Strengthening Financial Management

Oct 13, 2025 by wbrum.org 11 views

The Dissolution of PT Kertas Leces (Persero) after the Decision of the Bankrupt Statement based on Government Regulation Number 9 of 2023

Introduction

The dissolution of PT Kertas Leces (Persero) is a significant step taken after the decision of the bankrupt statement issued by the court. This decision not only had an impact on the company itself but also gave extensive legal consequences for State-Owned Enterprises (BUMN) in Indonesia. As a representation of the implementation of Article 33 of the 1945 Constitution, BUMN has a strategic position in the economy and welfare of the people. However, like other business sectors, BUMN also faces challenges, one of which is bankruptcy. In this context, it is essential to understand the legal consequences of BUMN bankruptcy decisions and the comparison of the law between the dissolution of ordinary companies (PT) and the company.

Legal Consequences from BUMN Bankruptcy Decisions

The decision to declare bankruptcy to SOEs such as PT Kertas Leces has a number of legal consequences. First, the BUMN lost the right to control bankruptcy assets, so that all matters of assets relating to bankruptcy will be managed by the designated curator. Second, as a shareholder, the state is responsible for losses suffered by SOEs only limited to the value of assets that have been separated for the SOE. This confirms the principle of limited responsibility in BUMN operations.

In this situation, creditors are entitled to pay their debt based on the principle of Pari Passu Prorata Parte, which means that all creditors have the same right to receive payments from bankruptcy assets. Finally, in the dissolution process, BUMN must follow the procedures set in accordance with applicable regulations. This shows that even though it is in a state bankruptcy, legal and administrative processes must still be followed.

Comparison of PT and Persero's Dissolution Law

From a legal point of view, the dissolution of PT and Persero has a significant difference. The PT dissolution process was carried out through a General Meeting of Shareholders (GMS) and court decisions, while for the company's company, the process was more centered because the decision was in the hands of the Minister of BUMN as the majority shareholder. In other words, in the case of the dissolution of PT, there are more involvement of shareholders, while for the Persero, decisions can be taken by the government without the need to involve the GMS.

The Process of Dissolution of PT Kertas Leces (Persero)

The dissolution of PT Kertas Leces (Persero) was carried out because the company was bankrupt and in insolvention. Through Government Regulation Number 9 of 2023, the President regulates the dissolution process which includes several important stages. The stages start from the announcement of dissolution, registration of assets and obligations, reports on liquidation results, to notification to the Minister of Law and Human Rights regarding the end of the company's legal status.

Preventive Action to Avoid Bankruptcy

It is essential for the government to take anticipatory steps so that BUMN is not trapped in a bankruptcy situation that results in dissolution. Some steps that can be taken include strengthening financial management, increasing operational efficiency, and innovation in products and services. Through this preventive action, it is expected that the sustainability and contribution of SOEs to the country's economy can be maintained, so as to provide greater benefits for the community.

Conclusion

By understanding and analyzing the situation faced by PT Kertas Leces (Persero), we can attract valuable lessons for the management of SOEs in the future to continue to function effectively and avoid the risk of bankruptcy. The dissolution of PT Kertas Leces (Persero) serves as a reminder of the importance of effective management and the need for anticipatory steps to prevent bankruptcy. As the government continues to play a crucial role in the management of SOEs, it is essential to prioritize the sustainability and contribution of these enterprises to the country's economy.

Recommendations

Strengthening Financial Management: The government should prioritize strengthening financial management in SOEs to ensure that they are able to operate effectively and avoid bankruptcy.
Increasing Operational Efficiency: SOEs should focus on increasing operational efficiency to reduce costs and improve productivity.
Innovation in Products and Services: SOEs should prioritize innovation in products and services to stay competitive and meet the changing needs of the market.
Regular Monitoring and Evaluation: The government should regularly monitor and evaluate the performance of SOEs to identify areas for improvement and take corrective action.

