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All Journal Nusantara: Journal Law and Islamic Law
Muhammad Abduh
Universitas Pembangunan Nasional “Veteran” Jakarta
Religion Humanities Law, Crime, Criminology & Criminal Justice Social Sciences

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The Policy on Appointing Former Directors of Bankrupt Companies as Directors of State-Owned Enterprises Viewed from the Principles of Good Corporate Governance Muhammad Abduh; Atik Winanti; Irwan Triadi
Nusantara: Journal of Law and Islamic Law Vol. 1 No. 2 (2026): Nusantara: Journal of Law and Islamic Law
Publisher : Yayasan Cerdas Pedia Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65101/nusantara.v1i2.196

Abstract

This research analyzes the legal policy and validity of appointing former directors of bankrupt companies to the boards of State-Owned Enterprises (SOEs) under the principles of Good Corporate Governance (GCG). Utilizing a normative legal research method with statutory and case study approaches, the study specifically examines the appointment of Sigit Winarto as Director of PT JIEP following the bankruptcy of PT Istaka Karya. The findings demonstrate that such an appointment explicitly violates Article 93 of the Company Law in conjunction with Article 15 of the SOE Law, as it transpired within the mandatory five-year prohibition period without valid judicial rehabilitation. Consequently, the appointment is void ab initio due to substantive legal defects and contravenes the GCG principles of responsibility and accountability. Therefore, rigorous enforcement of administrative sanctions against the appointing authorities is imperative to safeguard the integrity of state asset management and to ensure legal certainty and public trust in the professionalism of SOE governance in Indonesia.
Co-Authors Atik Winanti Irwan Triadi