Restructuring of Indonesian Limited Liability Companies: A Proposed Solution to Mitigate the Economic Impact of the Pandemic

The recent Coronavirus outbreak has rapidly developed into a global threat. With the declaration of the COVID-19 as a global pandemic by the WHO, the crippling effects of the outbreak on the economies are unfathomable. The effect of the large-scale social restrictions that limit both individuals’ activities and goods movement have resulted in the temporary closure of businesses and disruption in the operation and supply chains of businesses in Indonesia. As a result, many businesses are currently struggling to survive, dealing with cash-flow deficit and liability problems, while the COVID-19 outbreak remains very much active.

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