AN OVERVIEW OF THE DISSOLUTION OF LIMITED LIABILITY COMPANIES UNDER INDONESIAN CORPORATE LAW
Keywords:
Limited Liability Company, Corporate Dissolution, Liquidation, Legal Certainty, Stakeholder Protection, Corporate Governance.Abstract
The dissolution of a Limited Liability Company (Perseroan Terbatas/PT) constitutes a complex legal process that extends beyond the termination of the company's legal entity status. It involves a series of legal consequences, particularly liquidation, settlement of corporate obligations, protection of creditors, shareholders, employees, consumers, and other stakeholders. This study aims to analyze the legal framework governing the dissolution of Limited Liability Companies under Indonesian corporate law, examine the mechanisms and legal consequences of liquidation, and identify legal issues affecting legal certainty and stakeholder protection. This research employs a normative-juridical method by examining Law Number 40 of 2007 concerning Limited Liability Companies and its subsequent amendments, supported by relevant legal literature, scholarly opinions, and academic journal sources. The analysis indicates that the Indonesian legal framework provides a relatively comprehensive structure for corporate dissolution, including the grounds for dissolution, the continuation of the company's legal existence for liquidation purposes, and the authority and responsibilities of liquidators in settling corporate assets and obligations. However, implementation continues to face challenges, including delays in the settlement of corporate obligations, insufficient transparency in liquidation processes, weak supervision of liquidators, and potential conflicts of interest among stakeholders. These conditions demonstrate a gap between normative legal provisions (das sollen) and their implementation in practice (das sein), particularly in relation to creditor protection and minority shareholder interests. The study concludes that strengthening liquidation oversight, improving transparency and accountability, consistently implementing good corporate governance principles, and harmonizing relevant regulations are necessary to ensure that the dissolution of Limited Liability Companies is not only legally valid but also substantively fair and capable of providing sustainable legal certainty for all stakeholders.
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