Today’s Legal Enlightenment (Wednesday, 19 October 2022) – SHARES PLEDGE AGREEMENT IS AN ACCESSOIR AGREEMENT
The shares pledge agreement is an accessoir agreement. Accessoir, meaning that the validity of pledge rights on shares depends on the presence or absence of the master agreement or accounts payable, meaning that if the loan agreement is valid, then the shares pledge agreement as an additional agreement is also valid. On the other hand, if the loan agreement is invalid, then the share pledge agreement is also invalid.”
→ Supreme Court Decision No.115 PK/PDT/2007 jo. Central Jakarta District Court Decision No. 517/PDT.G/2003/PN.JKT.PST.
Source:
Legal Explanation on the Execution of Pledge of Shares, Suharnoko – Kartini Muljadi.
Best regards,
Fredrik J. Pinakunary