Kekuatan Perjanjian Pemegang Saham Sebelum Pendirian Perseroan Terbatas Dalam Melindungi Hak Pemegang Saham Minoritas : (Studi Kasus Putusan Mahkamah Agung No.2035 K/PDT/2018)

Julian Radjali; Markoni; Zulfikar Judge; Joko Widarto; Tuti Elawati

doi:10.55681/seikat.v5i5.4152

Authors

Julian Radjali Universitas Esa Unggul
Markoni Universitas Esa Unggul
Zulfikar Judge Universitas Esa Unggul
Joko Widarto Universitas Esa Unggul
Tuti Elawati Universitas Sains Indonesia

DOI:

https://doi.org/10.55681/seikat.v5i5.4152

Keywords:

shareholders agreement, minority shareholders, preventive protection, limited liability company

Abstract

This article analyzes the legal force of a pre-incorporation shareholders’ agreement as a preventive legal protection instrument for minority shareholders in Indonesian limited liability companies. The issue is important because Law Number 40 of 2007 on Limited Liability Companies provides minority shareholder protection, yet most remedies operate after loss or dispute has occurred. This study uses normative legal research with statutory, conceptual, and case approaches, particularly Supreme Court Decision Number 2035 K/Pdt/2018. The findings show that a pre-incorporation shareholders’ agreement is valid and binding upon the parties if it satisfies Article 1320 of the Indonesian Civil Code. Shares to be issued by a company not yet incorporated may become a valid contractual object as future goods under Article 1334 of the Civil Code. However, the agreement does not automatically bind the company after incorporation unless it is ratified, incorporated into the articles of association, or restated after the company obtains legal entity status. Its preventive force depends on clear clauses, including tag-along rights, veto rights, board nomination rights, rights of first refusal, anti-dilution protection, and efficient dispute resolution mechanisms.

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