Debtor Bankrupt Defaults on Peace Proposal? Here’s the Solution!
The Peace Plan or Peace Proposal is a document containing an offer to schedule the payment of debtor debts to creditors in a manner agreed upon beforehand. The peace plan/proposal or peace proposal is accepted if approved at the creditors’ meeting by more than half of the attending concurrent creditors whose rights are recognized or...
Read MoreOSS-RBA Has Been Effective for Three Years, Here Are Things That Businessman Must Pay Attention To!
On August 9, 2021, President Jokowi launched the Risk-Based Business Licensing System, which is more commonly known as OSS-RBA. However, after three years of OSS-RBA implementation, it appears that many business actors still do not fully understand the differences in business licensing between OSS-RBA and the previously applicable OSS 1.1. The first thing that business...
Read MoreCan the Minutes of Shareholders’ Meeting be Cancelled?
In accordance with Article 1 number 2 and number 4 of Law Number 40 of 2007 concerning Limited Liability Companies (“Company Law”), the General Meeting of Shareholders (“GMS”) is one of the Company’s organs that has authority not granted to the Board of Directors or the Board of Commissioners within the limits specified in the...
Read MoreMay the Company hold a General Meeting of Shareholders outside the Company’s domicile?
Law Number 40 of 2007 concerning Limited Liability Companies (“Company Law”) explains that included in the Company’s Organs are the General Meeting of Shareholders, Board of Directors, and Board of Commissioners. The definition of the General Meeting of Shareholders (“GMS”) is stated in Article 1 number 4 of the Company Law, which is an Organ...
Read MoreInheritance in Islam involves complexities when the deceased is Muslim but their spouse and children are of a different faith. Do they have inheritance rights?
The provisions regarding inheritance are regulated in the Compilation of Islamic Law (“KHI”) for heirs who are Muslims, commonly referred to as Islamic Inheritance Law. Meanwhile, for heirs who are non-Muslims, including Indonesian citizens of Chinese or European descent, they follow the inheritance rules in the Civil Code (“KUHPerdata“), customary law, or recognized religions in...
Read MoreHEIRS WISH TO RENOUNCE INHERITANCE, UNDERSTAND THE PROVISIONS AND PROCEDURES!
The provisions regarding inheritance are regulated in the Compilation of Islamic Law (“KHI”) for heirs who are Muslims, commonly known as Islamic Inheritance Law. Meanwhile, for heirs who are non-Muslims, including Indonesian citizens of Chinese or European descent, they follow inheritance rules in the Civil Code (“KUHPerdata”), Customary Law, or recognized religious laws in Indonesia....
Read MoreCan Megawati Soekarnoputri become an Amicus Curiae?
Amicus Curiae is a legal tradition from Roman law and practiced in the Common Law System. The concept of Amicus Curiae is that of a party providing its opinion relevant to the case. Indonesia also adopts Amicus Curiae with legal support under Article 5 paragraph (1) of Law Number 48 of 2009 concerning Judicial Authority:...
Read MoreCOMPENSATION FOR AIR PASSENGERS IN CASE OF FLIGHT DELAY
The frequent occurrence of flight delays in the aviation industry not only causes discomfort for passengers but also has the potential to result in financial losses for them. Therefore, passengers have the right to receive compensation if flights are significantly delayed, and this should be ensured by the airlines. Factors contributing to flight delays include:...
Read MoreUNDERSTANDING THE DIFFERENCES BETWEEN MERGER, CONSOLIDATION, AND ACQUISITION
1. MERGER Merger comes from the word “merger” (Latin) which means: – to merge, together, to unite in combination – causing the loss of identity because something is absorbed or swallowed up The definition of a merger is regulated in Article 1 number 9 of Law No. 40 of 2007 concerning Limited Liability Companies in...
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