OJK Make Sure The Formation Of The WanaArtha Life Liquidation Team Is In Accordance With Applicable Provisions

Chief Executive of Financial Industry Supervision of Non Bank Financial Services Authority (OJK) Ogi Prastomiyono. (Photo: Doc. Antara)

The Financial Services Authority (OJK) has ensured that the formation of the Liquidation Team (TL) of PT Asuransi Jiwa Adisarana WanaArtha Life is in accordance with applicable regulations.

The Chief Executive of Non-Bank Financial Industry Supervision of the Financial Services Authority (OJK) Ogi Prastomiyono said that his party had verified the administrative requirements for the liquidation team candidates proposed by the shareholders in accordance with applicable regulations.

"Regarding the formation of the liquidation team, three people were proposed and we selection them objectively. Of the three people, two people met the requirements, so (they) were designated as the liquidation team," he said at a press conference on Non-Bank Financial Industry Policy Development and Supervision (IKNB) monitored online, on Thursday, February 2.

The verification process carried out by the OJK refers to the provisions of PJOK Number 28 of 2015 Article 4 concerning Disbandment, Liquidation, and Bankruptcy of Insurance Companies, Sharia Insurance Companies, Insurance Companies, and Sharia Insurance Companies.

Verification of the candidate for the liquidation team was carried out before the Siruler General Meeting of Shareholders (GMS) decided to form a liquidation team as stipulated in Law Number 40 of 2007 concerning Limited Companies.

Although some of WanaArtha Life's shareholders are currently suspects, Ogi assesses that they still choose the right to participate in decision making through the GMS.

"So, in the process, from the decision of the GMS, the dissolution for WAL companies and the formation of a liquidation team in terms of documentation have met the requirements, so that the dissolution and liquidation teams can run well," he said.

Ogi also said that at work, the WanaArtha Life liquidation team had compiled a work plan approved by his party.

Furthermore, said Ogi, they will work for two years and can be extended once to complete the liquidation process.

"Currently, the WanaArtha Life liquidation team has registered and notified the Directorate General of General Legal Administration, Ministry of Law and Human Rights, on the deed of stipulation of the Circuit GMS to dissolve the company and form a liquidation team on December 30, 2022," he concluded.