Foundation Assets Research Articles

Collection of Foundation Assets That Disbanded Due to Bankruptcy in Company Law

The Foundation is a legal entity to which the rights and obligations provided for by the Legislation are attached. Law Number 28 of 2004 concerning Foundations regulates the establishment of the Foundation's legal entity until the dissolution of the Foundation. One of the reasons for the dissolution of the Foundation was bankruptcy, and after the Foundation was declared bankrupt by the court, the Foundation's assets had to be liquidated by liquidators or curators. In this paper, a problem formulation is put forward, namely how to reserve the assets of a Foundation that was dissolved due to bankruptcy? The result of this research is that if a Foundation disbands, its assets will be liquidated and the remaining assets resulting from liquidation will be handed over to other Foundations that have similar activities to the disbanded Foundation. In the event that the remaining proceeds of liquidation are not handed over to another Foundation which has similar activities, the remaining assets may be handed over to another legal entity which has similarities in activities to the dissolved Foundation, and if this is regulated in the Law concerning that legal entity. And if the two options above are not exercised, the wealth will be handed over to the State and its use will be carried out in accordance with the activities of the disbanded Foundation.

Pertanggungjawaban Pidana Pengurus Yayasan dalam Penggelapan Kekayaan Yayasan Pendidikan

This study aims to describe the Criminal Liability of Foundation Administrators in Misuse of Educational Foundation Assets. The method used in this study is normative juridical, namely research with data sources based on Laws, decisions, and other legal materials related to this scientific work with a Criminal Law perspective. Criminal acts of embezzlement in office without us realizing have occurred a lot and are difficult to identify because the perpetrators are still in the same scope as the institution, organization or company. The results of this study indicate that the defendant can be sentenced by the judge under Article 364 of the Criminal Code in conjunction with Article 64 of the Criminal Code so that the defendant is sentenced to 1 year in prison and is required to return the proceeds of the crime. In fact, Indonesia has special regulations governing Foundations along with criminal penalties for those who violate the legal provisions in Law No. of 2004 concerning amendments to Law No. of 2001 concerning Foundations. This is because there are certain criteria, namely the perpetrator as a core organ of the Foundation (Supervisor, Manager, Supervisor) so that someone who violates the provisions can be subject to articles in accordance with the Foundation Law. Keywords: Criminal Act, Embezzlement, Educational Foundation

Generationenkapital gleich Zockerkapital? – die implizite Ziel-Performance des Referentenentwurfs

Abstract The following article shows that the objectives of the draft bill, which are being pursued with generation capital, namely the creation of foundation assets of 200 billion euros and annual distributions of 10 billion euros, are achieved without loan interest at a performance of 3.26%. If the foundation has to pay interest on the loan, the required performance increases, but the spread decreases steadily from the initial 3.26%. If the target distributions are to increase dynamically in the future, a performance of around 0.3 percentage points higher would be required as long as the federal government continues to grant loans. This performance appears to be realistically achievable in the long term. Nevertheless, its financial contribution is estimated to be low.

Analisis Yuridis Terhadap Pengalihan Aset Ruko Atas Pembina Yayasan Medica Dengan Cara Jual Beli ( Studi Putusan Nomor : 21/Pid.B/2021/Pn.Bnj)

In Indonesia, foundations are regulated by law number 28 of 2004. In this regulation, it is clearly stated that foundations have their own assets and rights, which are not owned by their management. Prior to the existence of the law on foundations, the existence of foundation assets often caused controversy because sometimes foundations, which should aim for the benefit of society, were misused to commit illegal acts. In some cases, land and assets of foundations are even traded illegally, which of course violates the law and the property rights of the foundations itself. The research conducted in this study is normative research, where law is the basic reference in research. In terms of the problem in this study, the transferred foundation assets, namely a shophouse located on Jalan Veteran, Binjai District, Binjai City. The assets belong to the Medica Foundation but are in the name of Dr.Reinhard Silalahi, who in this case is the Trustee of the Foundation and the Defendant in the case in Decision No. 21/Pid.B/2021/Pn.Bnj. Based on the provisions of the Article 28 In the law on Foundation, Trustee are organs of the Foundation which have authority that is not granted to management or the supervisors by this law or the articles of association. In the verdict of the panel of judges, they argued that where was no act of fraud commited by the defendant, such as using a false name, false dignity, deception, and a series of lies. However, this act is considered as an unlawful act in the civil realm.

