Restructuring as an Option for Indonesian Limited Liability Companies to Mitigate the Impact of COVID-19 Outbreak [Brought to you by AZP]
BY AZP Legal Consultants |
The first case of Corona Virus Disease 2019 (“COVID-19”) in Indonesia was confirmed in early March of 2020. Since then, due to the rapid spread of COVID-19 among the Indonesian people, the Government of Indonesia (“GoI”) has issued new regulations as part of its efforts to stop the COVID-19 outbreak within the country, inter alia, (i) the Presidential Decree No.11 of 2020 concerning the Determination of Public Health Emergency regarding COVID-19 on 31 March 2020; (ii) the Government Regulation No. 21 of 2020 concerning Large-Scale Social Restrictions for Acceleration in the Handling of COVID-19 on 31 March 2020; and (iii) the Minister of Health Regulation No. 9 of 2020 concerning Guidelines on the Large-Scale Social Restrictions for Acceleration in the Handling of COVID-19 on 3 April 2020.