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Deconstructing Simple Evidence In Bankruptcy Petition For Legal Certainty, M. Hadi Shubhan
Deconstructing Simple Evidence In Bankruptcy Petition For Legal Certainty, M. Hadi Shubhan
Indonesia Law Review
This study analyzed the theories, norms, and practice of simple evidence (pembuktian sederhana) which have become the requirements for bankruptcy petition applications. The evidence applied in the procedure law of the bankruptcy petition and the Suspension of Debt Repayment Obligation or PKPU was simple evidence. The existence of the simple evidence requirement actually caused the bankruptcy petition to have a complication and legal uncertainty. Therefore, the norm of simple evidence needs to be reconstructed. The aspects that have fulfilled simple evidence in the bankruptcy petition or PKPU application included two (2) bankruptcy requirements, namely, unpaid debt that has matured and …
International And Domestic Law Aspects Of Cross-Border Insolvency In Order To Establishing Cross-Border Insolvency Regulation In Asean: Indonesian Perspective, Moch Najib Imanullah, Emmy Latifah, Pramesthi Dinar Kirana Ratri
International And Domestic Law Aspects Of Cross-Border Insolvency In Order To Establishing Cross-Border Insolvency Regulation In Asean: Indonesian Perspective, Moch Najib Imanullah, Emmy Latifah, Pramesthi Dinar Kirana Ratri
Indonesia Law Review
The increases in cross-border trade has resulted in more companies with assets, business, and presence in multiple jurisdiction. When any of these companies face debt restructuring or insolvency, it confronts a myriad of complex issues in coordinating rescue proposals or winding up the businesses across jurisdictions. Prior to the 1997 economic crisis, insolvency laws in most state economies were generally out of date and irrelevant to the modern commercial needs, particulary the cross-border insolvency matters that has not been well regulated. ASEAN has initiated an integrated economy regional by launching an ASEAN Economic Community on late 2015. It aimed to …
Legal Status Of Individual Bankrupt Debtors After Termination Of Bankruptcy And Rehabilitation Under Indonesian Bankruptcy Law, Sonnyendah Retnaningsih, Isis Ikwansyah
Legal Status Of Individual Bankrupt Debtors After Termination Of Bankruptcy And Rehabilitation Under Indonesian Bankruptcy Law, Sonnyendah Retnaningsih, Isis Ikwansyah
Indonesia Law Review
The Indonesian bankruptcy law system adheres to the debt collective principle which is general seizure (sita umum) of the debtor’s property as guarantee for the payment of debt through the bankruptcy institution. The principle of debt collective stresses that the debtor’s debt shall be paid immediately from the property owned by the debtor. Based on such principle, bankruptcy serves as a means of coercion to materialize the creditors’ rights through liquidation of the debtor’s assets. Bankruptcy law in Indonesia does not recognize the principle of debt forgiveness, among others, the implementation of debt relief granted to the debtor to pay …