Penguasaan Harta Kekayaan Yayasan oleh Ahli Waris Pendiri Yayasan

This research aims to find and analyze the legal status of the foundation's assets controlled by the heirs of the foundation founder and analyze the role of the government in supervising a foundation. This research uses normative juridical approaches with data collection method in the form of library research. The results of the study show that: first, the foundation's assets that are personally controlled by the heirs of the founder of the foundation include unlawful acts that can be held civilly liable and can be prosecuted criminally. The assets of the foundation cannot be transferred or controlled personally because the legal entity of the foundation is the owner of the community based on the theory of legal entity; second, the role of the government in supervising the foundation based on the authority by legislation through the Ministry of Law, Human Rights and Human Rights (Kemenkumham) and the Minister of Social Affairs through the Social Service.

The Use of Third Party Services in the Protection of Foundation Funds in Indonesia

The foundation is a legal entity engaged in the social, humanitarian and religious fields. The Foundation has no members. Judging from its purpose, the foundation is not looking for profit. Foundations have an independent position as a result of having assets that are separate from the personal wealth of the founders and administrators, and have their own goals that are different or separate from the personal goals of the founders or administrators. In the article 7 of the Law states that foundations can participate in various forms of business that are prospective, provided that all participation is at most 25% (twenty five percent) of the total value of the foundation's assets. In practice, there have been irregularities in the management of funds and the misuse of foundations. This paper will examine how to manage foundation funds so that there are no irregularities in the foundation's legal entity. In the management of foundation activities, it can be made in the form of written activities before carrying out social activities for the foundation.

Shifting of Social Functions on Management of Foundation in Medan City

In founding the foundation there is also no uniformity. Notaries usually do not have a standard format regarding the founding deed of the foundation. As a result, each foundation can have its own articles of association as well as the Civil Society Association. Each foundation can make the articles of association according to their needs. The study was conducted using a normative juridical approach with the aim of obtaining secondary data, namely the inventory of legislation and data collection tools in the form of document studies. The foundation was established and developed with the family's efforts so that when the foundation developed rapidly and had many assets, the assets were owned by the family, family assets. The foundation is managed jointly by the family so that when a foundation regulation is established demanding changes to the Articles of Association, this means that there will be separation of foundation assets, restoration of the social functions of the foundation, transparency of accountability and publicity of the foundation's financial statements and ownership of the foundation belongs to the community. This condition is certainly burdensome for the foundation's owners

Protectors in Liechtenstein: protecting or threatening trust and foundation assets?

Abstract When setting up trusts and foundations, settlors and founders struggle with giving away assets and control to professional trustees in Liechtenstein whom, in many cases, they have never met. At first, to bridge that gap, settlors’ confidants accepted roles as protectors and the settlor conferred powers on them aimed at policing and, if necessary, firing the trustee. In the absence of enforceable rights to information and locus standi in Liechtenstein courts, discretionary trust beneficiaries greatly rely on the assistance of such protectors, especially when trusts are in crisis or dispute. More recently, however, protectors have undergone sophisticated (re-)structuring and adopted new identities, e.g. as corporate entities, thus not necessarily facilitating governance, but sometimes adding complexity. Increasingly, the international regulatory framework has impacted that structure, as the threat of being considered a controlling protector might lead to undesired effects, including protectors being registered and exposed in BO Public Registers, or, even worse, being reported as beneficial owners of trusts and foundations to their local tax authorities. As is the case with any legal concept, structuring provides protectors with both opportunities and pitfalls. This article wishes to set out how protectors can save trusts and foundations from collapsing and how to protect assets from the onslaught of the settlors’ creditors. That said, there are some downsides: a very recent Supreme Court case shows that using protectors might doom the trust or foundation to failure unless pristine standards and principles are followed.

