Hasil Pencarian  ::  Simpan CSV :: Kembali

Abstrak :
Dalam rangka memberikan kemudahan kepada Emiten untuk menerbitkan Obligasi dalam beberapa tahap penerbitan, Bapepam-LK mengeluarkan Peraturan Nomor IX.A.15 perihal Penawaran Umum Berkelanjutan yang merupakan lampiran dari Keputusan Ketua Bapepam-LK Nomor : Kep-555/BL/2010 tanggal 30 Desember 2010 yang diubah dengan Peraturan Otoritas Jasa Keuangan Nomor 36/POJK.04/2014 tanggal 8 Desember 2014 tentang Penawaran Umum Berkelanjutan Efek Bersifat Utang Dan/Atau Sukuk (?POJK No. 036?). POJK tidak memberikan batasan tugas/tanggung jawab Wali Amanat selaku wakil pemegang Obligasi. Untuk mengetahui apakah terdapat hubungan tanggung jawab Wali Amanat terhadap Emiten dan pelaksanaan tugas Wali Amanat dalam penerbitan Obligasi melalui Penawaran Umum Berkelanjutan Obligasi dibuatlah penelitian ini. Metode penelitian yang akan digunakan adalah penelitian normatif. Berdasarkan hasil penelitian diketahui bahwa tidak terdapat hubungan tanggung jawab antara Wali Amanat terhadap Emiten. Dalam rangka menjalankan tugasnya untuk melindungi kepentingan para pemegang Obligasi dari setiap Obligasi yang diterbitkan dalam rangkaian Penawaran Umum Berkelanjutan Obligasi, Wali Amanat harus mematuhi peraturan perundang-undangan yang berlaku dan perjanjian terkait penerbitan Obligasi melalui Penawaran Umum Berkelanjutan seperti akta pernyataan Penawaran Umum Berkelanjutan Obligasi dan perjanjian perwaliamanatan.

---

In order to provide convenience to the Issuer to issue Bond in several issuing phase, the Bapepam-LK has issued Regulation No. IX.A.15 regarding Continuous Public Offering which is an annex of the Decision of the Chairman of Bapepam-LK Number: Kep-555 / BL / 2010 dated December 30, 2010, as amended by the Financial Services Authority Regulation No. 36 / POJK.04 / 2014 dated December 8, 2014 on Continuous Public Offering of Debt Securities And / Or Sukuk ("POJK No. 036"). POJK No. 036 does not regulate the limitation of duty or responsibility of Trustee. This research is made to understand is Trustee has responsibility relationship Issuer and implementation of Trustee's duty in Bond issuing through Bond Continues Public Offering. The research method used is normative research. Based on research, there is no responsibility relationship between the Trustee and the Issuer. To conduct his duties in protecting the bondholders from each Bond issued through Bond Continues Public Offering, Trustee shall comply with the legislation in force and agreements related Bond issued through Continuous Public Offering, such as the deed of Declaration of Continuous Public Offering and trustee agreement.

Abstrak :
[ABSTRAK
Wali Amanat adalah pihak yang ditunjuk oleh Undang-undang Nomor 8 Tahun 1995 Tentang Pasar Modal untuk mewakili kepentingan pemegang obligasi. Tugas Wali Amanat ini dapat terganggu apabila terjadi hubungan kredit antara Wali Amanat dengan Emiten dalam jumlah yang cukup besar sehingga dapat mempengaruhi fungsinya dalam melindungi kepentingan pemegang obligasi. Sebagai perlindungan hukum bagi pemegang obligasi, Badan Pengawas Pasar Modal dan Lembaga Keuangan menerbitkan Peraturan Nomor VI.C.3 yang membatasi hubungan kredit antara Wali Amanat dengan Emiten hingga 25% (dua puluh lima perseratus) dari jumlah Efek yang bersifat utang dan/atau Sukuk yang diwaliamanati. Dengan demikian Wali Amanat yang mempunyai hubungan kredit melebihi 25 % (dua puluh lima perseratus) dari jumlah efek yang bersifat utang dan/atau sukuk yang diwaliamanati wajib menunjuk wali amanat pengganti sebagaimana diatur dalam Perjanjian Perwaliamanatan. Metode penelitian yang digunakan adalah metode kualitatif yang menghasilkan data bersifat deskriptif analitis dengan laporan yang menggambarkan (mendeskripsikan) fakta-fakta empiris dengan menggunakan analisa normatif sehingga fakta-fakta tersebut mempunyai makna dan kaitan dengan permasalahan yang diteliti secara rinci dan sistematis dan akhirnya didapatkan solusi hukum berdasarkan data yang diperoleh.

