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Posts Tagged ‘bankruptcy’

CAN RECONCILIATION BE DONE AFTER THE DEBTOR IS DECLARED BANKRUPT?

can-reconciliation-be-done-after-the-debtor-is-declared-bankrupt

Debtor may offer reconciliation if the majority creditor does not agree with the bankruptcy decision against the debtor due to not being asked for approval nor summoning the majority creditor. After declared bankrupt by the Commercial Court’s decision, Debtor still has the right to offer reconciliation. This right is stipulated under Article 144 of Law…

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THREE KEY ROLES OF LAWYER IN CORPORATE LIQUIDATION

Naturally, business contains risk, either positive or negative. It would be positive risk if the company gains a lot of benefits. In contrary, it would be negative risk if the company goes bankrupt so that the company must be liquidated. Related to company liquidation process, there are 3 (three) key roles of lawyer that you…

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GUIDELINES TO LIQUIDATE COMPANY IN INDONESIA

Pursuant to Company Law, the Company shall be dissolved by several matters and one of which is liquidation according to shareholder’s decision in General Meeting of Shareholders. The Board of Directors (“BOD”), Board of Commissioners (“BOC”) or one or more shareholders representing at least 1/10 of the total shares with voting rights could propose liquidation…

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Important Note Related to ActioPauliana in Bankruptcy Cases

“The basis of Actiopauliana lawsuit is creditor damages.” In various bankruptcy cases can be found the existence of legal action by the creditors to nullify the debtor’s transactions, which is considered causing damage to the creditors. This action is known as actiopauliana. Furthermore, there are three conditions in actiopauliana, which are: There is legal action…

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