Debt Payment Obligations Research Articles

The Covid-19 Pandemic and Developing the Legal Certainty on Bankrupcy for Health Institution in Indonesia

This research aims to analyze how to develop the legal certainty for health institution during the Covid-19pandemic period. The method used in this research is the normative research method, which analyzes therelated constitutional regulations and legal materials. In handling the impacts of the Covid-19 pandemicwhich leads to the weakening of the economy, the government has issued some economic stimuli whichare not limited to direct cash aid to the impacted people, but also relaxation and restructurization programsfor health institution and their business organs. The writer concludes that those things are not enough tocope with the bankruptcy which threatens the nation. Because of that, there needs to be restructurizationagreements between the health institution. This is because until now, the Constitution on Bankruptcy andthe Postponement of Debt Payment Obligations are the latest legislations which regulate the debtors andcreditors’ relation regarding their financial obligations during a financial crisis during the period of theCovid-19 pandemic to protect the health institution.

LEGAL ANALYSIS OF BANKRUPTCY IN THE PERSPECTIVE OF LEGAL PURPOSES

Law Number 37 Of 2004 On Bankruptcy And Suspension Of Obligation For Payment Of Debts was formed to protect creditors and debtors. The purpose of Law is to realize the value of the benefit, justice, and legal certainty. This juridical fact shows that there are legal issues that deserve to be studied normatively. Based on the above background, the problem in this research is the right proposal concept. The application of articles 2 (1) and Article 8 (4) Bankruptcy And Suspension Of Debt Payment Obligations Law can achieve legal objectives. The results showed that the proposed concept to amend the Bankruptcy And Suspension Of Debt Payment Obligations Law took time. Concrete conceptual proposals so that the application of articles a (1) and Article 8 (4) can realize values by changing the attitude of judges who decide not only based on legal certainty. The Judge's attitude in deciding must also be based on the potential impact of Bankruptcy on the Debtor, whether it will lead to benefit or justice. The constitutive nature of decisions also affects changes in judge attitudes.

Legal Protection Against Buyers of Cessie Receivables in Suspension of Debt Payment Obligation and Bankruptcy

Transfer of accounts receivable through cessie is one of the things that is done in Indonesia. Cessie is also often carried out on receivables in cases of suspension of debt payment obligations and bankruptcy. The application of cessie in cases of suspension of debt payment obligations and bankruptcy is quite often carried out by creditors. However, Law Number 37 of 2004 concerning Suspension of Debt Payment Obligations and Bankruptcy has not further stipulated legal protection for creditors and debtors against the transfer of these receivables. Thus, legal protection for the transfer of receivables needs to be further regulated in regulations regarding suspension of debt payment obligations and bankruptcy to create legal certainty, legal benefits, and legal justice.

Legal Protection Against Buyers of Cessie Receivables in Suspension of Debt Payment Obligation and Bankruptcy

Transfer of accounts receivable through cessie is one of the things that is done in Indonesia. Cessie is also often carried out on receivables in cases of suspension of debt payment obligations and bankruptcy. The application of cessie in cases of suspension of debt payment obligations and bankruptcy is quite often carried out by creditors. However, Law Number 37 of 2004 concerning Suspension of Debt Payment Obligations and Bankruptcy has not further stipulated legal protection for creditors and debtors against the transfer of these receivables. Thus, legal protection for the transfer of receivables needs to be further regulated in regulations regarding suspension of debt payment obligations and bankruptcy to create legal certainty, legal benefits, and legal justice.

Duties And Authority Of PKPU Management Basen On Law No. 37 Of 2004 Concerning Bankruptcy And Suspension Debt Payment Obligations

Suspension of Debt Payment Obligations (PKPU) is a way that can be done so that debtors avoid the bankruptcy process. In the PKPU process, one or more independent PKPU administrators are appointed to together with the PKPU debtor manage the assets of the PKPU debtor. The problem in this paper is about how the appointment of the management in PKPU, the relationship between the management and PKPU debtors, as well as the duties and authorities of the PKPU management as regulated in Law Number 37 of 2004 concerning Bankruptcy and Postponement of Debt Payment Obligations. The research method used is a normative legal research method with a descriptive research nature and uses a juridical legal approach. Data collection was carried out by means of data collection in the form of library research in the form of books, articles, magazines and the internet which are closely related to the aims and objectives of writing this thesis. The data used is secondary data, namely primary legal materials, secondary legal materials and tertiary legal materials. The method used in analyzing the data is qualitative analysis. The conclusion of this paper is that the PKPU management is appointed by the Panel of Judges of the Commercial Court who examines and decides on the PKPU case with a decision. In PKPU, the relationship between management and debtors is very close based on the duties and authorities they have, so that in order to achieve the goals of PKPU, the management and debtors must always pay attention to and maintain good relations. Law No. 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations has regulated the duties and authorities of the PKPU management in managing the assets of PKPU debtors together with PKPU debtors treasure.