Eksistensi Pengurus Terkait Dengan Proses Pemberesan Kekayaan Yayasan Oleh Likuidator Dalam Mewujudkan Kepastian Hukum

This study investigates the existence of a court-appointed board that serves as a liquidator. When the liquidator conducts the process of settling assets, problems occur if the Foundation's management is unwilling to work with the liquidator. The approach employed in this study is normative legal research, which is conducted in an effort to acquire the pertinent information regarding the issue. The qualitative juridical analysis method is utilized for data analysis. On the basis of Article 63 of the Foundation Law, the results of the study were obtained on the existence of the Management in the process of settling the assets of the Foundation by the liquidator. If the Foundation is dissolved because its time period and objectives have been met or not met, the Trustees appoint a liquidator; if the Trustees do not appoint a liquidator, the management acts as a liquidator; and if the Foundation is dissolved because of a court order, the court also appoints a liquidator. The court-appointed liquidator is authorized to dispose of the Foundation's assets. The nomination of the Management as Liquidator is inappropriate due to the fact that the liquidator is essentially a former member of the Foundation's management, which might cause conflict and impede the process of settling the Foundation's assets.

Illuminating Sustainable Investment at Canadian Foundations

Foundations play an important role in transitioning to a low-carbon economy. As mission-driven organizations, foundations can be leaders in social finance given their focus on environmental, social, and governance (ESG) impact. At best, the majority of foundation assets could be fully activated to achieve peak impact, and at worst, they could be negating the foundation’s beneficial impacts. This paper argues that annual reporting on ESG and an increase in the percentage of investments toward a greener economy will assist Canadian foundations in becoming more climate friendly. I employ semi-structured interviews with senior staff and board members at Canadian foundations that are leaders in ESG and impact investing and use institutional and stakeholder theory to explain the driving forces behind increased ESG investing at foundations.

Legal Provisions Concerning Transfer of Foundation Property

This writing examines the legal provisions regarding the transfer of foundation assets. Foundation is a legal entity consisting of assets that are separated and intended to achieve certain goals and objectives in the social, humanitarian and religious fields that do not have members . Article 5 paragraph (1) of Law Number 28 of 2004 concerning Amendments to Law Number 16 of 2001 concerning Foundations relates to the prohibition on the transfer of assets or assets of foundations. The formulation of the problem in This writing is how the legal provisions regarding the transfer of foundation assets are based on legal procedures and the Foundation Law. This research is a normative legal research that uses secondary data as the main material. Data collection techniques using literature study. The conclusion of this study is that the transfer of foundation wealth can only be justified by law if the foundation does not achieve its goals and objectives. Basically the assets or assets of the foundation can be sold to other parties as long as they fulfill the provisions of Article 37 paragraph 1 letter b of Law Number 16 of 2001 concerning Foundations, namely that the management must first obtain the approval of the Trustees. The transfer of Foundation Assets or Wealth that may be transferred must meet 3 (three) Principles, namely Transparency, Accountability, and Publicity.

The Amendment Deed to Foundation Budget through Notary on Foundation's Assets from Waqf Process

The establishment of a Foundation after the enactment of Law Number 28 of 2004 concerning Amendments to Law of the Republic of Indonesia Number 16 of 2001 concerning Foundations is carried out with the condition that there are founders, a Notary Deed and obtain legal entity status which after the deed of establishment obtains approval from the Minister of Justice and Human Rights or appointed officials. Along the way, the foundation can also experience changes. Amendments may include amendments to the articles of association, except for the purposes and objectives. The purpose of this journal research is one, to analyze the legal review of the position of the deed of amendment to the foundation's articles of association through a notary on the foundation's assets from the waqf process. two, to analyze the obstacles and solutions for changing the foundation's articles of association through a notary on the foundation's assets from the waqf process. The approach method in this legal journal research is to use normative legal research with a sociological juridical approach and other approaches including case approach, statute approach, historical approach, comparative approach, Conceptual approach (conceptual approach) . the results of this study indicate the obstacles and solutions for changing the foundation's articles of association through a notary on the foundation's assets from the waqf process is a legal consequence of the notary's error in making a deed of amendment to the articles of association with the intention of adjusting the foundation's articles of association with the foundation law, if any parties who feel aggrieved and there are those who file a notary lawsuit can be sued to pay compensation, interest and fees. And the notarial deed has no legal force if it is not in accordance with the laws and regulations that apply to the foundation.

