Governance of Marwari capital: Daily living as a decolonial ‘matrix-of-praxis’ intermeshing commercial, religious and familial spheres

This paper is a narration on practices of unlimited liability Marwari businesses of a textile town in Western India. Although depicted as an ‘outdated’ form of incorporation, these businesses were surprisingly resilient prompting us to engage in exploration of their ways of doing business. We deployed Mignolo’s concept of colonial-matrix-of-power to anchor our interpretive sense-making of enactments of our participant businessmen. The daily doings of the businessmen and their families enacted a ‘way of life’, Marwaripan. Activities created an intermesh across ‘local’ spaces of family, business and religion, constituting, what we call, a decolonial matrix-of-praxis. It created a ‘local’ form of Marwari governance where circulation and access to capital depended on extensively (and labouriously) negotiated construction of ‘status’ within open spaces of ‘enunciation’. However, preserving Marwaripan also required arduous striving and collective toil to continuously construct subjectivities based on customary dharma through a communitarian pedagogy that could wean away actors from the state driven pedagogy of regular schools.

Unlimiting Unlimited Liability: Legal Equality for Swedish Banks with Alternative Shareholder Liability Regimes, 1897–1903

This article examines the aftermath of the 1897 Riksbank Act in Swedish banking. The act placed banks with unlimited liability and those with limited liability on equal footing, removing the note-issuing privileges of the former. We consider whether changes in risk preferences occurred subsequent to the act, or whether extended liability was a sufficient deterrent. We conclude that when legal differences were removed, lower transaction costs for unlimited liability banks (ULBs) spurred aggressive competition, reflected in narrower interest spreads relative to limited liability banks (LLBs). ULBs also took on greater leverage and held less liquidity, which supports the Coasean interpretation that the shareholder liability regime mattered little. After 1897, ULB shareholders continued to receive higher dividends, enjoyed substantially superior returns on equity, and maintained an array of corporate governance controls to shield themselves against their additional risk.

Application of the Principle of Piercing the Corporate Veil in Resolving Corporate Responsibility Cases in Indonesia

This research aims to explain the application of the Principle of Piercing The Corporate Veil in resolving corporate responsibility cases in Indonesia. The method used in this research is normative legal research, using a statutory approach. The results of the research explain that based on Article 3 paragraph (1) of Law Number 40 of 2007 concerning Limited Liability Companies, it is stated that the shareholders of the company aren’t personally responsible for the agreements made on behalf of the company and aren’t responsible for the company's losses exceeding the shares they own. However, the doctrine in corporate law recognizes the existence of the Principle of Piercing the Corporate Veil which can break through the limited liability of the company's shareholders into unlimited liability up to their personal assets. Although the Principle of Piercing the Corporate Veil has been regulated in Law Number 40 of 2007 concerning Limited Liability Companies, there have been major cases in which the shareholders of the company were responsible up to their personal assets but only limited responsibility for the shares they owned. These major cases include the PT Lapindo Brantas case in 2006 and the PT Bank Century case in 2008.

Bankruptcy over the deceased's estate (inheritance) as a form of personal bankruptcy

Bankruptcy over the deceased's estate is one of the forms of personal bankruptcy. This institute contains a number of specifics that according to certain elements separate it from the personal bankruptcy. However, most of the rules of personal bankruptcy must apply to this form of bankruptcy, given the status of the deceased, his property and heirs. In order to be able to define the rules of personal bankruptcy in case of bankruptcy over the deceased's estate, we must start from the basic rules of inheritance law concerning the acceptance of inheritance and debts of inheritance. Also, important elements must be defined from the standpoint of the rules of the personal bankruptcy, namely the status of the deceased before death, the source of creditors' claims, the status of inheritance, as well as the possibility of conducting a special personal bankruptcy against the heir. When we talk about the status of the deceased before death, we mean that he was engaged in some economic activity as an entrepreneur or he was a member of a company that has unlimited liability where he is liable with his property for the debts of that company. Finally, the deceased could be only a consumer. The author tries to answer whether the status of the deceased before death is important for conducting bankruptcy proceedings over the deceased's estate. The paper also pays attention to the German legislation, as well as to the US legislation in this area. German Insolvency Act regulates personal bankruptcy in detail, as well as bankruptcy over the deceased's estate. In addition, the author refers to some important provisions of the Act on inheritance of Serbia, as well as of the Act on consumer's bankruptcy of Croatia.

