To dissolve a company in Indonesia a business is obliged to go through a liquidation process. In other words, liquidation is the process of clearing and settling the assets and liabilities of a closing company, either active or inactive in Indonesia, without going through the litigation process. To approve the liquidation process, a company should assign a liquidator. The liquidator of the closing company can be represented by a legal consultant, a lawyer, or one of the members of the Board of Directors (BoD) during the process of winding up a company. The appointed liquidator is responsible for announcing the dissolution in the State Gazette of Indonesia and the local newspaper agencies. Failure to do so will result in an ineffective liquidation.