Future Research Directions

Comparative Study of BUMN and Private Sector Companies: A comparative study of BUMN and private sector companies can provide valuable insights into the challenges faced by SOEs and the strategies that can be employed to improve their performance.
Impact of Government Regulation Number 9 of 2023: A study on the impact of Government Regulation Number 9 of 2023 on the dissolution of PT Kertas Leces (Persero) can provide valuable insights into the effectiveness of the regulation and the challenges faced by SOEs in implementing it.
Best Practices in SOE Management: A study on best practices in SOE management can provide valuable insights into the strategies that can be employed to improve the performance of SOEs and avoid bankruptcy.

Limitations of the Study

Limited Scope: The study focuses on the dissolution of PT Kertas Leces (Persero) and may not be representative of all SOEs in Indonesia.
Limited Data: The study relies on secondary data and may not have access to primary data on the performance of PT Kertas Leces (Persero).
Limited Time Frame: The study focuses on the dissolution of PT Kertas Leces (Persero) and may not capture the long-term impact of the decision on the company and its stakeholders.
Frequently Asked Questions (FAQs) about the Dissolution of PT Kertas Leces (Persero)

Q: What is the reason for the dissolution of PT Kertas Leces (Persero)?

A: The dissolution of PT Kertas Leces (Persero) was carried out because the company was bankrupt and in insolvention. The decision was made in accordance with Government Regulation Number 9 of 2023, which regulates the dissolution process of SOEs.

Q: What are the legal consequences of the dissolution of PT Kertas Leces (Persero)?

A: The dissolution of PT Kertas Leces (Persero) has several legal consequences, including the loss of control over bankruptcy assets, limited responsibility of the state as a shareholder, and the right of creditors to pay their debt based on the principle of Pari Passu Prorata Parte.

Q: How does the dissolution of PT Kertas Leces (Persero) differ from the dissolution of ordinary companies (PT)?

A: The dissolution of PT Kertas Leces (Persero) differs from the dissolution of ordinary companies (PT) in that the process is more centered on the decision of the Minister of BUMN as the majority shareholder, whereas the dissolution of PT is carried out through a General Meeting of Shareholders (GMS) and court decisions.

Q: What are the stages of the dissolution process of PT Kertas Leces (Persero)?

A: The stages of the dissolution process of PT Kertas Leces (Persero) include the announcement of dissolution, registration of assets and obligations, reports on liquidation results, and notification to the Minister of Law and Human Rights regarding the end of the company's legal status.

Q: What are the preventive actions that can be taken to avoid bankruptcy?

A: Preventive actions that can be taken to avoid bankruptcy include strengthening financial management, increasing operational efficiency, and innovation in products and services.

Q: What are the recommendations for the government to improve the management of SOEs?

A: The recommendations for the government to improve the management of SOEs include strengthening financial management, increasing operational efficiency, and innovation in products and services, as well as regular monitoring and evaluation of the performance of SOEs.

Q: What are the future research directions for the study of SOEs?

A: The future research directions for the study of SOEs include a comparative study of BUMN and private sector companies, the impact of Government Regulation Number 9 of 2023, and best practices in SOE management.

Q: What are the limitations of the study?

A: The limitations of the study include a limited scope, limited data, and a limited time frame.

Q: What are the implications of the study for the management of SOEs?

A: The implications of the study for the management of SOEs include the need for effective management, anticipatory steps to prevent bankruptcy, and regular monitoring and evaluation of the performance of SOEs.

Q: What are the recommendations for future research on SOEs?

A: The recommendations for future research on SOEs include a more comprehensive study of the challenges faced by SOEs, the impact of government regulations on SOEs, and the best practices in SOE management.

Q: What are the conclusions of the study?

A: The conclusions of the study are that the dissolution of PT Kertas Leces (Persero) serves as a reminder of the importance of effective management and the need for anticipatory steps to prevent bankruptcy, and that the government should prioritize the sustainability and contribution of SOEs to the country's economy.