadjah Mada in 2015. He then obtained his doctorate degree (cum laude) from Universitas Padjajaran with his dissertation title: Foreign Direct Investment Restriction Policy as a Control of Inward Foreign Direct Investment in Accordance with Sustainable Development Principles, in 2019.