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All Journal Al-Mustashfa Ius Civile: Refleksi Penegakan Hukum dan Keadilan Jurnal Esensi Hukum MUAMALATUNA Jurnal Pengabdian kepada Masyarakat Nusantara JURPIKAT (Jurnal Pengabdian Kepada Masyarakat) Strata Law Review Media Hukum Indonesia (MHI) Amandemen: Jurnal Ilmu Pertahanan, Politik dan Hukum Indonesia aktivisme: Jurnal Ilmu Pendidikan, Politik dan Sosial Indonesia Desentralisasi: Jurnal Hukum, Kebijakan Publik, Dan Pemerintahan Mahkamah: Jurnal Riset Ilmu Hukum Journal of Sharia Tourism and Hospitality
Ema Nurkhaerani
Unknown Affiliation
Computer Science & IT Decision Sciences, Operations Research & Management Dentistry Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Public Health Social Sciences Other

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Perlindungan Hukum Bagi Investor Pada Perusahaan Dalam Kasus PT. Apa Tobacco Nusantara Menurut Hukum Kepailitan (Legal Protection For Investors In The Company In The Case Of Pt. Apa Tobacco Nusantara According To Bankruptcy Law) Aulia, Fara; Nurkhaerani, Ema
Media Hukum Indonesia (MHI) Vol 3, No 3 (2025): September
Publisher : Penerbit Yayasan Daarul Huda Kruengmane

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This research discusses legal protection for investors in the bankruptcy case of PT Apa Tobacco Nusantara based on the perspective of bankruptcy law in Indonesia. Legal protection for investors is divided into two main forms, namely preventive and repressive, which aim to provide a sense of security, certainty, justice, and restoration of investor rights when a violation or dispute occurs. This study uses a descriptive analysis method with a qualitative approach, aiming to describe in depth the characteristics of the bankruptcy phenomenon and the legal protection applied. The results showed that in the bankruptcy process of PT Apa Tobacco Nusantara, all creditors' rights, including investors who have receivables, are strictly regulated under the Bankruptcy Law and the Postponement of Debt Payment Obligations (UUKPKPU). Bondholder investors have protection as creditors and get payment rights in order of priority, while shareholder investors are in the last position in the distribution of remaining assets after all obligations to other creditors are paid. The Financial Services Authority (OJK) plays an important role in the supervision and protection of investors in the capital market, although the risk of loss remains inherent due to the limitations of the bankruptcy mechanism. This research confirms that the bankruptcy process is complex and requires transparency, judge supervision, and information disclosure so that all investor rights can be optimally protected in accordance with applicable legal provisions.
Penentuan Keadaan Insolvensi terhadap Proses Kepailitan dalam Undang-Undang Nomor 37 Tahun 2004 Tentang Kepailitan dan Penundaan Kewajiban Pembayaran Utang Shelomita Putri Amelia; Ema Nurkhaerani
Mahkamah : Jurnal Riset Ilmu Hukum Vol. 2 No. 3 (2025): Juli : Mahkamah : Jurnal Riset Ilmu Hukum
Publisher : Asosiasi Peneliti dan Pengajar Ilmu Hukum Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62383/mahkamah.v2i3.683

Abstract

Bankruptcy regulations in Indonesia, particularly in Law No. 37 of 2004 on Bankruptcy and Suspension of Debt Payment Obligations, are often contentious due to the absence of strict limitations on the filing of bankruptcy petitions. This has the potential to ensnare debtors who are still financially solvent, overriding the principle that bankruptcy should be the last resort in debt settlement. Law Number 37 Year 2004 on Bankruptcy and Suspension of Debt Payment Obligations only requires the existence of two creditors with debts that are due and collectible through simple proof. This study aims to analyze in depth the legal arrangements and determination of insolvency in Law Number 37 of 2004. By using a normative juridical research method, as well as a statute approach that focuses on Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations and other related regulations, secondary data will be collected through literature studies. Insolvency is defined as a condition where the debtor's total debt to all creditors exceeds the value of all its assets, otherwise known as a state of inability to pay. In Law No. 37 of 2004 on Bankruptcy and Suspension of Debt Payment Obligations, the term "insolvency" differs from commonly used terms, such as balance sheet insolvency, which means debts exceeding assets, or cash flow insolvency, which means the inability to pay debts due to liquidity. Unlike the practice in the common law system, the determination of insolvency in Indonesia does not involve mandatory financial audits or court decisions based on independent financial analysis.
PERUM DANAREKSA SEBAGAI HOLDING BUMN TERHADAP PENGELOLAAN ASET NEGARA DALAM PRESPEKTIF HUKUM BISNIS SYARIAH Nurkhaerani, Ema; Effida, Dara Quthni
Ius Civile: Refleksi Penegakan Hukum dan Keadilan Vol 9, No 2 (2025): Oktober
Publisher : Prodi Ilmu Hukum, Universitas Teuku Umar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35308/jic.v9i2.13389

