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Kabiru Adamu, “Enhancing Creditor Protection Rules Under Nigerian Corporate Laws”
Abstract
Credit is the heart of business. Businesses thrive on loans and credit provided by creditors. However, where business fails creditors are at the receiving end and at the mercy of debtors. This leads to loss of capital and the need to protect creditors. Under Nigerian corporate laws the principles of separate legal personality and the concept of limited liability are two legal concepts that form the foundation of modern company law and play a role in creditor protection. These principles transfer risks to creditors which if not protected or regulated may lead to not only harm to the investors but shortage of capital to run the economy. If creditors are left exposed to the vagaries of company law concepts of limited liability and separate legal personality doctrines they stand at a disadvantage position because if the company cannot pay the money it borrows from its creditors, the creditors will lose their money as the shareholders of a company can only be liable to the extent of their shareholdings and the capital they contributed to form the company. This article examines this from the perspective of contractual rights and legislative enactments under the Nigerian Companies and Allied Matters Act (CAMA). The article finds out that the legal regimes on creditor protection in Nigeria are very weak especially when viewed from the provision of the Companies & Allied Matters Act of Nigeria (CAMA). The article concludes by pointing out that there exist gaps in our legislations which need to be enhanced so as to remove the clog in the wheel of corporate law and practice in Nigeria dealing with protection of creditors.
Asril Sitompul, “Impact of Globalization, International Agreement and Technology Convergence on Telecommunications Law Reform (The Case of Indonesia)”
Abstract
In the era of globalization telecommunications market is dominated by economic powerful countries. The concept is global capitalism where international entities operated and entered into developing countries, intervened domestic policies and facilitated the entrance of MNC supported by World Bank, IMF and WTO. The GATS Annex required Indonesia to open telecommunications sector. Indonesian telecommunications sector entered the global business competition by leaving the monopoly and control of the government through ownership. The new multilateral agreement related to telecommunications is the TPP Agreement, if Indonesia decided to join the TPP Agreement, it is necessary to consider all matters related to the benefit and loss of joining the agreement, so it will not only to open Indonesia as a big market of goods and services supplied by dominant member states. Development of technology in telecommunications, computer, and Internet. Convergence of telecommunications and information technology, computer and communications technology in the Internet, and of media (conduit) and content in cable television, resulted business convergence in regional boundaries and ownership aspect. It all should be concerned by the government in the reform the telecommunications law and regulation.
Lidzikri Caesar Dustira, “The Direction of Indonesia’s Banking Policy in Facing ASEAN Economic Community”
Abstract
Indonesia, together with the other member states, has agreed to establish 2020 ASEAN Community on October 2003. One of its fundamental components includes the enactment of ASEAN Economic Community. Specifically for the banking sectors, on April 2011 the member states have adopted ASEAN Banking Integration Framework, which is mainly designed so as to develop regulatory and policy harmonization as well as to accelerate banking business integration throughout the region. Needless to say, this paper primarily aims to address what efforts should be taken by Indonesia vis-à-vis the banking policy and regulatory regime in the interest of preparing them to enter into the era of effective enforcement of the ASEAN Economic Community. Case in point, Indonesia is required (i) to strengthen their national banking performance in facing the regional integration, (ii) to review and adjust their banking regulations to resolve national interest in facing ASEAN Economic Community, and (iii) to harmonize their banking regulations to be in line with the provisions of ASEAN Banking Integration Framework. As for Indonesian state-owned banks in particular, they also must fortify themselves against the coming tough competition from other member states’ banks. It is also significant for the regulators to set out a clear distinction of the foreign banks’ business in Indonesia. The key ideas are that the foreign banks must also contribute to the development of national financial services industry and be prevented in causing systemic financial risks in the event financial catastrophes occurs.
Zezen Zaenal Mutaqin, “Negative Sovereignty and Positive Sovereignty (Why the Great Powers Invade Outlaw States)”
Abstract
This paper attempts to answer several questions: why a state invades other states? Why a state claims an authority, in the name of civilization, democracy, freedom, security or humanitarian intervention, to enter into other sovereign states? How then it is legalized? Why the doctrine of state sovereignty sometime cannot protect a particular state from the aggression of other states? In answering this question, I will utilize two terms that used to demarcate sovereignty of states: positive and negative sovereignty. It is about ‘sovereign to’ and sovereign ‘from’. I will also use two terms that differentiate two families of nation: the Great Powers and Outlaw States. In this paper I argue that positive sovereignty which usually possessed by the Great Powers tend to make these states to be ‘authoritarian states’, the states which conduct and behave merely based on their interest and not pursuant to international law. Domestically this state can be very democratic and liberal. I will demonstrate that to some extent this behavior is part of the game. Civilizing mission, preemptive security act and humanitarian mission are the common reasons used by these group of states to intervene other sovereign outlaw states. But, this unilateral authoritarian behavior of the Great Powers can be the source of problems for the international order. War on terrorism and the U.S intervention in Iraq will be briefly discussed and used as an example of how the Great Powers utilized their claim in international relations. This paper will firstly discuss the basic concept of positive and negative sovereignty. I will also discuss the idea of the Great Powers and outlaw states and liberal anti pluralism as a policy that can transforms the Great States to be ‘authoritarian state’. This will be followed by discussing the authoritarian behavior of the Great Powers in its relation with other sovereign states.