Ada Pertanyaan? Hubungi Kami 
2026 Hak Cipta Milik Hukumonline.com
Produk Pilihan
Ada Pertanyaan? Hubungi Kami
Christina Desy Butarbutar
In the current era of globalization, there are ever increasing options for entrepreneurs to raise capital as market liberalization has resulted in more liquid capital flows. Obtaining a loan is one of the most common options chosen. Unfortunately, not all debtors are able to settle their debts in time which leads to creditors taking certain measures to ensure debts are settled.
One measure to settle a non-performing loan is bankruptcy. However, bankruptcy should be treated as a last resort as it results in all of a debtor’s assets being seized and sold to repay their debts. As a consequence, bankruptcy is generally deemed as a debtor’s finale.
Bankruptcy is not a new thing in Indonesia. In fact, it has been recognized since Dutch colonization through the application of the Indonesian Civil Code and in more recent times under Law No. 37 of 2004 on Bankruptcy and Suspension of Debt Payments (“Bankruptcy Law”).
Theoretically bankruptcy should proceed effectively over a short period with simple procedures although practice shows otherwise. Knowing that bankruptcy is a lot more complicated than what is written under the law, many parties provide training to understand how bankruptcy works.
One such party is the Indonesian Advocates Association (Peradi) that aims for every advocate in Indonesia to understand bankruptcy as there are many bankruptcy cases in Indonesia. In addition, there have been several developments since the current Bankruptcy Law was issued relating to bankruptcy practices, such as rights of the Financial Services Authority (OJK) to lodge a bankruptcy petition.
This week’s Indonesian Law Digest (ILD) will re-elaborate the discussion on Bankruptcy which was previously covered in the ILD on Bankruptcy Proceedings and Suspension of Payment in Indonesia dated 09 May 2011. Different to the previous ILD, this week’s ILD the will focus on bankruptcy with discussion on suspension of debt payments covered by next week’s ILD. In that regard, this week’s ILD will cover the following matters: bankruptcy petitions, bankruptcy proceedings, and bankruptcy settlement.
In the current era of globalization, there are ever increasing options for entrepreneurs to raise capital as market liberalization has resulted in more liquid capital flows. Obtaining a loan is one of the most common options chosen. Unfortunately, not all debtors are able to settle their debts in time which leads to creditors taking certain measures to ensure debts are settled.One measure to settle a non-performing loan is bankruptcy. However, bankruptcy should be treated as a last resort as it results in all of a debtor’s assets being seized and sold to repay their debts. As a consequence, bankruptcy is generally deemed as a debtor’s finale.
Bankruptcy is not a new thing in Indonesia. In fact, it has been recognized since Dutch colonization through the application of the Indonesian Civil Code and in more recent times under Law No. 37 of 2004 on Bankruptcy and Suspension of Debt Payments (“Bankruptcy Law”).
Theoretically bankruptcy should proceed effectively over a short period with simple procedures although practice shows otherwise. Knowing that bankruptcy is a lot more complicated than what is written under the law, many parties provide training to understand how bankruptcy works.
One such party is the Indonesian Advocates Association (Peradi) that aims for every advocate in Indonesia to understand bankruptcy as there are many bankruptcy cases in Indonesia. In addition, there have been several developments since the current Bankruptcy Law was issued relating to bankruptcy practices, such as rights of the Financial Services Authority (OJK) to lodge a bankruptcy petition.
This week’s Indonesian Law Digest (ILD) will re-elaborate the discussion on Bankruptcy which was previously covered in the ILD on Bankruptcy Proceedings and Suspension of Payment in Indonesia dated 09 May 2011. Different to the previous ILD, this week’s ILD the will focus on bankruptcy with discussion on suspension of debt payments covered by next week’s ILD. In that regard, this week’s ILD will cover the following matters: bankruptcy petitions, bankruptcy proceedings, and bankruptcy settlement.
Christina Desy Butarbutar
In the current era of globalization, there are ever increasing options for entrepreneurs to raise capital as market liberalization has resulted in more liquid capital flows. Obtaining a loan is one of the most common options chosen. Unfortunately, not all debtors are able to settle their debts in time which leads to creditors taking certain measures to ensure debts are settled.
One measure to settle a non-performing loan is bankruptcy. However, bankruptcy should be treated as a last resort as it results in all of a debtor’s assets being seized and sold to repay their debts. As a consequence, bankruptcy is generally deemed as a debtor’s finale.
Bankruptcy is not a new thing in Indonesia. In fact, it has been recognized since Dutch colonization through the application of the Indonesian Civil Code and in more recent times under Law No. 37 of 2004 on Bankruptcy and Suspension of Debt Payments (“Bankruptcy Law”).
Theoretically bankruptcy should proceed effectively over a short period with simple procedures although practice shows otherwise. Knowing that bankruptcy is a lot more complicated than what is written under the law, many parties provide training to understand how bankruptcy works.
One such party is the Indonesian Advocates Association (Peradi) that aims for every advocate in Indonesia to understand bankruptcy as there are many bankruptcy cases in Indonesia. In addition, there have been several developments since the current Bankruptcy Law was issued relating to bankruptcy practices, such as rights of the Financial Services Authority (OJK) to lodge a bankruptcy petition.
This week’s Indonesian Law Digest (ILD) will re-elaborate the discussion on Bankruptcy which was previously covered in the ILD on Bankruptcy Proceedings and Suspension of Payment in Indonesia dated 09 May 2011. Different to the previous ILD, this week’s ILD the will focus on bankruptcy with discussion on suspension of debt payments covered by next week’s ILD. In that regard, this week’s ILD will cover the following matters: bankruptcy petitions, bankruptcy proceedings, and bankruptcy settlement.
In the current era of globalization, there are ever increasing options for entrepreneurs to raise capital as market liberalization has resulted in more liquid capital flows. Obtaining a loan is one of the most common options chosen. Unfortunately, not all debtors are able to settle their debts in time which leads to creditors taking certain measures to ensure debts are settled.One measure to settle a non-performing loan is bankruptcy. However, bankruptcy should be treated as a last resort as it results in all of a debtor’s assets being seized and sold to repay their debts. As a consequence, bankruptcy is generally deemed as a debtor’s finale.
Bankruptcy is not a new thing in Indonesia. In fact, it has been recognized since Dutch colonization through the application of the Indonesian Civil Code and in more recent times under Law No. 37 of 2004 on Bankruptcy and Suspension of Debt Payments (“Bankruptcy Law”).
Theoretically bankruptcy should proceed effectively over a short period with simple procedures although practice shows otherwise. Knowing that bankruptcy is a lot more complicated than what is written under the law, many parties provide training to understand how bankruptcy works.
One such party is the Indonesian Advocates Association (Peradi) that aims for every advocate in Indonesia to understand bankruptcy as there are many bankruptcy cases in Indonesia. In addition, there have been several developments since the current Bankruptcy Law was issued relating to bankruptcy practices, such as rights of the Financial Services Authority (OJK) to lodge a bankruptcy petition.
This week’s Indonesian Law Digest (ILD) will re-elaborate the discussion on Bankruptcy which was previously covered in the ILD on Bankruptcy Proceedings and Suspension of Payment in Indonesia dated 09 May 2011. Different to the previous ILD, this week’s ILD the will focus on bankruptcy with discussion on suspension of debt payments covered by next week’s ILD. In that regard, this week’s ILD will cover the following matters: bankruptcy petitions, bankruptcy proceedings, and bankruptcy settlement.