Posts Tagged ‘Curator’
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…
Read MoreBoard of Commissioners (BOC) Cannot be Completely OffHand in A Company Bankruptcy
The accountability of “BOC as the supervisor in a company, should be requested when a company is declared bankrupt.” The role and the main task of the board of commissioners in a company (Limited Liability Company) is carrying out general supervision over the policy and management of the company as well as providing advice to…
Read MoreTHE 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The Insurance company does not have an authority to submit a bankruptcy petition even when the business license has been revoked.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 MoreTHREE 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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