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Legal Protection for Capital Market Investors If the obligation to pay interest and principal on bonds is not fulfilled Arifardhani, Yoyo; Selian, Stella Sadeva
Pena Justisia: Media Komunikasi dan Kajian Hukum Vol. 23 No. 1 (2024): Pena Justisia
Publisher : Faculty of Law, Universitas Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31941/pj.v23i3.4977

Abstract

The Indonesian capital market is growing rapidly and plays a role in national development. Important principles include managing value-added activities, system development, and placing reliable personnel to create Good Corporate Governance (GCG). According to Law no. 8 of 1995, the capital market includes public offerings, securities trading and securities-related public companies. The capital market trades capital and debt instruments. Bonds are long-term debt securities with the risk of the company's inability to fulfill its obligations. This research reviews legal protection for capital market investors in handling bond payment obligations. The aim of this research is to determine the role of legal protection from the Capital Market Regulator in imposing sanctions on public companies that are negligent in fulfilling their obligation to pay interest and/or principal on bonds, and to find out how to ensure investors are safe in purchasing bonds. The research results show that capital market regulators such as the Trustee, OJK, and BEI have a crucial role in supervising and protecting bond holders from pre-registration to post-issuance. Actions include trusteeship contracts, sanctions, and suspension of bond issuers. And in-depth knowledge of bonds and the factors that influence their security will help investors in choosing bonds that suit the investor's risk profile and investment objectives.
Legal Protection in the Oil Palm Plasma Plantation Partnership Agreement Between Limited Liability Company and Plasma Cooperative Magdalena, Theresia; Yoyo Arifardhani; Edi Tarsono
Jurnal Ilmu Hukum Kyadiren Vol 8 No 1 (2026): Jurnal Ilmu Hukum Kyadiren
Publisher : PPPM, Sekolah Tinggi Ilmu Hukum (STIH) Biak-Papua

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46924/jihk.v8i1.440

Abstract

The palm oil plasma core partnership agreement between plantation companies and plasma farmer cooperatives basically aims to realize a fair and balanced cooperative relationship. But in practice, agreements are often drafted unilaterally by companies and cooperative involvement tends to be formal. In addition, the non-transparent and unaccountable management of cooperatives causes the management to fail to represent the interests of plasma farmers, especially in financial management and distribution of plantation products. This condition puts plasma farmers in a weak position and vulnerable to losses. This research uses normative juridical methods with laws and regulations, conceptual, and case study approaches. The results of the study show that the weak implementation of the principles of cooperative agreements and governance has the potential to cause legal, economic, and social losses for plasma farmers. Therefore, it is necessary to strengthen the application of the principles of the agreement, improve the professionalism of cooperative management, and optimize the role of notaries to ensure balance and legal protection in plasma core partnership agreements
Legal Protection for Directors Against Allegations of Directors' Negligence Resulting in Losses to the Company Yoyo Arifardhani; Ibnu Masúd
Journal of Law, Politic and Humanities Vol. 6 No. 3 (2026): (JLPH) Journal of Law, Politic and Humanities
Publisher : Dinasti Research

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/jlph.v6i3.3137

Abstract

This study aims to analyze legal protection for directors against allegations of negligence resulting in losses for the company in the Indonesian legal system. The method used is normative legal research with a statutory approach and case studies through a comparative analysis of two court decisions, namely the Bekasi District Court Decision Number 647/Pdt.G/2021/PN Bks and the Surabaya District Court Decision Number 565/Pdt.G/2024/PN Surabaya. The results of the study indicate that the civil liability of directors is based on proof of the element of error or negligence, not solely on the occurrence of losses for the company. The Business Judgment Rule principle adopted through Article 97 paragraph (5) of Law Number 40 of 2007 concerning Limited Liability Companies provides conditional protection to directors who act in good faith, with professional prudence, and within the limits of legitimate formal authority. This study emphasizes the importance of a clear distinction between reasonable business risks and directors' negligence as a basis for determining legal liability proportionally and fairly.
Tax Risk Management in Corporate Mergers: A Normative Assessment of Legal Certainty and Anti-Avoidance Risks in Indonesian Tax Law Yoyo Arifardhani; Theresia Magdalena
JUSTITIA JURNAL HUKUM Vol 10 No 1 (2026): Justitia jurnal Hukum
Publisher : Universitas Muhammadiyah Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/justitia.v10i1.30197

