What is a distressed asset? Indonesia has no specific definition or regulations on distressed assets. However, it is practically common to refer distressed assets as assets being sold due to certain issues, such as pre-insolvency or suspension of debt payment obligation – Penundaan Kewajiban Pembayaran Utang (PKPU) or insolvency process, loan security exercise, bad debt/loans, […]

What cases (hypothesis) of piercing the corporate veil are known in your legal system? In Indonesia, the term “piercing the corporate veil” is commonly recognized as Corporate Law Doctrine. This doctrine serves as a basis for the protection of the company from any legal actions and consequences arising from wrongful or unlawful acts of the […]

Indonesia has recently enacted Law No. 4 of 2024 on Welfare of Mothers and Children During the First One Thousand Days of Life (“Law 4/2024”), to become a manifestation of support for working mothers in providing better maternity care in the workplace. For a general overview of Law 4/2024, this article provides our summary of […]

Background: Indonesia recently issued Presidential Regulation No. 14 of 2024 on the Implementation of Carbon Capture and Storage Activity (“CCS”) (“PR 14/2024”), as a part of the central government’s effort to achieve net zero emission target. PR 14/2024 stipulates the technical guidelines for the implementation of CCS activity in Indonesia. Under this regulation, CCS is […]

While Indonesia’s Company Law (Law No. 40 of 2007 as amended by Job Creation Law) and Law No. 1 of 1946 on the Indonesia Criminal Code don’t specifically address corporate crimes, Indonesian regulations do recognize criminal liability for companies under laws such as anti-corruption, manpower, money laundering, personal data protection, and consumer protection. Below is […]

Players of Indonesia’s digital economy have been trying to maintain resilience amidst the challenges of tech winter over the past two years. This situation has set the trend that start-up founders and (both institutional and individual) investors need to depart from ownership in technology companies in Indonesia. Many major players are also seeking to enter […]

In continuation of our Tech Deals series,we provide in this edition the deals concluded in the technology sector between 1 September until 31 December 2023, along with our brief commentary regarding the recent tech deals can be accessed here . Despite the “tech winter” trend that overshadowed the start-up and technology industry in 2023 and […]

In recent years, discussions on the environment, growing social divisions, and climate change have become increasingly important in Indonesia. To address such discussions, one of the initiatives taken by the Indonesian Government to support the economic growth and sustainable development is by issuing the Long-Term Development Plan (Rencana Pembangunan Jangka Panjang or “RPJP”) for the […]

Indonesia is a nation characterized by its archipelagic landscape, which offers huge and diverse fishery potentials. These potentials would become the material parts of the country’s future development. Maximizing utilization of fish resources could uplift the livelihood of small-scale fishermen, improve their productivity, increase the value and competitiveness of fishery products, and ensure the long-term […]