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All Journal International Journal of Educational Review, Law And Social Sciences (IJERLAS) Multidiciplinary Output Research for Actual and International Issue (Morfai Journal)
Lenny Mutiara Ambarita
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THE BOARD OF DIRECTORS' RESPONSIBILITY FOR SHAREHOLDER LOSSES IN BUYBACK POLICIES: AN ANALYSIS OF COURT DECISIONS AND CORPORATE PRACTICES Lenny Mutiara Ambarita; Muldri Pudamo James Pasaribu
International Journal of Educational Review, Law And Social Sciences (IJERLAS) Vol. 5 No. 5 (2025): September
Publisher : RADJA PUBLIKA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/ijerlas.v5i5.4023

Abstract

This study aims to analyze the fiduciary duty of directors in buyback policies, the consistency of their application in court decisions, and the effectiveness of OJK supervision in protecting shareholders. The method used is normative legal research with statutory, conceptual, case, and comparative approaches. Primary legal materials include the Company Law (UUPT), the Capital Market Law, the POJK (OJK Regulation), and court decisions; secondary legal materials include academic literature; and tertiary legal materials include legal dictionaries and encyclopedias. The analysis was conducted qualitatively and normatively by examining the consistency between legal norms, doctrine, and judicial practice. The results indicate that a gap remains between norms and practice. Some issuers implement buybacks in accordance with regulations, but others exploit regulatory relaxations to circumvent the GMS mechanism, thereby weakening the position of minority shareholders. Court decisions, such as Supreme Court No. 280 K/Pdt/2012 and Supreme Court No. 2826 K/Pdt/2021, demonstrate inconsistencies in the application of fiduciary duty and the business judgment rule. The phenomenon of nominee directors further strengthens the potential for conflicts of interest in buyback implementation. Meanwhile, OJK supervision is still considered weak because the sanctions imposed have not had a deterrent effect.
FIDUCIARY OBLIGATIONS OF THE BOARD OF DIRECTORS IN MANAGING COMPANY SHARES: A CORPORATE LAW AND CAPITAL MARKET PERSPECTIVE Lenny Mutiara Ambarita
International Journal of Educational Review, Law And Social Sciences (IJERLAS) Vol. 5 No. 4 (2025): July
Publisher : RADJA PUBLIKA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/ijerlas.v5i4.4024

Abstract

Fiduciary duty is a fundamental principle in modern corporate law that requires directors to act in good faith, with due care, and prioritize the interests of the company over personal interests. In the Indonesian context, this obligation has been regulated normatively through Law Number 40 of 2007 concerning Limited Liability Companies and Law Number 8 of 1995 concerning Capital Markets. However, the implementation of fiduciary duty still faces various obstacles, both in terms of legal norms and judicial and capital market practices. This study uses a normative legal method with a statutory, conceptual, and comparative approach. The data used are primary legal materials such as laws, Financial Services Authority regulations, and court decisions, as well as secondary legal materials in the form of literature, scientific journals, and previous research results. The analysis was conducted qualitatively normatively through legal interpretation and construction. The results of the study indicate that although fiduciary duty has a legal basis, its implementation remains weak. From a corporate law perspective, the standards for implementing the duty of care and duty of loyalty remain unclear, making it difficult for minority shareholders to hold directors accountable. In judicial practice, the application of fiduciary duty is often inconsistent due to varying standards of proof. Meanwhile, from a capital market perspective, violations such as insider trading and conflicts of interest involving nominee directors remain rampant, which cannot be fully controlled by the Financial Services Authority (OJK)'s oversight mechanisms.
ANALYSIS OF LEGAL STATUS, LEGAL PROTECTION OF MARKS THAT HAVE BEEN REGISTERED (STUDY OF DECISION NUMBER 03/PDT.SUS-MEREK/2015/PN NIAGA MEDAN) Lenny Mutiara Ambarita; Van Lodewijk Purba; Muhammad Fadly Nasution
International Journal of Educational Review, Law And Social Sciences (IJERLAS) Vol. 2 No. 6 (2022): November
Publisher : RADJA PUBLIKA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/ijerlas.v2i6.712

Abstract

The purpose of this study is to analyze the legal position and legal protection of trademarks that have been registered (Study of Decision Number 03/Pdt.Sus-MEREK/2015/PN Niaga Medan). The type of research used in writing this thesis is normative juridical research. Normative juridical research, "is a research conducted by examining literature or secondary data such as laws and regulations, legal theory, and opinions of leading legal scholars". The data used as material for the analysis of this thesis research is secondary data, namely the data in this study consists of primary legal materials, secondary legal materials and tertiary legal materials. The analysis was carried out by means of qualitative analysis, namely an analysis that uses normative (juridical) aspects through a method that is descriptive in nature, an analysis that describes an overview of the legal materials obtained and links them to one another to obtain a general conclusion. The results of the study show that in a constitutive system, the legal protection of trademark rights is based on the registration of a mark (first to file system). Whoever registers a mark for the first time and is accepted, the applicant has the most right to a mark because registration creates rights to a mark, so that a mark is protected by law, the mark must be registered by the owner. In addition, it is also necessary to pay attention to the reputation of a well-known brand that is obtained due to vigorous and large-scale promotions, investment in several countries in the world made by the owner and accompanied by proof of registration of the mark in several countries. The law in Indonesia does not protect the first mark user, but the law protects the first mark registrant. Mark Registration is a must in order to obtain rights to a mark. Without registration, the state will not grant trademark rights to brand owners.
ANALYSIS OF LEGAL CERTAINTY, LEGAL PROTECTION AGAINST CANCELLATION OF REGISTERED MARKS (STUDY OF DECISION NUMBER 03/PDT.SUS-MEREK/2015/PN NIAGA MEDAN) Lenny Mutiara Ambarita
Multidiciplinary Output Research For Actual and International Issue (MORFAI) Vol. 3 No. 2 (2023): July (July-September)
Publisher : RADJA PUBLIKA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/morfai.v3i2.1118

Abstract

The purpose of this research is to analyze legal certainty and legal protection against cancellation of registered trademarks (Decision Study Number 03/Pdt.Sus-MEREK/2015/PN Niaga Medan). The type of research used in writing this thesis is normative juridical research. Normative juridical research, "is a research conducted by examining literature or secondary data such as laws and regulations, legal theory, and opinions of leading legal scholars". The data used as material for the analysis of this thesis research is secondary data, namely the data in this study consists of primary legal materials, secondary legal materials and tertiary legal materials. The analysis was carried out by means of qualitative analysis, namely an analysis that uses normative (juridical) aspects through a method that is descriptive in nature, an analysis that describes an overview of the legal materials obtained and links them to one another to obtain a general conclusion. The results of the study show that the implementation of trademark registration must be based on the good intentions and honesty of the trademark registrar to register their mark without any hidden intention to hitchhike or knock over other people's marks in order to gain the maximum economic advantage. Good faith in trademark registration includes an understanding in a subjective sense whereby a trademark registrant must have good and honest intentions in his heart to register his mark solely to protect said mark from fraudulent actions by other parties. Thus it can be said that in the case of trademark registration by the trademark registrant, the intention, both subjectively and objectively, must comply with the provisions of the laws and regulations that apply in the field of marks. In order to fulfill the legality of trademark ownership, the trademark registrant must have a trademark certificate, because a trademark certificate is proof that the mark has been registered and also as proof of ownership. By having legality, the brand owner will get legal protection which is a guarantee to process if there is a violation of the mark..
Co-Authors Muhammad Fadly Nasution Muldri Pudamo James Pasaribu Van Lodewijk Purba