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Journal : Humaniora

Material Adverse Change: An Alternative Solution to Suspension of the Debt Payment. Suwinto Johan
Humaniora Vol. 11 No. 3 (2020): Humaniora
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/humaniora.v11i3.6606

Abstract

The research aimed to provide alternative solutions with Material Adverse Change (MAC) before reaching the suspension of the debt payment obligation stage. The pandemic situation had caused many companies to experience difficulties in fulfilling their obligations, including payment obligations or debts to suppliers and creditors. If there were circumstances where the company could not fulfill its obligations, then the creditor would be able to collect through debt-restructuring to bankruptcy. The restructuring was carried out through the suspension of the debt payment obligation (Penundaan Kewajiban Pembayaran Utang/PKPU). The research used normative juridical methods. It focused on credit and financing transactions between companies and creditors, both banking or finance companies. The research concludes that before the suspension of a debt payment obligation, companies and creditors should negotiate based on MAC before reaching a lawsuit. In the MAC, there is an explicit clause, and it is agreed by both parties, then the creditor should acknowledge the company’s actual condition. 
Sanctions in Financial Services: Developing a Conducive Culture in Financial Industry in Indonesia Suwinto Johan
Humaniora Vol. 13 No. 1 (2022): Humaniora
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/humaniora.v13i1.7309

Abstract

The research proposed adjustments to sanctions for criminal acts in the financial services industry in accordance with Law No. 21/2011. Based on the Law of the Republic of Indonesia No. 21/2011, the Indonesian Financial Services Authority (FSA) had the authority to regulate the financial industry in Indonesia. FSA had enormous capacity, including the authority to impose criminal sanctions in the financial services industry. However, criminals in the financial sector still recurred after establishing the OJK. One of financial services industry crimes began with Bank Indonesia Liquidity Assistance due to the 1998 Asian crisis, and the crisis due to the COVID-19 pandemic had resulted in several criminal acts in the financial industry such as the Bank Bukopin case and several cases of insurance companies such as Jiwasraya insurance. The research applied a normative juridical method. It concludes that criminal sanctions in the financial services industry can be imposed on individuals and/or corporations. This criminal sanction is imposed if someone deliberately ignores, does not fulfill, or hinders the exercise of the FSA's authority or deliberately ignores and/or does not carry out the FSA's written orders. A person's definition needs to be clarified in his/her position at a financial service institution to be subject to a criminal offense.