Payment Obligations Research Articles

Review of Theory of Legal Objectives on Article 31 Section (1) and (2) of Law Number 37 Of 2004 Concerning Bankruptcy and Suspension of Debt Payment Obligations

The bankruptcy case of PT Aliga Internasional Pratama is proof of the dualism of the position of criminal confiscation over general confiscation in the bankruptcy estate. Based on the decision of the Commercial Court at the Central Jakarta District Court, PT. Aliga International Pratama has been legally declared bankrupt with all the legal consequences. Whereas as of the date of the bankruptcy decision, all assets of PT. Aliga is in a state of general confiscation, and the authority to control and manage all of their asset rests with the Curator Team. However, 2 buildings which are bankrupt assets, namely The Aliga Hotel and factory/office buildings, have been confiscated by the Criminal Investigation Police Investigators (Bareskrim Polri).The research method in this paper is descriptive qualitative, namely the legal material obtained is presented descriptively and analyzed qualitatively.
 The results showed that, analyzed using the theory of justice according to Thomas Aquinas and the theory of expediency by Jeremy Bentham, the provisions of Article 31 paragraphs (1) and (2) of the UUK have fulfilled the values of justice and expediency in their norms. However, analyzed by Jeremy Bentham's theory of legal certainty, the provisions of Article 31 paragraphs (1) and (2) of the UUK do not meet the value of legal certainty. Then the judge's decision has been right and fulfills the elements of certainty, justice, and legal expediency

Juridical Analysis of PKPU Decision by The Court on Application for PKPU Revocation by The Debitor

The purpose of this study is to find out how the judge's consideration in revoking the Delay of Debt Payment Obligation on the request of the debtor who has been determined to be Debt Payment Suspension, but there are findings of the calculation of the management team of Debt Payment Delay which states that the assets (Activa) of the debtor are still larger. of obligations (liabilites) so as to ask the Court to revoke the Suspension of Debt Payment Obligations. In addition, it is necessary to know how the legal impact that will be received by debtors and creditors on Decision Number: 53/Pdt.Sus-PKPU/2021/PN.Niaga.Jkt.Pst. This study applies a normative juridical research method that makes court decisions as primary legal material and occupies a position after legislation. The primary legal data or materials analyzed in this study are court decisions, namely Decision Number: 53/Pdt.Sus-PKPU/2021/PN.Niaga.Jkt.Pst dated April 12, 2021 and Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations. Based on this research, it can be concluded that the application submitted by the debtor in the revocation of the Suspension of Debt Payment Obligations is appropriate because the revocation of the Suspension of Debt Payment Obligations is carried out by the Court based on the provisions stipulated in Article 295 Paragraph (1) of Law Number 37 of 2004 concerning Bankruptcy and Postponement Obligation for Payment of Debt, so that the Central Jakarta District Court has the authority to revoke the Suspension of Obligation for Payment of Debt at the request of the debtor.Keywords: Postponement of Debt Payment Obligations; Revoke PKPU; Bankruptcy; Commercial Court.

СОЛИҚ ТУШУМЛАРИНИ ПРОГНОЗЛАШТИРИШ УСУЛЛАРИНИ ТАКОМИЛЛАШТИРИШ МАСАЛАЛАРИ

In the Republic of Uzbekistan, special attention is paid to the fundamental improvement of service and technical maintenance on the basis of mutual cooperation on the issues of taxation of users of natural resources, ensuring the required level of collection of taxes and other obligatory payments, and tax administration. taxpayers and the fulfillment of tax obligations.

Earnings quality and trade credit in the Gulf Cooperation Council

The primary concern of credit providers is the timely payment of obligations by clients, as most clients tend to pay their obligations late. To obtain accurate information from their buyers, credit providers need to rely on financial reporting or other information channels. The purpose of this study is to investigate the impact of earnings quality on trade credit, with a focus on the moderating role of accounting information comparability. We used Refinitiv Eikon and Fitch Connect databases to measure the variables. The study utilized financial information from 250 companies listed on the Gulf Cooperation Council (GCC), and six countries’ stock exchanges between 2016 and 2021 with 1500 firm-year observations. Panel data regression models were used to test the research hypotheses. This study aims to answer if earnings quality has an impact on trade credit and if the impact of earnings quality on trade credit is greater in companies with higher comparability than in companies with lower comparability. The findings revealed that earnings quality has a positive impact on trade credit. Moreover, the results suggested that an increase in accounting information comparability intensifies the effect of earnings quality on trade credit. This paper has repercussions for policymakers, investors, and business organizations. Importantly, our study reveals how higher levels of earnings quality lead to better trade credit practices.

