ANUGRAH, NIQFA RAHMA (2025) PERLINDUNGAN HUKUM BAGI INVESTOR PASAR MODAL ATAS TINDAKAN PENGHAPUSAN PENCATATAN SAHAM (DELISTING) STUDI KASUS: DELISTING SAHAM PT. HANSON INTERNASIONAL TBK (MYRX) AKIBAT DIPUTUSKAN PAILIT. S1 thesis, UNIVERSITAS SULTAN AGENG TIRTAYASA.
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Abstract
The capital market plays an important role in a country's economy as an investment vehicle and a source of funding for companies. However, risks always exist for investors, one of which is the delisting of shares, especially when an issuer is declared bankrupt. This study examines the legal protection for capital market investors in the case of the delisting of PT Hanson International Tbk (MYRX) shares due to a bankruptcy ruling. This research employs a normative juridical method with a statutory and case study approach. The data for this study were obtained from capital market regulations, court decisions on bankruptcy, as well as academic literature and regulations from the Financial Services Authority (OJK) and the Indonesia Stock Exchange (BEI). The findings indicate that delisting due to bankruptcy has a significant impact on retail investors, particularly those who lack access to adequate legal mechanisms for recovering their investments. Legal protection for investors is regulated under Law No. 8 of 1995 on the Capital Market, OJK regulations, and BEI provisions regarding delisting and issuer bankruptcy. However, the implementation of legal protection still faces challenges, particularly in terms of information transparency, access to justice, and compensation mechanisms for affected investors. This study identifies two forms of legal protection for delisted capital market investors: preventive and repressive legal protection. Preventive measures aim to regulate and guide capital market participants through rules, guidelines, coaching, and directives. Meanwhile, repressive measures involve investigations, examinations, and the imposition of sanctions. Regarding corporate responsibility, PT Hanson International Tbk. (MYRX) should bear administrative responsibility towards public investors who suffer losses due to forced delisting by the Indonesia Stock Exchange. One such responsibility includes conducting a share buyback.
| Item Type: | Thesis (S1) | |||||||||
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| Additional Information: | Pasar modal memiliki peran penting dalam perekonomian suatu negara sebagai sarana investasi dan sumber pendanaan bagi perusahaan. Namun, risiko selalu ada bagi investor, salah satunya adalah penghapusan pencatatan saham (delisting), terutama ketika emiten dinyatakan pailit. Penelitian ini membahas perlindungan hukum bagi investor pasar modal dalam kasus delisting saham PT Hanson International Tbk (MYRX) akibat putusan pailit. Penelitian ini menggunakan metode yuridis normatif dengan pendekatan perundang-undangan dan studi kasus. Data penelitian diperoleh dari peraturan perundang-undangan terkait pasar modal, keputusan pengadilan mengenai kepailitan,. Hasil penelitian menunjukkan bahwa delisting akibat kepailitan memiliki dampak signifikan terhadap investor ritel, terutama yang tidak memiliki akses terhadap mekanisme hukum yang memadai untuk pemulihan investasi mereka. Perlindungan hukum bagi investor diatur dalam Undang-Undang Nomor 8 Tahun 1995 tentang Pasar Modal, Peraturan OJK, serta ketentuan BEI mengenai delisting dan kepailitan emiten. Namun, implementasi perlindungan hukum masih menghadapi tantangan, terutama terkait transparansi informasi, akses terhadap keadilan, dan mekanisme ganti rugi bagi investor yang dirugikan. Hasil penelitian ini menunjukan bentuk perlindungan hukum bagi investor pasar modal yang delisting yaitu dengan perlindungan hukum preventif dan represif. Tindakan hukum preventif berguna untuk menertibkan dan membina pelaku pasar modal dalam bentuk aturan, pedoman, bimbingan, dan pengarahan. Sedangkan dalam represif yaitu bentuk-bentuk pemeriksaan, penyidikan dan penerapan sanksi-sanksi. Jika dilihat dari perusahaannya tanggung jawab hukum terhadap investor publik yang mengalami kerugian akibat forced delisting PT Hanson Internasional Tbk. (MYRX) oleh PT Bursa Efek Indonesia harus memiliki kewajiban perusahaan yaitu tanggung jawab administrasi. Salah satu tanggung jawab yaitu melakukan buyback saham. | |||||||||
| Uncontrolled Keywords: | Legal Protection, Investor, Capital Market, Delisting, Bankruptcy. Perlindungan Hukum, Investor, Pasar Modal, Delisting, Kepailitan. | |||||||||
| Subjects: | K Law > K Law (General) | |||||||||
| Divisions: | 01-Fakultas Hukum > 74201-Program Studi Ilmu Hukum 01-Fakultas Hukum |
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| Depositing User: | Niqfa rahma anugrah | |||||||||
| Date Deposited: | 03 Jun 2025 01:50 | |||||||||
| Last Modified: | 03 Jun 2025 01:50 | |||||||||
| URI: | http://eprints.untirta.ac.id/id/eprint/49189 |
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