Meanly of GMS UnderLaw Number 40 of 2007 on Limited Liability Company (“Company Law“), in Article 1 number 4, General Meeting of Shareholder, hereinafter called the GMS means the Company Organ which has authority that is not given to the Board of Directors or the...
Under Law Number 13 of 2003 on Labor (“Labor Law”), in Article 1 number 14, an employment agreement means an agreement made between an employee and an entrepreneur or an employer which specifies work requirements, rights, and obligations of both parties. From that...
Bankruptcy proceedings settlement process in Indonesia is performed in the Commercial Court ("Court"). This is in accordance with Article 1 paragraph 7 of Law Number 37 of 2004 on Bankruptcy and Postponement of Debt Payment ("Indonesian Bankruptcy Law"), which states...
Committee of Creditors in Bankruptcy Background One of the acknowledged parties in the Indonesia Bankruptcy proceeding is the Committee of Creditors (“Committee of Creditors”). Committee of Creditors is the party who represents the Creditors. Therefore, Committee of...
The definition of Receiver in Law Number 37 of 2004 on Bankruptcy and Postponement of Payment (“Indonesian Bankruptcy Law”) is Heritage Hall (Balai Harta Peninggalan) or an individual appointed by Court to take care and clear bankrupt debtor’s assets under supervision...
The previous article has been discussed about employment agreement for a definite period of time, now this article will discussed about employment agreement for an indefinite period of time. Under Article 1 number 14 of Law Number 13 of 2003 on Labor (“Labor Law”), an...
Under Article 142 paragraph (1) of Law Number 40 of 2007 on Limited Liability Company (“Company Law“), dissolution of the limited liability company shall occur: a. based on a General Meeting of Shareholders’ resolution (“GMS”); b. Because the period of incorporation...
