Premature Lawsuit in Capital Market Dispute against Losses in Shares of The Sejahtera Bersama Savings and Loans Cooperative (Study Decision No. 160/PDT/2021/PT DKI)

Abstract

The capital market is a gathering place for companies and investors to carry out securities transactions such as shares, bonds and other securities. The capital market sector is very important for a country because it is the driver of a country's economy. Indonesia has a capital market sector which is regulated in Law Number 8 of 1995 concerning Capital Markets, this law explains the capital market regulations that must be obeyed by capital market players, namely investors and companies. The Indonesian government is aware of the potential for fraud, which is defined as violations or unlawful acts that are detrimental to the state and society. Regulations regarding capital markets seek to provide legal clarity and law enforcement in the capital markets sector, so that they remain important components for the development of the capital markets industry. Violations that occur in the capital market are often caused by an act carried out by an individual, in a group, directly, or by orders or influence from another party which causes losses to certain parties. These losses can be in the form of material losses and immaterial losses. As is the case with the capital market dispute in Decision no. 160/PDT/2021/PT DKI which strengthens Decision no. 745/Pdt.G/2019/PN JKT SEL. In Decision No.745/Pdt.G/2019/PN JKT SEL, the Panel of Judges stated that the lawsuit submitted by the Plaintiff could not be accepted based on several Judges' considerations, including because there was a premature lawsuit, namely a capital market dispute without first going through an examination by the Financial Services Authority. The plaintiff resubmitted the capital market dispute lawsuit by filing an appeal against Decision No. 160/PDT/2021/PT DKI and the Panel of Judges stated that they accepted the appeal by affirming the previous decision.