Directors’ and Commissioners’ Liability in Corporate Insolvency: A Comparative Jurisprudential Study

Danang Eka  Saputra; Didit Darmawan; Dharma Setiawan   Negara

Authors

Danang Eka Saputra University of Sunan Giri Surabaya
Didit Darmawan University of Sunan Giri Surabaya
Dharma Setiawan Negara University of Sunan Giri Surabaya

Keywords:

directors’ liability, commissioners’ liability, insolvency, good corporate governance, piercing the corporate veil, limited liability company, comparative law

Abstract

- The board of directors and commissioners play a strategic role in corporate governance, particularly in addressing insolvency risks. This study aims to analyze the liabilities of directors and commissioners in corporate insolvency cases under Indonesian statutory law and to compare these duties with legal frameworks in several other jurisdictions, including Germany, Japan, and the United Kingdom. The research employs a normative legal method with statutory and comparative approaches. Findings indicate that, in Indonesia, directors’ liabilities are governed by Law No. 40 of 2007 concerning Limited Liability Companies, which prescribes personal liability where negligence results in losses to the company or third parties. Although commissioners function as supervisory officers, their obligations are more limited than those of directors. In developed jurisdictions, application of the doctrine of piercing the corporate veil tends to strengthen accountability for directors and commissioners, including within insolvency law. The study recommends that Indonesia fortify its regulatory framework and enforcement mechanisms to strike a better balance between stakeholder protection and responsible corporate management. This research contributes both academically and practically to the development of a more transparent and accountable corporate law regime, particularly in the context of insolvency challenges.

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