The COVID-19 global pandemic has had adverse effects on businesses, including the forcing of some companies to declare bankruptcy. To shine light on the process of declaring bankruptcy in Indonesia, EKONID hosted an online legal roundtable with its partner Lubis Santosa Maramis Law Firm.
On November 19, 2020, EKONID hosted an online legal roundtable on Bankruptcy. This is a relevant topic in times of COVID-19, during which companies should prepare for the worst from the economic impact of the pandemic.
The speaker in this online roundtable was Mr. Doly James Simangunsong, an associate at Lubis Santosa Maramis Law Firm. Mr. Simangunsong introduced the key regulations that companies should understand when declaring bankruptcy, particularly Law No. 37/2004 on Bankruptcy and Moratorium on Payment, as well as the Indonesia Civil Code. Also important in this topic is Law No. 40/2007 regarding companies, Law No. 13/2003 regarding Manpower, and Law No. 6/1983 regarding the general provisions and procedures on taxes.
It is hoped that the roundtable has given participants an understanding on the aspects that must be considered before and after declaring bankruptcy as well as the relevant legal procedures that must be followed. EKONID thanks the participants as well as all the stakeholders that have helped made this event a success.