Analysis of The Application of The Business Judgment Rule Principle in The Management of a State-Owned Company on Corruption Allegations (Study of Supreme Court Decision Number 121 K/ Pid .Sus/2020)
DOI:
https://doi.org/10.30659/rlj.5.3.3540-3558Keywords:
Business Judgment Rule, Criminal Act of Corruption, Directors of State-owned Enterprise (SOE), Legal Protection.Abstract
Business Judgment Rule is a doctrine that is a standard in Company law, in the form of teachings for the Board of Directors in managing the risk of loss due to business decisions so that any losses incurred are not immediately held personally accountable by the Board of Directors. The Business Judgment Rule is a legal protection for the Board of Directors when the business decisions they make result in losses. The Board of Directors can avoid personal liability if they can prove that the losses incurred were not their fault and can prove that the management of the company has been carried out responsibly, in good faith, and without any conflict of interest. The research method of this thesis is a normative legal research method, by reviewing laws and regulations, jurisprudence and library materials.This study analyzes Supreme Court Decision Number 121 K/Pid.Sus/2020, which acquitted the former President Director of Pertamina from corruption charges, and analyzes the application of the Business Judgment Rule to Pertamina Directors business decision in acquiring the management rights of the Block Manta Gummy (BMG) oil block in Australia. This research originated from a case in which a business decision made by the Board of Directors of PT Pertamina (Persero) resulted in financial losses in the form of asset depreciation. However, the District Court and the High Court considered these losses to constitute a criminal act of corruption. This differed from the Supreme Court's cassation decision, which held that the losses were not the result of corruption but rather constituted a business risk and therefore did not amount to a criminal offense. The results of this study demonstrate that the Directors were able to avoid corruption charges because they had applied the principles of the Business Judgment Rule in making their business decisions and had managed the company in accordance with statutory regulations, responsibly, in good faith, without conflicts of interest, and by implementing Good Corporate Governance principles. Likewise, in Supreme Court Decision Number 121 K/Pid.Sus/2020, the judges, in their legal considerations, rendered a verdict of release from all legal charges (ontslag van alle rechtsvervolging) regarding the corruption allegations because the panel of judges judged that the losses incurred did not constitute a criminal act of corruption but rather business risks that may arise in business management. Furthermore, any errors in making business decisions that result in losses cannot automatically be categorized as corruption offenses, but rather as business risks within the application of the Business Judgment Rule, and therefore do not constitute criminal acts.
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