Reorganisasi Perusahaan Debitor Yang Terancam Pailit Sebagai Suatu Alternatif

Law No.37 of 2004 concerning Bankruptcy and Postponement of Debt Payment Obligations Article 2 paragraph (1) has determined that a debtor who has two or more Creditors and does not pay in full at least one debt that has matured and is collectible, is declared bankrupt by verdict Court, either at the request of one or more creditors. With this provision, it can be understood that bankruptcy is a reasonable choice. However, several opinions of bankruptcy law have not provided sufficient protection to debtors with good intentions. This article intends to find out more about the implementation of the reorganization of debtor companies whether it can be used as an alternative so that the debtor company does not go bankrupt. The method used is normative legal research. Data sources consist of primary legal materials, secondary legal materials, and tertiary legal materials. Based on the results of the research, it is known that the regulations regarding company reorganization have not been clearly and firmly regulated in Law Number 37 of 2004 concerning Bankruptcy and Postponement of Debt Payment Obligations, Reorganization is part of the restructuring, bankruptcy can be avoided through a business reorganization in the form of mergers, consolidations. , business acquisitions, and other forms. This bankruptcy law also does not provide sufficient protection to debtors with good intentions, because there has been a tendency to interpret bankruptcy as liquidation. However, it must be understood that bankruptcy should also be a means of reorganizing the company. The legal consequence of company reorganization on the settlement of the company's debt and accounts receivable is that there is an opportunity for creditors and debtors to settle their debts without going through a bankruptcy process which can result in the debtor being declared bankrupt.

Insolvency Proceedings: ASEAN and EU Comparison on the Rules of Foreign Court Jurisdiction

Due to a lack of uniformity or harmonization of laws and regulations, cross-border insolvency has remained an issue in the ASEAN region. ASEAN economic openness with the implementation of the ASEAN Free Trade Area (AFTA) and ASEAN Economic Community (AEC) may create issues at some points as investors compete to dominate the ASEAN while assets are located not only on their own territory but also in other ASEAN member countries. On some occasions, they can fail to meet their debt payment obligations when performing international business transactions. As a result of the bankruptcy case, a legal arrangement may exist between the country in which the business actor is declared bankrupt and the country in which the bankrupt debtor's assets are located. This interaction between two or more countries involves a clash of jurisdictions. In order to counter such an issue, ASEAN may learn from what the EU has done over these decades. The study aims to compare the regulatory issue of foreign court jurisdiction in settling the insolvency cases both in ASEAN and EU. The paper is normative-qualitative legal research. It used a comparative, statute, and conceptual approach. It is found that in terms of cross-border insolvency, the European Union is far ahead of ASEAN, given that at least two major regulations in place, namely EC Regulation 1346/2000 and EU Regulation 2015/848, while ASEAN has almost nothing to offer at this time. The experience of the EU to formulate and implement a settled regulation on foreign court jurisdiction in settling the insolvency cases among EU member countries is one of the valuable lessons that ASEAN may take from the EU.

Material Adverse Change: An Alternative Solution to Suspension of the Debt Payment.

The research aimed to provide alternative solutions with Material Adverse Change (MAC) before reaching the suspension of the debt payment obligation stage. The pandemic situation had caused many companies to experience difficulties in fulfilling their obligations, including payment obligations or debts to suppliers and creditors. If there were circumstances where the company could not fulfill its obligations, then the creditor would be able to collect through debt-restructuring to bankruptcy. The restructuring was carried out through the suspension of the debt payment obligation (Penundaan Kewajiban Pembayaran Utang/PKPU). The research used normative juridical methods. It focused on credit and financing transactions between companies and creditors, both banking or finance companies. The research concludes that before the suspension of a debt payment obligation, companies and creditors should negotiate based on MAC before reaching a lawsuit. In the MAC, there is an explicit clause, and it is agreed by both parties, then the creditor should acknowledge the company’s actual condition.