Tanggung Jawab Negara terhadap Penembakan Pesawat MH17 berdasarkan Hukum Internasional

The purpose this research were to find out and analyze the form of the State of Ukraina accountability in shooting MH17 Malaysia Air Lines aircraft and knowing and analyzing the accountability of MH17 Malaysia Air Lines airliners to passengers. The type of research used is a type of normative legal research, the approach in this study is the law approach, case approach, and historical approach, the sources of legal material used are primary, secondary and tertiary legal materials. Legal material collection techniques used with document study techniques and legal materials are evaluated, interpreted, argued and discussed descriptively. The results of the study show (1) the responsibility of the Ukraina for Malaysia Air Lines MH17 Aircraft Shooting that the State of Ukraina must be responsible for providing safety and security services for the sovereignty of the air space over its territory by Malaysia Air Lines MH17 in the form of flight navigation services, (2) The Malaysia Airlines airline must be limited to 100,000 SDR for each passenger and Malaysia Airlines. The airline cannot be subject to unlimited liability or exceed 100,000 SDR. Every country is expected to always supervise the airspace which is the sovereignty of the airspace above which becomes the international civil aviation route and to coordinate well with the ICAO (International Civil Aviation Organozation) to maintain the security of international civil aviation.

MEKANISME PENINGKATAN BADAN USAHA PERSEKUTUAN KOMANDITER (CV) MENJADI BADAN HUKUM PERSEROAN TERBATAS (PT)

Dunia bisnis selalu penuh dengan perkembangan yang memerlukan respon dan pengambilan keputusan yang segera, sehingga dapat mengantisipasi perubahan itu. Salah satu bentuk perubahan itu adalah apabila suatu bisnis yang sebelumnya berbentuk badan usaha Perseroan Komanditer (CV) akan dirubah statusnya menjadi badan hukum Perseroan Terbatas (PT). Perbedaan prinsipil antara Perseroan Komanditer atau dikenal dengan sebutan CV (Commanditaire vennootschap) dengan Perseroan Terbatas (PT) terdapat pada status badan hukumnya, karena CV merupakan persekutuan yang tidak berbadan hukum dan tanggungjawab dari para sekutu pengurus hanya sampai kepada harta pribadinya. Sedangkan Perseroan Terbatas (PT) merupakan perseoran berbadan hukum dan tanggungjawabnya terbatas. Adapun Tujuan penelitian ini adalah untuk meneliti dan menganalisis mekanisme perubahan Persekutuan Komanditer (CV) Menjadi Badan Hukum Perseroan Terbatas (PT).Untuk menganalisis Tanggung Jawab Sekutu Komplementer Terhadap Perseroan Terbatas (PT) Yang Didirikan. Metode penelitian yang digunakan adalah penelitian hukum normatif yang bersifat deskriptif analisis, pengumpulan data dilakukan dengan menggunakan data primer dan data sekunder berupa bahan hukum primer, sekunder dan tertier sebagai data utama. Setelah data sekunder dan primer terkumpul, kemudian diadakan analisis secara kualitatif Berdasarkan hasil analisis data disimpulkan bahwa Prosedur pengalihan asset dari CV kepada PT harus sesuai dengan ketentuan peraturan perundang-undangan yang berlaku di bidang PT. Langkah pertama pengalihan asset tersebut adalah dengan mengadakan Rapat Umum Pemegang Saham (RUPS) untuk meminta persetujuan para persero dalam pengalihan asset dari CV kepada PT sebagaimana diketahui dalam PT, RUPS adalah organ perseroan yang mempunyai wewenang yang tidak diberikan kepada direksi atau dewan komisaris dalam batas yang ditentukan dalam Undang-Undang PT Nomor 40 Tahun 2007 dan/atau anggaran dasar PT. Terdapatnya dua jenis sekutu dalam Persekutuan Komanditer, yaitu sekutu komplementer dan sekutu komanditer mengakibatkan terdapatnya dua jenis tanggung jawab pula, yaitu tanggung jawab tidak terbatas (unlimited liability) dan tanggung jawab terbatas (limited liability). Pertanggunggjawaban sekutu komplementer apabila melakukan perbuatan hukum sebagaimana dimaksud dalam Pasal 12 dan Pasal 13 UUPT, maka terjadi peralihan hak dan kewajiban dari sekutu komplementer tersebut ke dalam perseroan dan perbuatan hukum yang dilakukan oleh sekutu komplementer tersebut mengikat perseroan.

