LEGAL PROTECTION FOR DEFAULTED BONDS BASED ON VALUES OF JUSTICE

International Journal of Business, Economic and Low, Vol. 11, Issue 4 (Dec. 2016), ISSN. 2289-1552

Kamis, 29 Maret 2018 11:38 | Sudah dibaca 312 kali

Legal certainty for businesses is very important at this time because any investor basically wants the security of the investment that has been done. For businesses who often face many challenges and risks, the case of default by the issuer is very detrimental to investors or bondholders. The contractual relationship of the parties in the bond agreement does not reflect the relation that is based on fairness. Contract acts as a forum that brings together the interests of one party with another party to form a fair exchange of interests. In a contract between a bond issuer and an investor, it essentially must be based on basic principles of contract law and theory of justice as a foundation in the contract. Capital Market Law and Kep. Bapepam (Regulation of Capital Markets Supervisory Board) No. 412 that exist today do not provide strong legal protection, especially regarding the guarantees or collaterals provided by the issuer when issuing the corporate bond. Item 4 of Capital Markets Supervisory Board (CMSB) Regulation No. VI.C.4 point e. collaterals (if any) should then be reconstructed into (mandatory), so that form of legal certainty is visible and palpable for the debtors / customers as bondholders. With so, legal protection against bond defaults based on dignified justice will be achieved.

Kata Kunci: Legal Protection, Bonds, Justice