Pembagian Harta Warisan Ditinjau dari Kitab Undang-Undang Hukum Perdata

Indonesia has experienced rapid development from ancestral ages to modern ages in terms of its people living with daily-supporting facilities. In other words, the Indonesian people live with a legacy which is then developed. Regarding inheritance, this study examines two legal issues: (1) distribution of inheritance according to the Civil Code and (2) settlement of disputes over distribution of inheritance results according to the Civil Code. This study was designed using a normative legal research method design; the data were collected by applying note-taking and analysing techniques based on legal materials. Based on the results of data analysis, it is found that in terms of its form there are three types of rights and obligations of an heir: openbaar testament, a form of inheritance made by a notary, in which case, the person who will transfer the inheritance appears before a notary and declares his will; olographis testament, a form of inheritance realising in writing by hand and is affixed by the hand of the inheritor (elgenhading / gedepoecerd); and a secret testament, a form of inheritance that requires the transfer of inheritance by written evidence, made by the person transferring the inheritance but not necessarily handwritten. There are two forms of dispute resolution related to inheritance through litigation, namely the general court, which in this case is the district court, the authority to examine disputes and the commercial court of a special court that is within the environment of a general court that has the competence to examine and decide an application for participation and postponement of debt payment obligation (PKPU) and disputes over intellectual property rights (HaKI).

Kedudukan Bank Indonesia (BI) sebagai Pemohon Pailit Setelah Berdirinya Otoritas Jasa Keuangan (OJK)

In its development banking institutions play a very important role and Act Number 3 of 2004 concerning About Bank Indonesia. After the birth of Law Number 21 of 2011 concerning the Financial Services Authority. It is very interesting to study. What are the considerations taken by Bank Indonesia as a Bankrupt Petitioner after the existence of the Financial Services Authority and What is the Role of Bank Indonesia in Resolving Bankrupt Requests Against Banks. In this study the author uses the type of normative research from primary legal sources secondary legal materials. Article 2 paragraph (3) No. 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations gives Bank Indonesia sole authority to submit bankruptcy applications to banks as creditors. the results of this study indicate that the authority to submit bankruptcy bank applications after the establishment of the Financial Services Authority the Financial Services Authority is to take into account whether the banks status has a systemic impact when the bank is filed for bankruptcy statements. The Financial Services Authority in this case can request consideration with Bank Indonesia about systemic impact of a bank. But the fact is Bank Indonesia still has authority of macropudentials

Simple Verification Principles in Bankruptcy Procedures in Commercial Court of Indonesia

The purpose of this paper is to explain how the verification of the principles of bankruptcy procedures for an institution and an individual must be carried out in a commercial court in Indonesia. A commercial court is a special court that handles bankruptcy requests for a trade. This paper uses a descriptive method with its main source, namely Law number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations. Law number 37 of 2004 annulls some of the previous bankruptcy regulations, including the regulation which states that district courts no longer have absolute ability to examine or terminate bankruptcy. Another change in Law number 37 of 2004 is that the bankruptcy procedure is handled specifically by the commercial court with a different procedure and verification principle that is simpler when compared to the previous bankruptcy procedure.

Relevance Of Justice Value In Legal Protection Of Debtor In The Political Law Of Bankruptcy

In its development the business world requires the provision of capital loan services. However, the development of the need for capital in the business world is not balanced with protection for debtors. The existence of Articles 55 and 56 of Act Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations, the position of debtor protection in the bankruptcy undertaken by a separatist creditor against the creditor becomes weak, this is due to the absence of legal remedies that can be done by the dbitur when bankruptcy has been declared effective against him. Therefore the issues that will be discussed in this journal are the legal protection system for debtors in bankruptcy politics, weaknesses in the legal protection system for debtors in bankruptcy political politics, and issues related to finding solutions through reforming the legal protection system for debtors in bankruptcy politics.The purpose of this research is to analyze the legal protection system for debtors in bankruptcy law politics; to analyze the weaknesses of the legal protection system for debtors in bankruptcy law politics; to find a solution through reforming the legal protection system for debtors in bankruptcy law politics.The research method used in this paper is a normative juridical approach. As for the research that has been done, it can be concluded that the existence of Article 55 and Article 56 of Act Number 37 of 2004 concerning Bankruptcy and Delaying Obligations of Debt Payment has resulted in injustice to debtors in the implementation of bankruptcy against debtors committed by creditors; So it is necessary to reform the implementation of debtor protection in the implementation of bankruptcy to debtors by the creditor by implementing a system of debtor protection in the implementation of bankruptcy to debtors based on Pancasila. Keywords: Debtor; Justice Value; Legal Protection; Legal Politics; Bankruptcy.