PENDEKATAN HAK ASASI MANUSIA DEBITOR DAN KREDITOR DALAM PENGUJIAN UNDANG-UNDANG KEPALITIAN DAN PENUNDAAN KEWAJIBAN MEMBAYAR UTANG DIMASA MENDATANG


 
 The Human Rights Approach of Debtors and Creditors in Testing Bankruptcy Laws and Postponing Bankruptcy Obligations to Pay Debts in the Future is discussed in this study, Along with how Indonesia's legal system's state or evolution with regard to bankruptcy law and the suspension of debt payment responsibilities. Indonesia. In this study, a normative research methodology is used to investigate problems with the law and pertinent literature. According to the study's findings, the Bankruptcy Law and Postponement of Obligation to Pay Future Debt regulates the human rights approach between debtors and creditors when it comes to testing the law. Law Number 37 of 2004 Concerning Bankruptcy and Postponement of Debt Payment Obligations is the name of this regulation. By filing for bankruptcy or requesting a suspension of their debt payment responsibilities, debtors can reach an agreement with their creditors regarding the repayment of their debts. A delay in payment of debt is a time period allotted by law in line with a Commercial Judge's Decision, during which the creditor and debtor can discuss how to pay their debts by drafting a payment plan for all or any of those debts, including by restructuring the debt. Either the debtor or the creditor may ask for a suspension of the debt payment obligations.

Legal Review of the Role of the Ministry of Finance in Filing Bankruptcy Applications Against State-Owned Bankruptcy Debtors

The purpose of this research is to find out how the Bankruptcy Regulations Against BUMN and how the Role of the Minister of Finance in Submitting the Application for a Statement of Bankruptcy Against BUMN Debtors, which with normative legal research methods are concluded: 1. Arrangements for bankruptcy of a State-Owned Enterprise (BUMN) are regulated as a whole in Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations. More specifically, the regulation is regulated in Article 2 paragraph (5) of Law Number 37 of 2004. Bankruptcy arrangements for BUMN have ambiguity or multiple interpretations related to the explanation of Article 2 paragraph (5) regarding BUMN that are engaged in the public interest, the Bankruptcy Law does not provide restrictions the criteria for the public interest are strictly defined, only using limits on the size and origin of the capital but not clearly explaining that what is meant by public interest is BUMN Perum. The existence of disharmony of the law regarding the authority of the Minister of Finance in insolvency of BUMN Perum must also pay attention to the principle of Lex posteriori derogate legi priori, namely the new regulation defeats or paralyzes the old regulation. 2. The Minister of Finance has an important role in submitting an application for a declaration of bankruptcy against a State-Owned Enterprise (BUMN). The Minister of Finance has a role to bankrupt a BUMN that is engaged in the public interest (perum) for the benefit of the country's economy, or to be one way to save the country's economy through bankruptcy. The role of the Minister of Finance in the bankruptcy of SOEs in accordance with Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations is as an applicant for a declaration of bankruptcy against State-Owned Enterprises (BUMN) engaged in the public interest or Perum. In the event that BUMN creditors who will file for bankruptcy must first submit an application to the Minister of Finance through the Legal Bureau for State Property Law, Company, and Legal Information which will then be submitted to the Minister of Finance to immediately submit a request for a declaration of bankruptcy against BUMN to the Chairperson of the Court. Kata kunci: bangkrut; Menteri Keuangan;

Uniform Rules for Digital Trade Transactions (URDTT): Novelty or Necessity

Uniform Rules for Digital Trade Transactions (URDTT) do not offer solutions to all issues in this area, but by striving to achieve uniformity, by providing a collective understanding of terms and definitions, as well as by promoting and supporting the usage of electronic records, they contribute to easier, faster, cheaper, and environmentally sustainable business. While their formulation and publication are an important step towards a digital future, acceptance and effective implementation are an even greater challenge. The prerequisites for this are a thorough understanding, but also solving a number of technical issues, which can be very complex. To this end, the paper, after determining the area of application, discusses the roles of participants in a digital trade transaction, as well as issues that are key to its proceeding, the payment obligation, the financial services provider (fsp) payment undertaking and the use of electronic records.

