BE CAREFUL WHEN GIVING TESTIMONY IN COURT, PROVIDING FALSE TESTIMONY CAN SUBJECT YOU TO THE INDONESIAN PENAL CODE!
False testimony in court is given under oath according to one’s religion, in which the testimony is given truthfully and nothing but the truth as one of the pieces of evidence used by the judge to examine and adjudicate a case. If a witness gives false testimony in court, they may be subject to criminal...
Read MoreThings Debtors Should Know When the Bank Conducts Foreclosure (AYDA)
Based on Article 1 number 15 of Bank Indonesia Regulation Number 14/15/PBI/2012 concerning Asset Quality Assessment for Commercial Banks, Foreclosure (“AYDA”) is defined as assets acquired by the Bank, either through auction or outside of auction based on voluntary surrender by the owner of the collateral or based on the authority to sell outside of...
Read MoreIF THERE’S A FAKE SOCIAL MEDIA ACCOUNT USING YOUR IDENTITY, WHAT ARE THE LEGAL IMPLICATIONS?
The creation of a fake social media account using another person’s identity, without their knowledge or consent, can be legally problematic. This falls within the purview of electronic information, as defined in Article 1, Paragraph 1 of Law Number 11 of 2008 concerning Electronic Information and Transactions, as last amended by Law Number 1 of...
Read MoreWhen a Company Declared Bankrupt? Here’s the Process and Its Impact!
Based on Article 1 number 1 of Law Number 37 of 2004 concerning Bankruptcy and Postponement of Debt Payment Obligations (“UU K-PKPU”), bankruptcy is a general seizure of all the assets of a bankrupt debtor whose administration and settlement are conducted by a curator under the supervision of a supervisory judge. To file for bankruptcy,...
Read MorePROVISIONS FOR THE REPLACEMENT OF BOARD MEMBERS IN A CLOSED LIMITED LIABILITY COMPANY (PT)
The definition of the Board of Directors is stated in Article 1 number 5 of Law No. 40 of 2007 concerning Limited Liability Companies (“Company Law”), which essentially states that the Board of Directors is the corporate organ authorized and fully responsible for managing the Company for the benefit of the Company, in accordance...
Read MoreYour Interests Are Harmed by State Administrative Decisions? Here’s the Legal Steps!
Referring to Article 53 paragraph (1) of Law Number 5 of 1986 concerning State Administrative Court as amended several times, lastly by Law Number 51 of 2009 concerning the Second Amendment to Law Number 5 of 1986 concerning State Administrative Court (“Law on State Administrative Court”) which states: “Individuals or legal entities who feel their...
Read MoreIs the Curator Negligent in Carrying Out His Duties? Or Does It Cause Losses? Here is the Curator’s Accountability for the Losses Incurred
The Curator, also known as the Estate Bureau of an individual, is appointed by the Court to manage and settle the assets of a Bankrupt Debtor under the supervision of a Supervisory Judge in accordance with the Bankruptcy Law. The Curator plays a role in the bankruptcy process, with the general task of managing and/or...
Read MoreDebtor 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...
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