Company Wind Up in Indonesia
Liquidation, or the winding up of a company, is a process during which a company’s assets are seized and realized – that is, converted into cash. This money is typically then used to pay off the company’s debts and liabilities.
The process ensures a fair distribution of a company’s assets between its creditors, members, and shareholders, and results in the termination of the company’s existence once all debts and liabilities have been paid.
Pursuant to Article 142 par. (1) of Law no. 40 Year 2007 regarding Limited Liability Law, liquidation may happen due to:
A decision made in a General Meeting of Shareholders (“GMS”);…
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