Posts by adminbpl
THE BANKRUPTCY PETITION AGAINST THE INSURANCE COMPANY MUST BE FILED BY THE FINANCIAL SERVICES AUTHORITY (OJK)
The Insurance company does not have an authority to submit a bankruptcy petition even when the business license has been revoked. The petition can only be filed by the Financial Services Authority (OJK) A Bankruptcy petition against the insurance company has already accepted in Indonesia since the establishment of the Commercial Court in Indonesia. The…
Read MoreHERE ARE TWO ALTERNATIVES EXECUTION OF PLEDGING OF SHARES
Before stepping on the practice of execution of pledge of shares, we should understand in advance the definition of lien and the stock itself. According to Article 1150 of the Civil Code, Pledge is “a right that is acquired by a creditor against to moving goods, bodied and bodiless given to him by the debtor…
Read More4 TYPES OF INDUSTRIAL RELATIONS DISPUTES YOU SHOULD KNOW
As a matter of fact, there are restrictions against industrial relations disputes. Not all things can be put under disputes. For example, mutation is the rights of the company. Employees who have an objection and are absent from their duty for more than 5 days may be considered to have resigned. Do not let the…
Read More10 REASONS CAN LEAD TO THE TERMINATION OF YOUR AGREEMENT
Any agreement made legitimately by the parties is basically valid as law for those who are bound by it. It is a basic principle of contract law, unless at a later time, after the agreement has been signed, some facts that affect the validity of the agreement occur. An agreement cannot be withdrawn or canceled,…
Read MoreHOW TO APPLY FOR ANNULMENT OF ARBITRATION AWARD
Annulment of the arbitration award as stipulated in Law No. 30 of 1999 on Arbitration and Alternative Dispute Resolution (“Arbitration Law“) is possible to be proposed by one of the parties of the case. Any party who would like to cancel the arbitration award, must submit the application before the district court. Although there is…
Read MoreDefinition of cartel, the Business Competition Supervisory Commission (KPPU) and Unfair Competition
Judging from cartel cases in Indonesia, it is important to understand the definition of cartel itself. Cartel practices are also mentioned in Article 11 of Law No. 5 of 1999 on Monopolistic Practices and Unfair Business Competition (Law No. 5/1999). It states: “Business Entity are prohibited from making agreements with rival businesses, which intends to…
Read MoreLET’S GETTING TO KNOW MORE ABOUT DORMANT COMPANY
Naturally, business aims for profit which is easily described by accounting transactions. What if a company has no accounting transactions? In the business world, this situation is called ‘dormant’. Referring to www.businessdictionary.com, dormant is a status of company/firm which for a prolonged period has no significant financial transaction. So, the term dormant can be simplify…
Read MoreHOW TO DETERMINE THE BEST DISPUTE RESOLUTION FORUM IN THE AGREEMENT
It is known that the principle of freedom of contract (pacta sunt servada) in an agreement is stated in Article 1338 Book of Indonesian Civil Code. So, the parties that have agreed upon an agreement are free to decide matters related to the deal, as long as they are not contrary to law, norms that…
Read MoreARE TORT CASES ABLE TO BE SOLVED THROUGH ARBITRATION ?
Basically, Law No. 30 of 1999 on Arbitration and Alternative Dispute Resolution (“Arbitration Law”) does not provide the limitation of the only tort cases that can be resolved through arbitration. So, in the event of a tort committed by one of the parties which were bound by a treaty binding, the dispute can certainly be…
Read MoreSolve your land disputes through mediation mechanism!
“Mediation in the local land office is a way of dispute resolution that can be done before deciding to bring the existing problems to the court.” Settlement of the cases related to civil disputes, is generally pursued through the courts. The process is certainly time-consuming and costly. Actually, there is another settlement path which is…
Read More