If these conditions are not met, the dissolution will not be binding on third parties, and the liquidator will be equally and severally accountable with the Company for any losses suffered by third parties.
2. Creditor’s claims
Creditors have 60 days from the date of the notification of the Company’s dissolution in the newspapers and the State Gazette of the Republic of Indonesia to register their claims.
3. Reporting of the liquidation results
The liquidator must submit the outcomes of the liquidation to the GMS or the court (as applicable). This responsibility also applies to the receiver if the receiver is in charge of the liquidation process; in such instance, the receiver must report the liquidation outcomes to the supervising judge (hakim pengawas).
4. Announcement and notification concerning liquidation results
After the GMS, court, or supervisory judge ratifies the liquidation results (discharge and acquitted the liquidator, or the court accepts the accountability report of the liquidator appointed by it), a notification of the liquidation results must be sent to the MoLHR and published in the newspaper within 30 (thirty) days of the ratification of the liquidation results.
5. Recording of the expiration of the legal entity status of the Company
After the announcement in the press and communication to MOLHR regarding liquidation outcomes have been met, the Minister shall record the expiration of the Company’s legal entity status and delete the Company’s name from the Companies Registry.
6. Announcement of the expiration of the legal entity status of the Company
The Minister shall announce the expiration of the Company’s legal entity status in the State Gazette of the Republic of Indonesia.