Adin Pramudito Nugroho
Faculty of Law, University of Indonesia, Indonesia

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Fair Value Determination for Minority Shareholder Appraisal Rights: Comparative Indonesia and Singapore Adin Pramudito Nugroho
Nusantara: Journal of Law and Islamic Law Vol. 2 No. 1 (2026): Nusantara: Journal of Law and Islamic Law
Publisher : Yayasan Cerdas Pedia Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65101/nusantara.v2i1.325

Abstract

Indonesian corporate law formally recognizes minority shareholder appraisal rights but lacks methodological parameters for fair value determination, rendering statutory protections completely ineffective against majority shareholder oppression. This study conducts normative legal research utilizing statutory, conceptual, and comparative approaches to effectively contrast Indonesian regulations with Singaporean jurisprudence and global corporate valuation standards. Results reveal that Singapore proactively replaces statutory appraisal rights with comprehensive oppression remedies, empowering courts to strictly enforce commercial fairness via mandatory buyouts that absolutely prohibit minority discounts. In stark contrast, Indonesia's existing normative void systemically facilitates structural asymmetry and massive wealth appropriation. To fix this legal vacuum, Indonesia must rapidly reconstruct its corporate litigation framework by statutorily adopting established commercial fairness doctrines. Legislators must explicitly mandate binding judicial guidelines requiring independent financial valuers and formally abolish all minority discount applications. This vital systemic integration will successfully elevate domestic corporate governance toward superior global dispute resolution quality and justice.
Mitigating Indirect Expropriation in FDI: The Legal Efficacy of Home State Measures Adin Pramudito Nugroho
Journal of State Public Policy Vol. 1 No. 3 (2026): Journal of State Public Policy
Publisher : Yayasan Cerdas Pedia Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65101/jspp.v1i3.365

Abstract

The normative conflict between indirect expropriation claims and sovereign regulatory rights creates a systemic regulatory chill within contemporary international investment law. Traditional host state defenses, including explicit treaty carve-outs, remain epistemologically inadequate against expansive arbitral interpretations. Applying a doctrinal legal methodology, this study systematically analyzes new-generation investment treaties, arbitral jurisprudence, and institutional frameworks to evaluate the legal efficacy of Home State Measures (HSM) as a preventive mitigation mechanism. The research clearly demonstrates that operationalizing HSM through conditional political risk insurance and extraterritorial sustainability reporting mandates effectively nullifies static investor expectations. Furthermore, integrating pre-litigation dispute prevention mechanisms, specifically utilizing the Ombudsman model and Cooperation and Facilitation Investment Agreements, successfully transforms reactive commercial arbitration into proactive diplomatic mediation. This paradigmatic institutional shift significantly prevents frivolous litigation, strictly corrects fundamental structural asymmetries inherent in capital exportation, and conclusively safeguards the host state's ecological and essential public policy space from predatory foreign corporate claims.