Jakarta, Indonesia – ADCO Law, one of leading law firms in Indonesia, has been recognized as the winner of the Indonesia Pro Bono Awards 2023. The prestigious award was presented to ADCO Law at the Awarding Ceremony during the discussion session “The Commitment and Impact of Pro Bono by Indonesian Lawyers on Social and Economic…
Civil law is an indispensable part of our lives; almost every aspect of our daily activities falls under its purview. From even before a person is born, to their interpersonal relationships with other people or with their assets, until their death, civil law plays a crucial role in upholding balance and justice. This article will…
What is Employee Fraud? From a company perspective, employee fraud is commonly understood as a deliberate fabrication, which causes the victim (the employer) to suffer economic loss while allowing the perpetrator (the employee) to gain an illegitimate benefit. Common examples of employee fraud range from misappropriation of assets (e.g., stealing inventory, or obtaining fraudulent payments)…
In addition to creating a legal relationship between parties, an agreement is further used as a means to regulate the exchange of rights and obligations of each party involved. An agreement is to be carried out properly, fairly and in proportion to the arrangements agreed upon by the parties. However, in practice, the exchange of…
Arbitration as an Alternative Dispute Resolution in Indonesia The vast and rapid technological developments have impacted the world’s commercial landscape. As a result, corporations need more time-efficient, more neutral and less complicated dispute resolution alternatives. One globally used alternative is arbitration, which is frequently preferred due to its international recognition feature and an arbitral award…
A. Executive summary The Financial Services Authority (OJK) on December 28, 2022, issued the Financial Services Authority Regulation Number 28 of 2022 (POJK 28/2022) stipulating: guidelines on how a company shall carry out Digital Insurance Brokerage Services ; human resources and core competencies required to do so; and activities which may be outsourced to other…
After approximately 60 (sixty) years, a new criminal law code was finally promulgated in Law Number 1 of 2023 (“New Criminal Code”) on January 2, 2023. Compared to the previous criminal law code inherited from the old Dutch-colonial era, the New Criminal Code has added many new criminal law provisions, one of which is crimes…
Mergers and acquisitions are strategies that are increasingly popular and are commonly carried out in the startup ecosystem recently in the context of corporate restructuring to improve competency and efficiency. However, mergers and acquisitions are very different concepts. Merger is the process of merging two companies which will then form a new business entity. In…
The International Monetary Fund (“IMF”) report predicts that the prospect of global economic growth in 2023 is only 2.3%, providing a projection of the chasm of crisis and recession in sight. In its 2022 World Economic Outlook (“WEO”) report, the IMF is also concerned about the deteriorating outlook for the global economy and that inflation…
Postponement of debt payment obligation (Penundaan Kewajiban Pembayaran Utang, “PKPU”) is a legal remedy that can be taken to restructure the debtor’s debt in order that he is able to pay off his debts. The PKPU application can be submitted either by the Debtor or the Creditor on the condition that the PKPU involves more…
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