HHR Updates

Newsletter - Financial Services Authority Allows General Meeting of Shareholders of Public Companies to be Convened Electronically in The Midst of The Corona Virus Disease-19 (“COVID-19”) Pandemic
Author: Capital Market & Banking Finance Practice Group     Since its first occurrence in Indonesia earlier this year, the number of confirmed COVID-19 case has significantly increased from time to time. This situation forced the Government of Indonesia, through regional government, to apply public movement restrictions by introducing the concept of Large-Scale Social Restrictions (Pembatasan Sosial Berskala Besar – “PSBB”) which prohibits mass
Newsletter - New Capital Market Regulations on Material Transactions and Affiliated and Conflict of Interest Transactions
Author: Capital Market & Banking Finance Practice Group     OVERVIEW   The Indonesian Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) has recently issued the new regulations relating capital market sector, namely:   OJK Regulation No. 17/POJK.04/2020 on Material Transactions and Change of Business Activities, entered into effect on 21 April 2020 (“POJK No. 17/2020”); and OJK Regulation No.
Newsletter - Doing Business During The Pandemic: Indonesia’s Government Support in Countermeasuring The Corona Virus Disease-19 (“COVID-19”) Outbreak
Author: Corporate and Investment Practice Group     The spread of COVID-19 outbreak has significantly disrupted the economic stability of almost all nations around the globe, not excluding Indonesia. Shortly after the first two cases of COVID-19 in Indonesia were confirmed by the Government of Indonesia (“GoI”) back in March 2020, the GoI declared the COVID-19 outbreak as: (i) the public health emergency through the Presidential Decree No. 11 of 2020 on
Newsletter - Mandatory Disclosure of The Beneficial Owner of A Limited Liability Company
Author: Corporate and Investment Practice Group   GENERAL OVERVIEW OF THE MANDATORY DISCLOSURE OF BENEFICIAL OWNER   To support the ongoing efforts in deterring and eradicating economic crimes as well as illicit financial flows, the Government of Indonesia (“GoI”) has enacted the Presidential Regulation No. 13 of 2018 on the Implementation of the Principle of Knowing the Beneficial Owners of Corporations in relation to the Prevention and Eradication of
Newsletter - Restorative Justice as A Solution in Indonesian Criminal Proceedings
Author: Commercial Dispute Resolution Practice Group   In Indonesia, disputes arising between victim and perpetrator under criminal law are resolved through criminal proceedings. However, criminal proceedings focus on providing a deterrent effect on the perpetrator rather than providing merits to all parties, especially for the victim. Therefore, many victims did not receive any material or imaterial remedy for the consequence of criminal act conducted by perpetrator, even the
Newsletter - Corona Virus Disease-19 (“COVID-19”) Pandemic as Force Majeure in Indonesia?
Author: Commercial Dispute Resolution Practice Group   The pandemic of Corona Virus Disease-19 or generally known as COVID-19, has significantly affected all of the business sectors in Indonesia. This situation interrupt most of all business sectors, and affects business actors which are struggling to maintain their business operation. Some business actors are being forced to close temporarily or even permanently. This situation affects the increase of companies that went bankrupt or