The Influence of Delayed Payment Obligation on Purchase Decision of Household: Evidence from Nigerian Data

The purpose of this study is to examine how delayed payment obligation influences household purchase decision in Nigeria. Unlike the large of existing studies, this study used binary regression model estimation and draws a dataset of 2019 General Household Survey with sample size of 2911 household for the analysis. The stylized facts from the dataset revealed more share of rural household than their counterparts in urban household. Interestingly, the results show that delayed payment obligation is positive and significantly influence purchase decision of household in Nigeria. But when the household is disaggregated into rural and urban household, the result shows that some household that barrowed from friends and family and household that reduced food consumption expenditure have positive and significant influence on purchase decision in both rural and urban household while household that received assistance from friends and family has positive and significant influence on purchase decision by rural household. This study recommends delayed payment obligation for important factor to drive purchase decision by household. This could be achieved through policy formulation that will promote delayed payment obligation.

The Re-Narrate the Relevance of Justice in Debtor Protection Related to the Parate Execution Carried Out by Separatist Creditors

The existence of Articles 55 and 56 of Act No. 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations, the position of debtor protection in the implementation of bankruptcy carried out by separatist creditors against creditors is weak. This is due to the absence of legal remedies that can be taken by debtors during bankruptcy has been found to have happened to him. Therefore, it is necessary to have a disposition of justice in protecting debtors from the rights of separatist creditors. The implementation of bankruptcy as referred to in Article 55 and Article 56 of Act No. 37 of 2004 has not been fair to the debtor, considering that the two articles are only based on the existence of debt from the debtor and are related to the position of solvent or insolvency based on the creditor's view. This is clearly the case because Act No. 37 of 2004 does not adhere to a balance sheet test system where before being declared bankrupt, it is necessary to test the condition of the debtor whether it is really insolvent or actually still solvent. 2) The factors that have resulted in bankruptcy law so far have not been fair to debtors are legal factors, namely in the form of the provisions of Article 55 and Article 56 of Act No. 37 of 2004 which are unfair to debtors. The law even though is widely known that the door to justice in bankruptcy cases is the judge's decision. 3) It is necessary to reconstruct Article 55 and Article 56 of Act No. 37 of 2004. So that the provisions of Article 55 and Article 56 of Act No. 37 of 2004 read: Article 55 of Act No. 37 of 2004: 1) Due to observance of the provisions as referred to in Article 56, Article 57, and Article 58, each Creditor holding a lien, fiduciary guarantee, mortgage, mortgage, or other collateral right, may exercise his rights as if there had been no bankruptcy.

RESTRUKTURISASI UTANG PT GARUDA INDONESIA, Tbk. SEBAGAI UPAYA PENUNDAAN KEWAJIBAN PEMBAYARAN UTANG KEPADA KREDITUR

PKPU has a goal to improve the company from an economic standpoint and the company's ability as a debtor to make a profit, with this step it is hoped that the company can pay off its obligations. Settlement is not defined by Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations (hereinafter referred to as the Bankruptcy Law and PKPU). However, in this case the general understanding is as normalized in Article 222 of the Bankruptcy Law and PKPU that in principle the reconciliation plan includes an offer to pay part or all of the debt to creditors. In bankruptcy and PKPU cases, all creditors and debtors have the opportunity to submit a peace plan which can be part of a debt restructuring. SOEs have a responsibility in the problems being faced by PT Garuda Indonesia, Tbk. PT Garuda Indonesia, Tbk. is unable to pay its debts to creditors because of the equity of PT Garuda Indonesia,Tbk. recorded negative. The enormous debt made PT Garuda Indonesia, Tbk. choose to do debt restructuring even though the path chosen has a risk of bankruptcy. Even though PT Garuda Indonesia, Tbk. is experiencing financial problems. continue to run its business, this is in line with the principle of business continuity as normalized in 240 of the Bankruptcy Law and PKPU.

