International Journal of Social Service and Research
Vol. 6 No. 7 (2026): International Journal of Social Service and Research

Reexamination of the Curator’s Authority in Convening a General Meeting of Shareholders (GMS) for the Liquidation Bankrupt Estate Assets

Jo Wendy Suyoto (Universitas Krisnadwipayana)
Waty Suwarty Haryono (Universitas Krisnadwipayana)
Yuherman Yuherman (Universitas Krisnadwipayana)
Saefullah Saefullah (Universitas Krisnadwipayana)



Article Info

Publish Date
25 Jul 2026

Abstract

This study examines the authority of the curator in convening or facilitating a General Meeting of Shareholders (GMS) in a Limited Liability Company (LLC) declared bankrupt, with a particular focus on the curator’s role in the settlement of the bankrupt estate. This research employed a normative juridical approach using statutory, case, and conceptual approaches, with secondary legal materials obtained through library research. Three core issues were analyzed: first, the normative conflict between bankruptcy law (Law No. 37 of 2004) and company law (Law No. 40 of 2007) concerning the position of the GMS in bankrupt LLCs; second, the appropriate legal construction for addressing the normative gap regarding the curator’s authority to convene a GMS based on authority theory and the principle of legal certainty; and third, a future model for the curator’s authority in implementing a GMS for the settlement of bankrupt estate assets. The findings reveal the existence of a normative conflict and legal vacuum regarding the relationship between the curator’s authority and the GMS in bankrupt LLCs, resulting in legal uncertainty in practice. This study proposes a legal reconstruction model that positions the curator as the party authorized to convene a GMS under specific circumstances related to the settlement of bankrupt estate assets, subject to approval from the supervisory judge and compliance with the GMS mechanisms established under company law. It concludes that reconstructing the curator’s authority through harmonization between Law No. 37 of 2004 and Law No. 40 of 2007 is necessary to achieve legal certainty, strengthen creditor protection, and ensure the effective settlement of bankrupt estate assets.

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Journal Info

Abbrev

ijssr

Publisher

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences

Description

International Journal of Social Service and Research is a double-blind, peer-reviewed academic journal with open access to social and scientific fields. The journal is published monthly by Ridwan Institute. International Journal of Social Service and Research provides a means for sustained ...