Challenge of the Director of Pertamina in the Implementation of Corporates Independence Principles and the Legal Doctrine Fiduciary Duty
Author(s):
Try Widiyono
Tahun:
2018
Item Type:
Seminar
Keyword(s):
Challenge, Pertamina Board of Directors,
Corporate Independence and Fiduciary Duty
On April 11, 2018 PT Pertamina (Persero) had
acquired State shares in PT National gas Company. Thus
Pertamina has completed corporate action to become Oil and
Gas Holding. Pertamina is a State-Owned Enterprise (BUMN)
in the form of Limited Liability Company which is subject to
Law Number 40 yea... (selengkapnya)
acquired State shares in PT National gas Company. Thus
Pertamina has completed corporate action to become Oil and
Gas Holding. Pertamina is a State-Owned Enterprise (BUMN)
in the form of Limited Liability Company which is subject to
Law Number 40 yea... (selengkapnya)
DESKRIPSI
On April 11, 2018 PT Pertamina (Persero) had
acquired State shares in PT National gas Company. Thus
Pertamina has completed corporate action to become Oil and
Gas Holding. Pertamina is a State-Owned Enterprise (BUMN)
in the form of Limited Liability Company which is subject to
Law Number 40 year 2007 regarding Limited Liability
Company (UPT). In the UPT there is the principle of corporate
independence and legal doctrine Fiduciary duty ie limited
liability company is the cause for the existence (raison d'etre)
of the Board of Directors which gave birth to "fiduciary
duties" for the Board of Directors who must uphold
professionalism and should not be interpolated by other
parties. Based on legal research, normative results were
presented in this paper. There are two principles that intersect
the principle of oil and gas management, it should be used for
the greatest prosperity of the people at the lowest possible
price, so that there is interference of government. On the other
side, the existence of independence Pertamina and Fiduciary
duty law doctrine for Pertamina Board of Directors which
should not be interfered in the management of Pertamina by
anyone including oil and gas pricing. Therefore, the dilemma
for Pertamina's Board of Directors is to harmonize the
company's independence principle and Fiduciary duty's legal
doctrine with the strong interference of the government as the
shareholders in controlling the Pertamina Board of Directors,
because Pertamina's commodity concerns the lives of many
people, especially regarding the distribution and price of oil
and gas. To terminate the dilemma for the Pertamina Board of
Directors and Shareholders for strong allegations of violation
of the doctrine is to amend and/or provide an explanation of
Article 3 of Law no. 40 of 2007 on Limited Liability Company
acquired State shares in PT National gas Company. Thus
Pertamina has completed corporate action to become Oil and
Gas Holding. Pertamina is a State-Owned Enterprise (BUMN)
in the form of Limited Liability Company which is subject to
Law Number 40 year 2007 regarding Limited Liability
Company (UPT). In the UPT there is the principle of corporate
independence and legal doctrine Fiduciary duty ie limited
liability company is the cause for the existence (raison d'etre)
of the Board of Directors which gave birth to "fiduciary
duties" for the Board of Directors who must uphold
professionalism and should not be interpolated by other
parties. Based on legal research, normative results were
presented in this paper. There are two principles that intersect
the principle of oil and gas management, it should be used for
the greatest prosperity of the people at the lowest possible
price, so that there is interference of government. On the other
side, the existence of independence Pertamina and Fiduciary
duty law doctrine for Pertamina Board of Directors which
should not be interfered in the management of Pertamina by
anyone including oil and gas pricing. Therefore, the dilemma
for Pertamina's Board of Directors is to harmonize the
company's independence principle and Fiduciary duty's legal
doctrine with the strong interference of the government as the
shareholders in controlling the Pertamina Board of Directors,
because Pertamina's commodity concerns the lives of many
people, especially regarding the distribution and price of oil
and gas. To terminate the dilemma for the Pertamina Board of
Directors and Shareholders for strong allegations of violation
of the doctrine is to amend and/or provide an explanation of
Article 3 of Law no. 40 of 2007 on Limited Liability Company