Unlimited carrier's liability

The author in this article analyses unlimited carrier’s liability regarding not only to malicious behaviour of carrier in fulfilling obligations from contract of carriage (e.g. causing damage with intent, wilful misconduct or recklessly), but also ordinary situation where, despite of non-fulfilment of contract, carrier’s liability is limited. The core of this article is concentrated on the explanation of the link between strict carrier’s liability and legal importance of degree of carrier’s fault in non-fulfilment of contract. The author is on the standpoint that carrier should be liable limited, but not in amount below the value of goods, but in the amount equal to its market value. This liability regime is justified with the fact of high economic power of transport companies and developed technic in traffic and vehicles, which did not exist in the beginnings of modern transport. In the first part of the article is represented the notion of unlimited liability and legal regime of contemporary carrier’s liability expressed in strict liability. Then is considered legal importance of carrier’s fault in fulfilling contract, and especially the influence of degree of fault on (un)limitation of carrier’ liability. Finally, author highlights the number of persons who could be identified with carrier and specifically whose intentional and recklessly action would be resulted in unlimited carrier’s liability.

Prinsip Piercing The Corporate Veil Dalam Perseroan Terbatas Dihubungkan Dengan Good Corporate Governance

Tujuan penelitian ini menjelaskan prinsip piercing the corporate veil dapat menunjang terwujudnya GCG dalam rangka mencegah penyalahgunaan kekuasaan pemegang saham. Metode penelitian ini hukum normatif dengan pendekatan perundang-undangan), konsep dan kasus. Hasil penelitian ini dapat dijelaskan bahwa prinsip piercing the corporate veil menunjang terwujudnya GCG dalam rangka mencegah penyalahgunaan kekuasaan pemegang saham. Prinsip piercing the corporate veil tersebut dapat membatasi atau mencegah perbuatan melawan hukum yang dilakukan pemegang saham, komisaris, dan direksi yang memanfaatkan fasilitas perseroan untuk kepentingan pribadi atau penyalahgunaan kekayaan perseroan. Kesimpulan penelitian ini bahwa akibat hukum prinsip piercing the corporate veil terhadap tanggung jawab PT apabila dilanggar menyebabkan tanggung jawab perseroan yang tadinya terbatas menjadi unlimited liability (tanggung jawab tidak terbatas) hingga sampai harta pribadi dari pemegang saham. Dalam perkembangannya, tanggung jawab hukum tidak terbatas ini dapat dibebankan kepada organ perseroan lainnya, seperti komisaris atau direksi apabila terlibat dalam pelanggaran prinsip piercing the corporate veil. Dengan penerapan tanggung jawab pribadi berdasarkan prinsip piercing the corporate veil maka menjadi kewajiban hukum dari organ perseroan meliputi direksi, pemegang saham, dan komisaris yang menyalahgunakan wewenang untuk bertanggung jawab sampai pada harta kekayaan pribadi serta memberikan kepastian dan perlindungan hukum bagi stakeholders (para pemangku kepentingan) yang dirugikan atas kegiatan usaha yang dijalankan para organ.