The Amendment Deed to Foundation Budget through Notary on Foundation's Assets from Waqf Process

The establishment of a Foundation after the enactment of Law Number 28 of 2004 concerning Amendments to Law of the Republic of Indonesia Number 16 of 2001 concerning Foundations is carried out with the condition that there are founders, a Notary Deed and obtain legal entity status which after the deed of establishment obtains approval from the Minister of Justice and Human Rights or appointed officials. Along the way, the foundation can also experience changes. Amendments may include amendments to the articles of association, except for the purposes and objectives. The purpose of this journal research is one, to analyze the legal review of the position of the deed of amendment to the foundation's articles of association through a notary on the foundation's assets from the waqf process. two, to analyze the obstacles and solutions for changing the foundation's articles of association through a notary on the foundation's assets from the waqf process. The approach method in this legal journal research is to use normative legal research with a sociological juridical approach and other approaches including case approach, statute approach, historical approach, comparative approach, Conceptual approach (conceptual approach) . the results of this study indicate the obstacles and solutions for changing the foundation's articles of association through a notary on the foundation's assets from the waqf process is a legal consequence of the notary's error in making a deed of amendment to the articles of association with the intention of adjusting the foundation's articles of association with the foundation law, if any parties who feel aggrieved and there are those who file a notary lawsuit can be sued to pay compensation, interest and fees. And the notarial deed has no legal force if it is not in accordance with the laws and regulations that apply to the foundation.

Kedudukan Asset Yayasan Yang Dijadikan Jaminan Dalam Permohonan Kredit Bank

The Foundation is a nonprofit organization incorporated under Article 1 paragraph 1 of Law No. 28 of 2004 on the amendment of Law 16 of 2001 on the Foundation. To be able to support in order to achieve his aim, the Foundation permitted to establish a legal entity and or participate in a business entity. This research is a descriptive analytical, research that provides data or description of the object of the research issues that are not intended to test the theory, but in the limit to explain the variable research on lending by banks to the foundation. In this research will be described regarding the granting of credit by banks to the foundation principles associated with healthy credit. The researches will provides answer that i t can be seen that the intended use of foundation assets as collateral for the loan is membngun, expand, improve infrastructure facilities aimed at social, religious and humanitarian such as education and hospitals. If the foundations are in default or injury promises in the implementation of the payment and repayment of debt, the bank will carry out the execution of the foundation's assets used as loan collateral. The process of execution of loan guarantees its implementation in accordance with applicable laws similar position with the firm, CV, limited liability company and Cooperatives. In the execution of the foundation assets in case of default of payment execution carried out such a sum of money to the court decision binding. Execution starts with ends with auction rebukes and mortgage-burdened. After the auction the collateral objects and auction proceeds handed over to the lender, then the burden of mortgage objects will be handed over to the buyer diroya and auctions are clean and free of all expenses.

TRANSFER OF ASSETS WITH SHARE OF FOUNDATIONS TO A LIMITED COMPANY IN THE PERSPECTIVE OF THE FOUNDATION ACT AND THE LIMITED COMPANY Law