EKSEKUSI JAMINAN BERDASARKAN UNDANG-UNDANG NOMOR 37 TAHUN 2004 TENTANG KEPAILITAN DAN PENUNDAAN KEWAJIBAN PEMBAYARAN UTANG

The background of this research is that the imposition of a postponement of debt payment obligations makes it easier for debtors to continue paying their debts and there are also legal consequences of delaying debt payment obligations. The purpose of this study is to understand the implementation of suspension of debt payment obligations and the legal consequences of confiscation status and execution of guarantees based on Law Number 37 of 2004 concerning Bankruptcy and Suspension of Payment of Debt Obligations. This study uses a normative method by analyzing problems with laws and related literature. The conclusion of this study is that the imposition of postponement of debt payment obligations only applies to concurrent creditors. The legal consequences of delaying debt payment obligations for confiscation status and execution of collateral have been regulated in Article 246 of Law Number 37 of 2004 concerning Bankruptcy and Suspension of Obligations for Debt Payment that the suspension of confiscation and execution of collateral applies during the process of delaying debt payment obligations so that the status of confiscation and execution of guarantees during the postponement of debt payment obligations to be postponed.

Vertical taxing rights and tax compliance norms

This paper investigates the effects of multi-layer tax arrangements on tax compliance norms and behaviours of individuals in 49 Latin American and African countries. To date, the literature on tax compliance predominantly portrays the government-taxpayer relationship as bilateral. In practice, however, taxpayers have multiple payment obligations and often towards more than one tier of government. This paper argues for the consideration of multi-level tax arrangements in cross-country empirical enquiries on tax compliance norms and behaviours. It draws from the existing literature to posit that the vertical decision structure on tax matters by different government layers could influence tax compliance through, for instance, altering enforcement parameters, affecting compliance costs or shaping the fiscal exchange between citizens and the State through elements of trust, perception of public accountability and redistribution, and public utility. The empirical findings suggest that assigning taxing rights and discretionary powers on tax administration to subnational governments lower tendencies of compliance. The paper confirms the overarching hypothesis that inter-governmental tax arrangements matter for understanding tax compliance norms. The results are robust to multiple specifications, including the use of instrumental variables to address endogeneity concerns.

Constitutional Court Decision Number 23/PUU-XIX/2021: Analysis of Judges' Considerations Is It Permissible to Take Cassation Against Decisions to Postpone Debt Payment Obligations?

ABSTRACT Purpose: This study aims to analyze the impact of the Constitutional Court's Decision Number 23/PUU-XIX/2021 regarding the permissibility of cassation in the Suspension of Debt Payment Obligations (PKPU). Methodology: The research method used by the researcher was a normative research method by reviewing statutory regulations and related legal materials. Results: The judge's consideration in the Constitutional Court's Decision Number 23/PUU-XIX/2021 is the permit of a cassation legal action against the decision on PKPU submitted by the creditor and the rejection of the offer of reconciliation from the debtor so that the court's decision on the PKPU application submitted by the creditor can be corrected as part of the control mechanism over court decisions at lower levels. However, with this decision, it is necessary to immediately issue implementing regulations regarding the mechanism for submitting PKPU and to control the good faith of creditors, so they do not actually injure. This is because the existence of debtors becomes a part of business actors playing a role in maintaining economic stability, so business continuity is sustained and is not misused. That being said, the legal certainty of the PKPU instrument can definitely be realized in accordance with the spirit of Law 37/2004, which is to provide legal protection for business actors. Applications of the study: It is expected that the legal certainty of the PKPU instrument can definitely be realized in accordance with the spirit of Law Number 37 of 2004, which is to provide balanced legal protection between debtors and creditors. Novelty/Orginalty of this study: This research is conducted due to the decision of the Constitutional Court Number 23/PUU-XIX/2021 that has recently been issued, the author analyzed the impact of the issuance of the decision on creditors and debtors. Keywords: Judges' Considerations, Decisions, Constitutional Court, PKPU

FX swaps and forwards in global dollar debt: “Known knowns” and “known unknowns”

Several types of FX derivatives involve the exchange of principal, making them a form of collateralised loan. But unlike other forms of collateralised borrowing, the payment obligations associated with such derivatives are not reported on the balance sheet: they are in a very real sense “missing debt”. This introduces gaps in the compilation of countries’ and sectors’ foreign currency positions, in particular their short-term US dollar obligations and receipts. When economic shocks occur, policies designed to restore the flow of dollar liquidity outside the United States (eg central bank swap lines) are blind to the scale of dollar liquidity needs in particular locations. This paper presents evidence that the missing dollar debt of banks and non-banks outside the United States is large, roughly double the dollar debt recorded on their balance sheets. It then reviews how well benchmark statistical collections – BIS international banking statistics (IBS), BIS OTC Derivatives (OTCD) statistics, International Investment Position (IIP) statistics, and the Coordinated Portfolio Investment Survey (CPIS)) – capture foreign currency positions, both on- and off-balance sheet, and where modifications to these statistics could help to close data gaps.

