Corporate Liability for Creditors’ Losses during the Covid-19 Pandemic
| Main Authors: | Johan, Suwinto, Ariawan, Ariawan |
|---|---|
| Format: | Article info application/pdf eJournal |
| Bahasa: | eng |
| Terbitan: |
Fakultas Hukum Universitas Muhammadiyah Yogyakarta
, 2021
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| Subjects: | |
| Online Access: |
https://journal.umy.ac.id/index.php/jmh/article/view/10566 https://journal.umy.ac.id/index.php/jmh/article/view/10566/6496 |
| ctrlnum |
article-10566 |
|---|---|
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<dc schemaLocation="http://www.openarchives.org/OAI/2.0/oai_dc/ http://www.openarchives.org/OAI/2.0/oai_dc.xsd"><title lang="en-US">Corporate Liability for Creditors’ Losses during the Covid-19 Pandemic</title><creator>Johan, Suwinto</creator><creator>Ariawan, Ariawan</creator><subject lang="en-US">bankruptcy; corporate liability; covid-19 pandemic; limited liability company</subject><description lang="en-US">Many companies experienced bankruptcy lawsuits during the Covid-19 pandemic in 2020. This was so when the companies’ asset cannot afford their obligations upon their creditors, especially banks and other financial institutions. The creditors demanded compensation to avoid losses due to the companies’ failure in repaying their loans. The question is who should be held liable if the companies are of limited liability companies. This paper aims to examine the liability of corporation for creditors' losses. This normative legal research relies on secondary data in the form of legal materials, especially primary and secondary legal materials. The result shows that demanding compensation through bankruptcy lawsuit is not an easy task for the creditors. In fact, a separate lawsuit is required rather than incorporating it in a bankruptcy lawsuit. Even, it is not only a matter of civil case but also criminal case. Therefore, the companies may be subjected to both civil and criminal liability.</description><publisher lang="en-US">Fakultas Hukum Universitas Muhammadiyah Yogyakarta</publisher><contributor lang="en-US"/><date>2021-07-01</date><type>Journal:Article</type><type>Other:info:eu-repo/semantics/publishedVersion</type><type>Journal:Article</type><type>File:application/pdf</type><identifier>https://journal.umy.ac.id/index.php/jmh/article/view/10566</identifier><identifier>10.18196/jmh.v28i1.10566</identifier><source lang="en-US">Jurnal Media Hukum; Volume 28, Number 1, June 2021; 15-28</source><source>2503-1023</source><source>0854-8919</source><language>eng</language><relation>https://journal.umy.ac.id/index.php/jmh/article/view/10566/6496</relation><rights lang="en-US">Copyright (c) 2021 Suwinto Johan, Ariawan Ariawan</rights><rights lang="en-US">http://creativecommons.org/licenses/by-nc/4.0</rights><recordID>article-10566</recordID></dc>
|
| language |
eng |
| format |
Journal:Article Journal Other:info:eu-repo/semantics/publishedVersion Other File:application/pdf File Journal:eJournal |
| author |
Johan, Suwinto Ariawan, Ariawan |
| title |
Corporate Liability for Creditors’ Losses during the Covid-19 Pandemic |
| publisher |
Fakultas Hukum Universitas Muhammadiyah Yogyakarta |
| publishDate |
2021 |
| topic |
bankruptcy corporate liability covid-19 pandemic limited liability company |
| url |
https://journal.umy.ac.id/index.php/jmh/article/view/10566 https://journal.umy.ac.id/index.php/jmh/article/view/10566/6496 |
| contents |
Many companies experienced bankruptcy lawsuits during the Covid-19 pandemic in 2020. This was so when the companies’ asset cannot afford their obligations upon their creditors, especially banks and other financial institutions. The creditors demanded compensation to avoid losses due to the companies’ failure in repaying their loans. The question is who should be held liable if the companies are of limited liability companies. This paper aims to examine the liability of corporation for creditors' losses. This normative legal research relies on secondary data in the form of legal materials, especially primary and secondary legal materials. The result shows that demanding compensation through bankruptcy lawsuit is not an easy task for the creditors. In fact, a separate lawsuit is required rather than incorporating it in a bankruptcy lawsuit. Even, it is not only a matter of civil case but also criminal case. Therefore, the companies may be subjected to both civil and criminal liability. |
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