PERTANGGUNGJAWABAN HUKUM DIREKSI ANAK PERUSAHAAN BUMN TERHADAP KEPAILITAN PERSEROAN (Studi Putusan Nomor 144/Pdt.Sus-PKPU/2024/PN.Niaga.Jkt.Pst.)

Miranti Dwi Pangesti, . (2026) PERTANGGUNGJAWABAN HUKUM DIREKSI ANAK PERUSAHAAN BUMN TERHADAP KEPAILITAN PERSEROAN (Studi Putusan Nomor 144/Pdt.Sus-PKPU/2024/PN.Niaga.Jkt.Pst.). Tesis thesis, Universitas Pembangunan Nasional Veteran Jakarta.

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Abstract

This research is motivated by legal issues concerning the classification of losses arising from the bankruptcy of State-Owned Enterprise (SOE) subsidiaries and the limits of directors’ liability in corporate bankruptcy. These issues emerge due to differing perspectives among corporate law, bankruptcy law, and state finance law, particularly in determining whether losses incurred by an SOE subsidiary constitute corporate losses or state losses. This study aims to analyze the legal status of losses arising from the bankruptcy of SOE subsidiaries and to examine the limits of directors’ liability in such bankruptcy proceedings. This research employs a normative legal method using statutory, conceptual, and case approaches. The legal materials consist of primary, secondary, and tertiary legal sources analyzed through a prescriptive method. The case study focuses on Decision Number 144/Pdt.SusPKPU/2024/PN.Niaga.Jkt.Pst concerning PT Indofarma Global Medika as a subsidiary of PT Indofarma Tbk. The findings indicate that, based on the principle of separate legal personality, PT Indofarma Global Medika as an SOE subsidiary constitutes an independent legal entity distinct from both the State and its holding company. Therefore, losses arising from its bankruptcy are fundamentally corporate losses. The bankruptcy of PT Indofarma Global Medika resulted from the failure to obtain the level of creditor approval required under the Suspension of Debt Payment Obligations (PKPU) mechanism, rather than from a prior judicial determination of unlawful conduct. This research further finds that directors of SOE subsidiaries cannot be held liable solely because the company has been declared bankrupt. Directors’ liability may only arise where there is evidence of a breach of fiduciary duty, conflict of interest, abuse of authority, or conduct falling outside the protection of the Business Judgment Rule. Within the SOE holding structure, directions or policies issued by the parent company may be considered in assessing causation and the degree of fault of the directors; however, such circumstances do not eliminate the principle of separate liability between the parent company and its subsidiary.

Item Type: Thesis (Tesis)
Additional Information: [No. Panggil : 2410622049] [Pembimbing 1 : Aurora Jillena Meliala] [Pembimbing 2 : Diani Sadiawati] [Penguji 1 : Wardani Rizkianti] [Penguji 2 : Andriyanto Adhi Nugroho]
Uncontrolled Keywords: SOE Subsidiary, Bankruptcy, Corporate Losses, State Losses, Fiduciary Duty, Business Judgment Rule
Subjects: K Law > K Law (General)
Divisions: Fakultas Hukum > Program Studi Hukum (S2)
Depositing User: MIRANTI DWI PANGESTI
Date Deposited: 09 Sep 2026 09:08
Last Modified: 09 Sep 2026 09:08
URI: http://repository.upnvj.ac.id/id/eprint/53990

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