Today’s Legal Enlightenment (Thursday, November 18, 2021)-COMPANY DIRECTOR’S PERSONAL RESPONSIBILITIES
The bank provides a loan to a company that has not yet obtained approval as a legal entity from the Minister of Justice. However, in the Notary Deed containing the Bonds with guarantees, it is stated that the debtor acts as a person and as a director of the company who is responsible for repaying the credit. A few years later, the company was approved as a legal entity while the credit was bad. THE EXISTENCE OF APPROVAL AS A LEGAL ENTITY DOES NOT MEAN ABOLISHING THE PERSONAL RESPONSIBILITY OF THE DIRECTOR OF THE COMPANY TO PAY OFF HIS DEBTS because the responsibility for personal settlement has been agreed in the Notary Deed.
Supreme Court Decision No. 520 K/Pdt/1996 dated May 6, 1997
Regards,
Fredrik J. Pinakunary