Foundations that run a profit-seeking business are not prohibited as long as the profit-seeking business is not directly carried out by the Foundation, but by establishing a limited liability company. The problem in this thesis is how the position of foundation assets transferred in the form of shares to Limited Liability Companies is examined from the perspective of the Foundation Law and the Limited Liability Company Law, how the process of transferring Foundation assets in the form of shares to Limited Liability Companies is reviewed from the perspective of the Foundation Law and the Limited Liability Company Law. This type of research is normative juridical, namely research based on law. Data analysis was carried out qualitatively, which is a form of analysis that does not rely on numbers but on sentences. Drawing conclusions in this paper is done using deductive-inductive thinking logic, which is done with the theory used as a starting point for conducting research. The results showed that the position of the foundation's assets was as the initial assets of the foundation. The process of transferring Foundation assets that is not in accordance with Law Number 28 of 2004 concerning Foundations is if the transfer is carried out by the management of the Foundation without the approval of the Foundation's supervisor and the provisions contained in the Foundation's Articles of Association. The transfer of Foundation assets illegally to shares in a Limited Liability Company is null and void, because it is against the Foundation Law, the Limited Liability Company Law and the provisions of Article 1335 of the Civil Code and 57 paragraph (1) letter b of Law No. 40 of 2007 concerning Limited Liability Companies which require the transfer of shares must obtain prior approval from the company's organs .

Legal Protection of Foundations of Land Ownership Which Is Named to the Management

The purpose of conducting this research is to analyze and determine the status of land ownership by foundations whose initial ownership was before the enactment of the Law on Foundations on behalf of the foundation management. The research method used is a sociological juridical research. While the research approach used is a statutory approach, history, cases, and a philosophical approach. The results of the study show a tendency that the existence of a foundation which has historically originated from relying on colonial doctrine, jurisprudence, and regulations, makes the foundation's status as a legal entity does not appear firm. Thus, this has implications for the foundation's rights to manage and own the foundation's wealth and assets. The foundation's wealth and assets are actually important entities for the foundation in carrying out the foundation's activities in order to achieve the foundation's goals. The Law on Foundations only existed in 2002, which once stated that foundations were legal entities engaged in social, religious and humanitarian fields. The positive impact that arises after the promulgation of regulations on foundations is that it makes it easier for foundations to take legal actions, especially in terms of managing the foundation's assets. However, in its development, law must be able to support the sociological development of the legal subject itself. The Law on Foundations is not sufficiently capable of providing legal protection for foundations related to ownership of land rights by foundations. Although under transitional provisions, it has been mandatory for foundations within a certain period of time to adjust the Foundation's Articles of Association and Bylaws with the new law. However, there are no articles that specifically regulate how the transfer of ownership status of foundation assets from before the enactment of the Law on Foundations until after the enactment of the Law on Foundations. So, this research leads to the conclusion that it is necessary to include articles in the Law on Foundations that regulate the ownership status of foundation assets and their transfers.

Sanksi Hukum Bagi Pengawas Yayasan yang Lalai dalam Menjalankan Fungsinya Sebagai Organ Yayasan

A foundation is an institution that carries out religious, humanitarian and social activities that are formed by the community or the government. Law Number 16 of 2001 concerning Foundations as later amended by Law Number 28 of 2004 concerning amendments to Law Number 16 of 2001 concerning Foundations which provides certainty of the legal position of foundations as legal entities. Foundations do not have members, but have foundations consisting of coaches, administrators and supervisors who as legal subjects are capable of taking legal actions. The management of foundation assets is open in nature so that proper supervision is required. The Supervisory Organ has the authority to supervise the management of the Foundation by supervising financial reports, activity reports and their achievements which are written by the Management to be ratified in a supervisory meeting. These supervisors must have good faith in carrying out their authority, duties and responsibilities. The method used in this research is normative legal research using a statutory approach. The authority of a Supervisor is regulated in statutory regulations, however, legal sanctions if a Supervisor is negligent in carrying out the function are not completely stated. So that in order to avoid negligence in its function, it is necessary to have strict sanctions to avoid any harm to the Foundation, the state or related parties.

