Fees for Bankruptcy Receivers and Administrators Re-Regulated

Minister of Law and Human Rights (“Minister”) has issued Regulation No. 1 of 2013 on Guidelines for Determining Fees for Bankruptcy Receivers and Administrators (“Regulation”). The Regulation implements  Articles 76 and 234 (5) of Law No. 37 of 2004 on Bankruptcy and Postponement of Debt Payment Obligation (“Bankruptcy Law”).

Prior to the Regulation, such fees were stipulated under the Minister Decree No. M.09-HT 05.10 of 1998 on Compensation Guidelines for Bankruptcy Receivers and Administrators (“Decree”). The Decree was considered outdated because it was based on Bankruptcy Law’s predecessor, namely Law No. 4 of 1998 on Bankruptcy.