---

ASBTRACT
Trustee is an institution appointed by Law number 8 Year 1995 of Capital Market to represents interest of bondholders. Task of Trustee may be interrupted in case of a credit relationship between Trustee and Issuer in large amount and enough to affect its function in protecting the interests of bondholders. As a legal protection for bondholders, the Capital Market and Financial Institutions Supervisory Agency issued Rule Number VI.C.3 to give limitation of credit relationship between Trustee and Issuer up to 25% (twenty five percent) of the amount of debt securities and/or Sukuk that being trusted. Therefore, trustee who has credit relationship more than 25 % (twenty five percent) of the amount of debt securities and/or sukuk that being trusted obligate to appoint substitution as a trustee according to Trusteeship Agreement. The method of research used in this research is a qualitative method that produces descriptive data analytical reports that describe empirical facts by using normative analysis so that those facts have meaning and connection with the issues studied in detail and systematically and finally obtained the legal solution based on the data obtained., Trustee is an institution appointed by Law number 8 Year 1995 of Capital Market to represents interest of bondholders. Task of Trustee may be interrupted in case of a credit relationship between Trustee and Issuer in large amount and enough to affect its function in protecting the interests of bondholders. As a legal protection for bondholders, the Capital Market and Financial Institutions Supervisory Agency issued Rule Number VI.C.3 to give limitation of credit relationship between Trustee and Issuer up to 25% (twenty five percent) of the amount of debt securities and/or Sukuk that being trusted. Therefore, trustee who has credit relationship more than 25 % (twenty five percent) of the amount of debt securities and/or sukuk that being trusted obligate to appoint substitution as a trustee according to Trusteeship Agreement. The method of research used in this research is a qualitative method that produces descriptive data analytical reports that describe empirical facts by using normative analysis so that those facts have meaning and connection with the issues studied in detail and systematically and finally obtained the legal solution based on the data obtained.]

Abstrak :
Obligasi sebagai surat berharga merupakan Efek sebagaimana yang disebutkan dalam Undang-Undang Pasar Modal dan merupakan bentuk surat bukti utang Emiten kepada kreditur obligasi yang harus dibayar lunas pada saat jatuh tempo. Namun seringkali Emiten tidak membayar lunas obligasi tersebut, baik karena Emiten tidak mampu atau tidak mau membayar maupun karena Emiten sedang dalam proses Kepailitan. Salah satu upaya yang dapat dilakukan Emiten untuk membayar obligasinya adalah dengan mengajukan rencana perdamaian melalui Penundaan Pembayaran Kewajiban Utang PKPU . Rencana perdamaian tersebut dapat berupa Debt to Equity Swap. Dalam penelitian ini akan dibahas mengenai tata cara Debt to Equity Swap terhadap obligasi jenis Non-Convertible dalam rangka perdamaian di PKPU, dan bagaimana kedudukan serta peran Wali Amanat sebagai perwakilan dari Pemegang Obligasi dalam proses Debt to Equity Swap. Bentuk penelitian ini disajikan dalam bentuk kajian yuridis normatif, yang menggunakan metode penelitian berupa tinjauan kepustakaan. Obligasi jenis Non-Convertible yang akan melalui proses Debt to Equity Swap dalam rangka PKPU harus melalui upaya pembatalan atau percepatan waktu jatuh tempo sehingga sebelum obligasi batal atau jatuh tempo, peran Wali Amanat dalam proses Debt to Equity Swap masih akan terus ada untuk mewakili pemegang obligasi. ...... Bonds are categorized as Commercial Paper in Indonesian Capital Market Law. Bonds that also can be caterogiezed as letter of credit has their maturity date which is the time for the Issuer should pay the bonds to the creditos. But however, it rsquo s a common situation that the issuer doesn rsquo t pay the bonds to the creditors when the maturity day come. It can be happened because the issuer doesn rsquo t want to pay, in a condition of insolvency or in the process of bankruptcy. One of the common way to solve the problem for the creditors to get paid of their bonds is through the process of Suspension of Payment by doing Debt to Equity Swap. This Research will emphasize the Juridical Review of Debt to Equity Swap on Non Convertible Bonds that converted into shares in the Event of The Suspension of Payment. This research will be focused on the procedure Debt to Equity Swap of Non Convertible Bonds in the event of The Suspension of Payment, how Trustee as the representative of Bonds Creditors, participate in the event of Debt to Equity Swap. This research will use normative juridical study and literature review methods. Non Convertible Bonds can be converted for Debt to Equity Swap if the Bonds has already delisted in Capital Market Law or have reached their maturity date. The trustee still have to parcipate as the representative of bonds creditors as long as the bonds haven rsquo t been delisted or reached their maturity date.