A Critical Evaluation of the Use of Sanctions Clauses in Letters of Credit

With the sharp increase in sanctions-related compliance requirements and expectations over the last decade, banks have sought various methods to mitigate the legal risk of engaging sanctioned persons or entities. The inclusion of so-called sanctions clauses in commercial contracts is one such method. In this article the author explores the use of sanctions clauses specifically in letters of credit, a practice which appears to be gaining ground. More particularly, the article explores the issues associated with the non-documentary nature of sanctions clauses, as well as the question whether the mandate given by the issuing bank to the nominated bank in respect of a letter of credit containing a sanctions clause meets the requirements of a valid contract. The author contends that sanctions clauses militate against conventional letter-of-credit practice and seriously undermine the irrevocable nature of the issuing bank's payment obligations. This is especially the case when a reference is made in a sanctions clause to internal sanctions policies or a discretion of the issuing bank in relation to honouring the credit. Consequently, banks would be well-advised not to use sanctions clauses, but if contemplated, then a reference to internal policies or a discretion of the issuing bank must be avoided at all costs. This much is in alignment with the views of leading international organisations.

ЕКОСИСТЕМНІ ПЛАТЕЖІ ЯК ІНСТРУМЕНТ РЕАЛІЗАЦІЇ ЕКОСИСТЕМНОГО ПІДХОДУ В УПРАВЛІННІ ПРИРОДОКОРИСТУВАННЯМ

Зростання екологічних загроз і виснаження природних ресурсів мотивують до перегляду наукових концепцій взаємодії суспільства з природою. Одночасно в економіку природокористування поступово впроваджується екосистемний підхід, теоретико-методологічні засади якого в Україні ще належним чином не сформовано. З огляду на це, обґрунтовано особливості трансформації сучасного механізму природокористування шляхом упровадження екосистемного підходу з використанням основного його економічного інструменту – екосистемних платежів. Екосистемний підхід до природокористування – напрям в управлінні, який забезпечує врахування при плануванні й здійсненні будь-яких заходів природокористування складних біологічних відносин усередині екосистеми, природні ресурси якої експлуатуються; усвідомлення цінності цих відносин завдяки їх спроможності позитивно впливати на стан, продуктивність екосистеми і виконання нею важливих екологічних функцій. Ієрархічну структуру процесу впровадження екосистемного підходу в практику управління природокористуванням відображають керівні принципи Конвенції про біологічне різноманіття, які з науково-практичної точки зору доцільно розділяти на організаційно-економічні та еколого-економічні. Екосистемні платежі – це платежі за використання, невикористання ресурсів або послуг екосистеми, відшкодування її забруднення чи деградації; усі платежі, що здійснюються в межах екосистемного підходу і мають на меті захист, збереження екосистем, раціональне використання їх ресурсів та підвищення ефективності функцій. Вони включають обов’язкові платежі за використання ресурсів екосистем, їх забруднення, виснаження або деградацію; компенсаційні платежі, які держава сплачує громадянам за використання їх екосистем або фермерам за невикористання ними екосистем чи використання на умовах упровадження нових технологій; платежі за екосистемні послуги; еквівалентні платежі. Критеріями визначення типу платежів є їх добровільність; належність бюджету, за рахунок якого вони сплачуються; переважання екосистемної цінності над ринковими інтересами; сутність платежу; можливість регулювання за допомогою цивільних договорів, відтермінування платежу і зміни його розміру; залежність платежу від результатів господарської діяльності; обопільність вигоди.

Agricultural Indebtedness and Livelihood Diversification in Uttar Pradesh: A Study of the Eastern and Bundelkhand Regions

The study aims to address the issue of indebtedness among agrarian households and the associated livelihood diversification using the cases of the Eastern and Bundelkhand regions of Uttar Pradesh. It raises the following broad questions: What is the nature and extent of the debt burden experienced by the farmer households of the study areas? How do these households diversify their livelihood strategies? And what explains the livelihood outcomes of these households? It is argued that the skewed distribution of productive resources in the study regions leads to various kinds of interlinked transactions among agrarian classes in the context of production and exchange. Such interlinkages are essentially exploitative, resulting in lower crop productivity and lower returns from cultivation. In the face of lower returns from cultivation, farmers are compelled to take recourse to borrowing. The majority of these borrowings, especially by the poorer classes, are from informal sources, exposing them to usurious extortions at the hands of money lenders, traders and rich peasants/farmers, leading to difficulties in meeting payment obligations and, finally, to indebtedness. The higher debt burden has resulted in an increased livelihood diversification by agrarian households in recent years, mostly to the informal sector. We term it forced livelihood diversification, because such diversification is not the natural outcome of a development process but is forced upon the peasantry because of the non-viability of cultivation.

