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Kamis, April 8, 2021

Regulation of the Minister of Law and Human Rights No. 18 of 2021 on Service-Fee Guidelines for Receivers and Administrators

General Corporate Professions

Service fees for receivers are to be determined as follows: 1) If bankruptcy ends in accord (perdamaian): as calculated from a percentage of the debtor’s payable debt value; 2) If bankruptcy ends in a settlement: as calculated from a percentage of the proceeds from the settlement value of the relevant bankruptcy assets excluding debt; or 3) If an application for a declaration of bankruptcy is rejected at the level of cassation or through a review of a court decision: as determined by the relevant panel of judges (i.e. on an hourly basis up to a maximum of IDR 4 million per hour) and borne by the applicant for the bankruptcy-declaration or by the applicant and the debtor.
Service fees for temporary receivers are to be determined as follows: 1) If an application for a declaration of bankruptcy is granted: as determined by the relevant panel of judges by taking into account the results of the first creditors meeting; or 2) If an application for a declaration of bankruptcy is rejected: as determined by the relevant panel of judges. The tariff is also calculated on an hourly basis up to a maximum of IDR 4 million per hour.
Services fees for administrators are to be borne by the relevant debtors and paid based on agreements between debtors and administrators, while the relevant services-fee amounts will be calculated based on the payable debt value and will be determined by the panel of judges by paying due consideration to the opinions of the relevant creditors.
If no agreement is made regarding administrators fees, then said fees will be determined by the relevant panel of judges in line with the following conditions: 1) A maximum of 7.5% of the payable debt value if the debt payment obligation postponement (penundaan kewajiban pembayaran utang – “PKPU”) process ends in accord; and 2) A maximum of 5.5% of the payable debt value if any PKPU ends without any accord.
This regulation has been in force since 1 April 2021 and can be accessed here.

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Service fees for receivers are to be determined as follows: 1) If bankruptcy ends in accord (perdamaian): as calculated from a percentage of the debtor’s payable debt value; 2) If bankruptcy ends in a settlement: as calculated from a percentage of the proceeds from the settlement value of the relevant bankruptcy assets excluding debt; or 3) If an application for a declaration of bankruptcy is rejected at the level of cassation or through a review of a court decision: as determined by the relevant panel of judges (i.e. on an hourly basis up to a maximum of IDR 4 million per hour) and borne by the applicant for the bankruptcy-declaration or by the applicant and the debtor.
Service fees for temporary receivers are to be determined as follows: 1) If an application for a declaration of bankruptcy is granted: as determined by the relevant panel of judges by taking into account the results of the first creditors meeting; or 2) If an application for a declaration of bankruptcy is rejected: as determined by the relevant panel of judges. The tariff is also calculated on an hourly basis up to a maximum of IDR 4 million per hour.
Services fees for administrators are to be borne by the relevant debtors and paid based on agreements between debtors and administrators, while the relevant services-fee amounts will be calculated based on the payable debt value and will be determined by the panel of judges by paying due consideration to the opinions of the relevant creditors.
If no agreement is made regarding administrators fees, then said fees will be determined by the relevant panel of judges in line with the following conditions: 1) A maximum of 7.5% of the payable debt value if the debt payment obligation postponement (penundaan kewajiban pembayaran utang – “PKPU”) process ends in accord; and 2) A maximum of 5.5% of the payable debt value if any PKPU ends without any accord.
This regulation has been in force since 1 April 2021 and can be accessed here.

......

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Semua Fitur Paket Standard
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Monthly Law Review (MLR)
Indonesian Law Digest (ILD)

STANDARD

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Indonesian Legal Brief (ILB)
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Pusat Data Peraturan dan Putusan Pengadilan Non-Precedent

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