Abstract

Corporate mergers as a strategy for business expansion generate complex tax implications, particularly regarding the transfer of assets and liabilities and changes in corporate organizational structures that may affect the tax base. In Indonesia, although various tax regulations governing merger transactions have been enacted, legal uncertainty persists and creates significant tax risks if such transactions are not carefully structured. These risks may arise in relation to income tax, value-added tax, and land and building acquisition duties, potentially increasing the tax burden and triggering disputes with tax authorities. This study aims to analyze the legal and regulatory framework governing corporate merger taxation in Indonesia, identify potential tax risks embedded in the regulatory structure and transactional practices, and determine effective strategies for mitigating such risks. This research employs a normative juridical method using statutory, conceptual, and comparative approaches. The analysis examines key Indonesian tax regulations, including the Income Tax Law, the Value Added Tax Law, and regulatory provisions governing corporate restructuring, supported by relevant academic literature and legal materials. The findings indicate that tax risks in merger transactions can be mitigated through the strategic use of specific legal instruments within the Indonesian tax framework. In particular, the application of tax-neutral merger provisions, the utilization of restructuring tax facilities, and the implementation of comprehensive tax due diligence prior to the transaction are identified as the most effective mitigation strategies. These mechanisms help ensure regulatory compliance while minimizing potential tax disputes. However, interpretative gaps and enforcement inconsistencies in anti-avoidance provisions continue to generate legal uncertainty, highlighting the need for clearer regulatory guidance to strengthen legal certainty in corporate merger taxation.
The Role of Law in AI-Based Business Ecosystems: A Contextualized Perspective from Islamic Law Yoyo Arifardhani; Nur Hidayah Che Ahmat; Moh Mukri
Jurnal Ilmiah Mizani: Wacana Hukum, Ekonomi Dan Keagamaan Vol 12, No 1 (2025): April
Publisher : Faculty of Sharia (Islamic Law) at Fatmawati Sukarno State Islamic University Bengkulu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29300/mzn.v12i1.6961

Abstract

The rapid development of Artificial Intelligence (AI) has introduced complex legal challenges, particularly regarding regulation and compliance. This study examines the adequacy of Indonesia’s current legal framework in overseeing AI-based businesses and proposes an adaptive regulatory model informed by Islamic law. Using normative legal research and a qualitative approach, the study analyzes Indonesian legislation, Shariah legal principles, fatwās, academic literature, and comparative international regulations. Key regulatory gaps are identified in areas such as AI-based decision-making liability, algorithmic transparency, and data protection. These gaps are critically assessed through the lens of Maqāṣid al-Sharīʿah, including ḥifẓ al-ʿaql (protection of intellect), ḥifẓ al-māl (protection of wealth), and ḥifẓ al-nasl (protection of lineage and privacy), ensuring ethical alignment with Islamic values. To address these challenges, the research proposes a hybrid regulatory model combining principle-based and rule-based approaches, reinforced by risk-based standardization, certification schemes, and regulatory sandboxes. The “principle plus sandbox” model merges Shariah-based ethical norms with statutory regulation to support innovation while safeguarding public interest. Key contributions include: mapping Islamic legal objectives onto AI governance, designing a Shariah-compliant dispute resolution framework for AI-related business issues, and recommending the formation of a Shariah-informed AI regulatory authority in Indonesia. The study concludes that a balanced, adaptive legal framework—grounded in both legal certainty and Islamic ethical values—is essential for regulating AI in business contexts. This research contributes to developing more responsive, culturally rooted legal systems for AI governance in Muslim-majority countries