Analisis Alternatif Restruturisasi Utang Atau Penutupan Perusahaan Pada Pandemi Covid-19 Melalui Pkpu, Kepailitan dan Likuidasi

The COVID-19 pandemic situation has caused the destruction of economies throughout the world, including Indonesia. The negligence of the debtor due to the COVID-19 pandemic can be used as a reason to apply for a postponement of debt obligations. Due to the Covid-19 pandemic which disrupts the financial stability of the debtor, so that the debtor cannot pay off his debt or is negligent to the creditor, he can apply for a suspension of debt payment obligations. On the basis of the covid-19 pandemic, that the impossibility of carrying out the contract in the form of financial incapacity. UUK & PKPU provide legal protection to debtors in the midst of the covid-19 pandemic so they don't fall into bankruptcy through PKPU as stipulated in article 222 of the UUK & PKPU. The type of research used is normative legal research. The practice of paying debts through applications for postponement of debt payment obligations (PKPU) based on Law No. 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations, which starts from the procedure for submitting a PKPU application, temporary PKPU, publication of PKPU decisions, receipt of invoices, making a list of temporary receivables, implementation of the reconciliation meeting for the preparation of a list of permanent receivables, a discussion meeting on the reconciliation plan which includes restructuring of offers to creditors related to the reconciliation plan. The postponement of debt payment obligations (PKPU) is not enough to provide an opportunity for debtors with good intentions to carry on their business. Because the peace process is determined by the creditor, the UUK & PKPU require a reconciliation process with the approval of the creditor. The rules of Article 229 UUK & PKPU give full power to creditors, this causes debtors to depend on the decisions of creditors.

Analisis Hukum Penyelesaian Sengketa Kepailitan Syariah di indonesia

After the issuance of the Constitutional Court Decision Number 093/PUU-X/2012, the quo vadis regarding the dualism of the authority to settle sharia economic disputes has ended. The Religious Courts are legally constitutional as the only institution authorized to resolve sharia economic disputes through litigation. However, this authority is not fully implemented, there are still other sharia economic disputes whose resolution is decided by the Commercial Court within the scope of the General Courts, namely bankruptcy disputes and PKPU (Debt Payment Obligations Suspension) in Islamic financial institutions. So after the decision of the Constitutional Court Number 93/PUU-X/2012, the litigation resolution of sharia banking disputes is handled by the Religious Courts, while non-litigation is handled by arbitration and other alternative dispute resolutions. Arbitration in this case is the National Sharia Arbitration Board (BASYARNAS) while other alternative dispute resolutions are resolved through dispute resolution agreements based on good faith.

Legal Liability of the Liquidator for Settlement of Assets and Legal Entity Status due to the Dissolution of the Limited Company

A limited liability company has legal responsibility for all consequences arising from legal actions taken during the company’s activities. When a limited liability company is dissolved, it must carry out various settlements and responsibilities which is called a liquidation process. The liquidation process begins with the determination of the Extraordinary General Meeting of Shareholders’ (GMS)’s decision, which will then be continued with the completion of the company by registering, and disbursing the company’s assets which are distributed to parties entitled to own shares. And deletion of company status. During the liquidation period, a person will be appointed as a liquidator as a person who has the right to lead and carry out the settlement process until the legal entity status ceases. The liquidator also has responsibilities for the payment of payment obligations and third settlements that must be made as well as other settlements that need to be made during the current period. However, in fact, many do not understand the legal sanctions for the dissolution of a limited liability company and the consequences of not carrying out the liquidation stage. The purpose of this study is to explain the legal consequences of the dissolution of the company and the obligations of the liquidator in managing assets and legal status in this company, the liquidator has an important role in the process. From disbandment. Therefore, it is necessary to study how the liability of the liquidator in the stage of property settlement and the abolition of the legal entity status in the limited liability company is dissolved. This research’s method is descriptive qualitative which describes the phenomena that occur then analysis and security.
 Keywords: dissolution, limited liability company, liability, liquidator