Abstract

The transformation of BUMN is an important part of national development that is oriented towards the welfare of the people. Perum Danareksa was appointed as the holding company in the financial sector through Government Regulation Number 113 of 2021. This transformation is strengthened by Law Number 1 of 2025 concerning SOEs which adopts the principle  of business judgment rule. The Holding structure is expected to be able to create efficiency, synergy, and increase the competitiveness of state corporations. However, when viewed from the perspective of sharia business law, BUMN governance is not enough to only emphasize profits, but also must fulfill the principles of justice (al-'adl), trust, usefulness (maslahah), and avoid the practice of riba, gharar, and maysir. This research uses a normative juridical approach with a legal and conceptual approach. The results of the study show that Danareksa's holding model is legally positive and benefits the efficiency of state assets. However, part of the portfolio is still placed in conventional interest-bearing instruments, which in sharia it is considered problematic. This poses a challenge so that the management of state assets is in line with Islamic values that emphasize justice and benefits. By strengthening  the Sharia Governance framework, increasing transparency, and expanding sharia instruments such as sukuk and sharia mutual funds, Danareksa has the potential to become a model of BUMN governance that is not only modern, but also ethical and in accordance with Islamic principles.
Analysis of the Interpretation of Article XI GATT in the Case Study of Indonesia’s Nickel Ore Export Ban, WTO Case No. DS592 Talitha, Raisyha; Nurkhaerani, Ema
Media Hukum Indonesia (MHI) Vol 4, No 1 (2026): March
Publisher : Penerbit Yayasan Daarul Huda Kruengmane

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.17847656

Abstract

This study analyzes the interpretation of GATT 1994 Article XI by the WTO Panel in the DS592 dispute (Indonesia—Measures Relating to Raw Materials) concerning Indonesia's nickel ore export ban. This policy is deemed to violate the fundamental principle of GATT Article XI:1 on the absolute prohibition of quantitative restrictions. The research utilizes a normative legal research method with case and statutory approaches. The conclusion shows that the WTO Panel factually determined the export ban violates GATT Article XI:1. The Panel rejected all of Indonesia's justification arguments (Article XI:2(a) and Article XX(d)) due to a strict interpretation and Indonesia’s failure to prove the absolute ban was a "necessary measure." The legal implication is that Indonesia must reformulate its downstreaming policy from export bans to WTO-allowed instruments, such as progressive export taxes, to mitigate the risk of future trade sanctions.
Perlindungan Hak Pengguna dalam Praktik Pengolahan Data oleh Platform TikTok sebagai Penyelenggara Sistem Elektronik Privat: Analisis dalam Perspektif Hukum Teknologi Informasi A, Amelia; Nurkhaerani, Ema
Media Hukum Indonesia (MHI) Vol 4, No 1 (2026): March
Publisher : Penerbit Yayasan Daarul Huda Kruengmane

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.17866096

Abstract

The development of the TikTok platform as a private Electronic System Operator (PSE) with 157.6 million Indonesian users has triggered a massive increase in the processing of personal data. This study analyzes the forms of protection of TikTok users' rights based on Law Number 11 of 2008 concerning Electronic Information and Transactions (amended by Law Number 1 of 2024), Law Number 27 of 2022 concerning Personal Data Protection, and Government Regulation Number 71 of 2019 concerning the Implementation of Electronic Systems and Transactions, as well as legal sanctions for violations of data transparency and accountability. This study uses a normative juridical method, and the results show comprehensive protection through the rights of access, correction, data deletion, and age verification for children, supported by gradual sanctions ranging from administrative to criminal imprisonment and fines of billions of rupiah. The precedent of TikTok's TDPSE suspension by Komdigi in October 2025 proves effective enforcement. The study recommends strengthening audits, independent supervisory agencies, and data localization for large PSEs to reinforce Indonesia's digital sovereignty.
Co-Authors A, Amelia Afif Muamar Ahmad Iqbal Ali Imran Nasution Aulia, Fara Ayati, Nufasilul Dita Rosalia Arini Dwi Najah Tsirwiyati Edy Setyawan Elirica Aliyah Irwan Bauw Faqih Zuhdi Rahman Hafizd, Jefik Harahap, Viviyen Jensifa Inayah, Iin Iqbal, Ahmad Irsyaf Marsal Marsal, Irsyaf Nandito, Moh. Quthni Effida, Dara Rakhmi, Wendy Budiati Shelomita Putri Amelia Shevanna Putri Cantiqa Slamet Tri Wahyudi Sukardi, Didi Tabitha Fransisca Romauli Nababan Talitha, Raisyha Winriadirahman, Prameswara