Fernandes, Acacio
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Reorienting Investment Dispute Resolution in Indonesia: Towards a Fair and Efficient System Siallagan, Sahat Poltak; Wiwoho, Jamal; Suryono, Arief; Kurniawan, Itok Dwi; Fernandes, Acacio
Journal of Law and Legal Reform Vol. 5 No. 3 (2024): Various Issues on Law Reform in Indonesia and Beyond
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jllr.v5i3.4367

Abstract

In the era of Industry 4.0, the surge in foreign investment and the proliferation of global trade agreements have intensified the need for more reliable dispute resolution mechanisms. While the Investor-State Dispute Settlement (ISDS) system has long been the standard, it faces widespread criticism for its lack of transparency, fairness, and absence of an appellate mechanism. In response, the Investment Court System (ICS) has emerged as a novel alternative, introducing significant reforms such as the appointment of more qualified arbitrators, greater neutrality, enhanced transparency, and, crucially, a structured appeals process that offers stronger legal certainty. Although no disputes have yet been resolved through ICS, raising questions about its efficiency, the system represents a promising advancement in creating a more equitable and trustworthy framework. The appellate mechanism of ICS, in particular, addresses a critical shortcoming of ISDS, where arbitration awards are often challenged in national courts, leading to legal uncertainty. By balancing investor protection with state sovereignty to regulate in the public interest, ICS has the potential to enhance legal clarity, foster public confidence, and create a more stable and inclusive global investment environment.
RESTRUKTURISASI SEMI PUBLIK SEBAGAI PENERAPAN ASAS ITIKAD BAIK DAN ASAS KELANGSUNGAN USAHA DI TENGAH KEPAILITAN PERUSAHAAN GO-PUBLIC DI INDONESIA Kurniawan, Itok; Sialagan, Sahat Poltak; Fernandes, Acacio
Wacana Hukum Vol 30 No 2 (2024): Article in Press
Publisher : Faculty of Law, Universitas Slamet Riyadi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33061/wh.v30i2.11132

Abstract

Various problems related to the effectiveness and efficiency of legal proceedings are still found in the running of insolvency law in Indonesia, such as peace issues. Whereas peace is the key for companies to keep going, including for companies going public. Therefore, might consider new concepts in the Insolvency Law, such as semi-public restructuring. The purpose of this study is to find out the insolvency and PKPU proceedings and their problems in Indonesia and dissect the concept of semi-public restructuring to be a consideration for future legal development. This research uses a normative juridical approach method which is carried out by collecting data and prioritizing legal research as the source. This research shows that semi-public restructuring presents a more flexible restructuring concept so as to strengthen the extension of the principle of good faith and the principle of business continuity