From Debtors to Settlement Deals: Govt. Caps Hourly Tariffs for Bankruptcy Case Receivers at Rp. 4 Million/Hour

In 2021, the Indonesian Government introduced Regulation of the Minister of Law and Human Rights No. 18 of 2021 (“Regulation 18/2021”) on Guidelines for the Stipulation of Fees for Receivers (Kurator) and Administrators (Pengurus). As its title suggests, Regulation 18/2021 set out a mechanism for the stipulation of fees (i.e. compensation that is paid to receivers or administrators upon the completion of bankruptcy and Suspension of Debt Payment Obligation [Penundaan Kewajiban Pembayaran Utang – “PKPU”] processes).[1]