Position of Foundation Assets from State Assistance

The existence of a foundation in the community to achieve various activities, aims and objectives in the social, religious and humanitarian fields has developed rapidly and has more diverse features. However, there are various interpretations of the substance of the Law on Foundations in society, which can lead to uncertainty and legal order. In this connection, a foundation is a legal entity consisting of separated assets of the founder. In addition, the source of the foundation's wealth can be obtained from other sources. A foundation is a legal entity consisting of separated assets of the founder. In addition, the source of the foundation's wealth can be obtained from other sources. Based on the Foundation Law, it is stated that the sources of the Foundation's assets can also be obtained from: donations or assistance that are not binding, waqf, grants, testament grants, and other acquisitions that do not conflict with the articles of association or the prevailing laws and regulations. Donations or non-binding assistances are defined as voluntary donations or assistance received by a foundation, whether from the State, the community or from other parties. This research was conducted to analyze problems arising from the position of the foundation's assets originating from state assistance and to find solutions to the problems that arise. The approach method used in this research is normative juridical which is descriptive-analytical in nature. Primary data is obtained using field research methods, while secondary data is obtained through library research. The collected data were analyzed qualitatively. The results of this study indicate that the management of the foundation is still influenced by the bureaucratic structure when viewed from the composition of the personnel of coaches, administrators and supervisors consisting of former local government officials and the Ministry of Religion of Cirebon Regency.

Wilson Family Foundation

An up-and-coming staffer at a small family foundation was considering whether to recommend a corporate bond investment to the foundation's investment committee. Her exploration was inspired by an article that identified some attractive corporate bond investments, and she was examining the merits of specific bond issues from Allegiant Travel, GameStop, and Western Union. Information is provided that would support a variety of bond pricing analyses, with a focus on uncovering possible mispricing and the drivers of that mispricing. Excerpt UVA-F-1899 Feb. 28, 2020 Wilson Family Foundation Janet O'Brien had been working in the family office of a central Virginia family-owned business for over five years. Her initial responsibility had been to evaluate proposals that came to the family's charitable foundation, the Wilson Family Foundation (the Foundation), and make recommendations as to which proposals most aligned with the Foundation's objectives and, at the same time, seemed most likely to achieve stated goals. By late 2018, however, she was helping others in the office identify investments for the Foundation's assets. While most of the Foundation's assets were managed by outside professionals, about $ 20million was managed in-house—typically invested in equities, government securities, or corporate bonds. The Foundation tended to adjust its holdings infrequently, and typically held investments for at least a year, and often much longer. The investment committee comprised two family members and the foundation's executive director. On December 21, 2018, O'Brien was scanning headlines and came across a piece in U.S. News and World Report that identified seven corporate-bond investments that professionals believed would make good choices for 2019. Of those seven investments, she was most intrigued by possible investments in the bonds of three companies: Allegiant Travel, GameStop, and Western Union. Having identified specific bonds issued by these companies that the Foundation might wish to hold, her next task was to evaluate each bond's attractiveness and select which, if any, to recommend to the investment committee. . . .

THE ROLE OF SUPERVISORY JUDGE IN THE BANKRUPTCY OF FOUNDATION

<p>This article aims to find out how is the role of judges in overseeing the supervisory curator during the liquidation of the Foundation assets which is experiencing bankruptcy, as mandated in The Act No. 28 of 2004 about The Changes of Act no. 16 of 2001 about the Foundation and Act No. 37 of 2004 about Bankruptcy and Suspension of Payments of Debt. This Legal research is doctrinal and perspective. Source of the legal materials are used in the form of primary and secondary legal materials. The technique used in collecting the legal materials is study of librarianship. The technique used is analysis and interpretation of syllogism by using deductive thinking pattern. The results of the research and study produce a conclusion that these forms of control can be exercised by Supervisory Judge in supervising liquidation process while the curator of Foundation who has experienced bankruptcy is to provide licensing, approval, awarding, and proposal to curators in conducting the management and liquidation of bankrupt assets of foundation. Additional supervision conducted by Supervisory Judge is reporting responsibility of curator against the Builder ofthe Foundation regarding to the results of process of liquidation of Foundation’sassets which suffered bankruptcy. In addition, Supervisory Judge also examine the results of liquidation which is performed by curator over the clearing of the foundation’s assetswhich is experiencing bankruptcy.</p>