Institutionalization of the Approval Principle of Majority Creditors for Bankruptcy Decisions in Bankruptcy Act Reform Efforts

Rian Saputra,Resti Dian Luthviati

doi:10.20961/jmail.v1i2.46880

Abstract

This study aims to determine the urgency of institutionalizing the principle of bankruptcy decisions that must be approved by the majority creditors with a test stone in the form of a bankruptcy decision Number: 04/Pdt.Sus-PKPU/2018/PN.Niaga.Jkt.Pst then also to analyze the opportunities for institutionalizing the principle. mentioned in Indonesian law. This research is a normative legal research with an approach in the form of a conceptual approach, and a statute approach and a case approach. The results show that the urgency of applying the principle of "Approval of Bankruptcy Decisions Must be approved by Majority Creditors" in Indonesia is based on the Bankruptcy Decision Number: 04/Pdt.Sus-PKPU/2018/PN.Niaga.Jkt.Pst, in addition to following the development of global bankruptcy law. , also in order to provide justice to fellow creditors so that no creditor feels aggrieved in any future bankruptcy decisions. The principle itself requires that each bankruptcy decision be approved by at least 50% of the majority of creditors according to the number of claims (receivables), not the majority according to the number of people. Even though, the application for a bankruptcy statement was made by the Debtor himself, the bankruptcy decision should not have been taken by the court without the approval of the creditors or the majority of creditors. Also, the opportunity to apply this principle in Indonesia is very possible considering that the principle is in accordance with the character of the nation which clearly makes consensus &amp; deliberation as an alternative in every problem that exists within the Indonesian nation, it is not wrong if this is also applied in the concept of the Bankruptcy Law in the future (das sein).

Highlights

The meaning of debt pursuant to Law No 37 of 2004 on the Bankruptcy and Postponement of Debt Payment Obligations means debt: an obligation which is declared or may be expressed directly or arising in the future in a sum of either Indonesian currency or foreign currency or arising out of an agreement or because of an agreement or because of an agreement It can clearly be inferred, on the basis of the concept of the editorial article, that the essence of debt is a duty that the debtor must fulfill. (Muthia Sakti, 2020)While debt is an obligation to be fulfilled or repaid by the debtor, sometimes the obligation is not fulfilled by the debtor or the debtor fails to pay his debt
The principle itself requires that each bankruptcy decision be approved by at least 50% of the
The application for a bankruptcy statement was made by the Debtor himself, the bankruptcy decision should not have been taken by the court without the approval of the creditors or the majority of creditors

Summary

Introduction

The meaning of debt pursuant to Law No 37 of 2004 on the Bankruptcy and Postponement of Debt Payment Obligations (hereinafter abbreviated as Law No 37/2004) means debt: an obligation which is declared or may be expressed directly or arising in the future in a sum of either Indonesian currency or foreign currency or arising out of an agreement or because of an agreement or because of an agreement It can clearly be inferred, on the basis of the concept of the editorial article, that the essence of debt is a duty that the debtor must fulfill. (Muthia Sakti, 2020)While debt is an obligation to be fulfilled or repaid by the debtor, sometimes the obligation is not fulfilled by the debtor or the debtor fails to pay his debt. Conditions of stopping payment may occur because the debtor is unable or unable to pay. Bankruptcy in Hadi Shubhan is a situation in which the debtor is unable to make payments on his creditors' debts. The failure to pay is triggered by financial hardship from the company of the debtor that has suffered a setback. By not satisfying these receivables, it suggests that a conflict has arisen between them. By not satisfying these receivables, it suggests that a conflict has arisen between them. (Budiman, H., Nurlaela, E., Rahmat, D., Akhmaddhian, S, 2020)

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