Seminar on Legal Aspect and Legal Consequences of Special Purposes Vehicle Establishment
Field Study of Civil Law Faculty of Law, Universitas Indonesia held One-Day Conference & Panel Discussion “Legal Aspects and Legal Effects of Establishing a Special Purposes Vehicle” on Wednesday, October 3, 2018 at the Djokosoetono Convention Center FHUI, UI Depok Campus.
In this activity there were two panel discussions which presented 8 speakers. The eight speakers were Dr. Akhmad Budi Cahyono, SH, MH (Lecturer in Civil Law FHUI), Wenny Setiawati, SH, LL.M (FHUI Corporate Law Lecturer), Adi Yulistanto, SH, MH (Legal Practitioner), Ashoya Ratam, SH, M.Kn. M.Sc. (Capital Market Notary in Jakarta and Lecturer of FHUI Corporate Deed Making Techniques), Dr. Yunus Husein, SH, LL.M. (FHUI Banking Law Lecturer), Dr. M. Idris F. Sihite, SH, MH (Attorney General and Lecturer at the Criminology Department of FISIP UI), Didi Setiarto, SH (Head of Legal Consideration and Formality of SKK Migas / Main Expert Staff of the President’s Staff Office) and Imam Muhasan, SH, MH, Ak., CA. (PKN STAN Tax Department Lecturer).
The purpose of this activity is to provide information to the seminar participants regarding the development of Special Purposes Vehicle, in terms of legal aspects that need to be considered related to the establishment, examples of areas of work in legal traffic in Indonesia, a review of the tax sector, and an understanding of SPV practices that violate the law.
This seminar is about the implementation of Special Purposes Vehicle in legal traffic in Indonesia. Special Purposes Vehicle (SPV) is essentially a breakthrough in the financial sector, which is a special vehicle used by a business entity for a specific purpose. There is no specific standard definition regarding this SPV term, but in practice as a whole, SPV is established as a subsidiary with business activities that are limited to certain asset financing activities and as a method to mitigate the company’s risk in financial traffic. This institution is called Special Purposes Vehicle because its establishment is specifically aimed at protecting its parent company from the risks that might arise in financial activities. SPV is a legal entity that is separate and has assets, rights and obligations, as well as different legal status from its parent company and specifically aims to protect the parent company from risks such as bankruptcy problems. Therefore, SPV is often referred to as a special purpose entity or a special purpose vehicle.