PERAN OTORITAS JASA KEUANGAN DALAM MELINDUNGI PEMEGANG POLIS ASURANSI AKIBAT PAILITNYA PERUSAHAAN ASURANSI (Studi Putusan Mahkamah Agung Nomor 408 K/Pdt.Sus-Pailit/2015)Abstract

AbstractThe Financial Services Authority as an institution that oversees activities in the insurance sector functions to create a financial system that grows in a sustainable and stable manner and can foster public confidence in the insurance industry. Within the scope of supervision in the insurance sector, the Financial Services Authority has the authority to submit bankrupt statements to insurance companies in order to protect the interests of insurance policy holders.The purpose of the research in this thesis is to analyze the authority of the Financial Services Authority in the insolvency of insurance companies, to analyze the legal protection of customers who are harmed by the insolvency statement of insurance company to analyze the legal considerations of judges in the Supreme Court’s Decision No. 408 K/ Pdt. Sus-Pailit /2015.The research method used is descriptive analysis that leads to normative juridical research that is research conducted by referring to legal norms that is examining library materials or secondary materials, and secondary data by processing data from primary legal materials, secondary legal materials and tertiary legal materials.The results showed that the Authority of the Financial Services Authority in the insolvency of insurance companies is based on the Bankruptcy Law and Suspension of Debt Payment Obligation (‘UU KKPU’) and Financial Services Authority Act (‘UU OJK’) with its implementation arrangement and the Financial Services Authority’s position as the party submitting an application for bankruptcy statements through the Board of Commissioner of Financial Services Authority. Protection provided to insurance policy holders in the case of bankruptcythat is guaranteed the position of policy holder in the event ofbankruptcy to the insurance company.Judge’s legal consideration in the decision of the Supreme Court Number 408 K/ Pdt. Sus-Pailit /2015 so as to decide on PT. AsuransiJiwaBumiAsih Jaya declared bankrupt is the OJK as a financial service sector supervisory agency authorized to submit bankruptcy requests for insurance companies because PT AsuransiJiwaBumiAsih Jaya is proven to have debt in the form of payment of the policy holder’s claim liability.Key-Words: Role of OJK, Insurance Policy, Bankruptcy.

DETERMINATION OF IMPAIRMENT LOSSES RESERVE AND ITS IMPACT ON INTEREST EARNED AT PT BANK MANDIRI (PERSERO) TBK FROM 2014-2018

The purpose of this study is: 1) To analyze how the different ways of determining impairment losses reserve will affect the interest earned 2) To make recommendation on the best way to determine the impairment losses reserve. This research method uses a quantitative approach based on time series data and cross sections. The population in this study is PT. Bank Mandiri (Persero) Tbk. In this study the sampling technique used probability sampling method. Determination of the sample using the simple random sampling method. Data analysis method in this study uses multiple regression analysis with the help of SPSS version 24.00. The results of the study show some conclusions as follows: 1) Delay in debt payment obligations (PKPU) is proven to have an influence on allowance for impairment losses (CKPN) with a positive relationship. 2) Credit quality (KK) is proven to have an influence on allowance for impairment losses (CKPN) in a negative direction. 3) Delayed debt payment obligations (PKPU) have been proven to influence interest earned with a negative relationship. 4) Credit quality (KK) is proven to have an influence on interest earned and 5) Allowance for impairment losses (CKPN) is proven to have an influence on interest earned with a negative relationship.

KEABSAHAN DIREKTUR PERUSAHAAN PAILIT YANG MENJADI DIREKTUR PERUSAHAAN LAIN

This journal entitled Validity of the Director of Corporate Bankruptcy The Become Director of Companies, originating from legal conflict that occurs between the requirements to become directors that requires not been declared bankrupt under Article 93 of Law Number 40 Year 2007 regarding Limited Liability Company with the consequent bankruptcy the only limit debtors to manage and master the wealth contained in Article 24 paragraph (1) of Law No. 37 of 2004 on Bankruptcy and Debt Payment Obligation, the formulation of the problem: 1. Why did the director of the bankrupt company can not be a director in another company ? 2. What legal remedies for directors at the company bankrupt in order to become a director in another company?. Normative methods underlying the writing of this, with statute approach, conceptual approach, and case approach. This study stems from obscurity as a result of bankruptcy, especially regarding the rights of the insolvent company directors can not be a director in another company within a period of 5 (five) years after being declared bankrupt. This study suggests that the terms barring a bankruptcy of directors to become directors in the company of other conflicts with settings that declare bankruptcy as a result of the bankruptcy of a ruling not only on wealth alone. It is also contrary to the basic concept of civil rights. Legal effort to do ever declared bankrupt directors to become directors of the company other is to conduct a tort lawsuit to the notary and the Ministry of Justice and Human Rights. Ministry of Justice and Human Rights can be sued also in the State Administrative Court because it is not in accordance with the General Principles of Good Governance.

Pembuktian Sederhana Dalam Putusan Pailit (Studi Kasus Perkara Nomor 515 K/PDT.SUS/2016)

The interpretation of simple proofing in bankruptcy petition hearings is often interpreted differently, both by the panel of judges and experts. Those different interpretations affect such kind of legal uncertainty and injustice for litigant parties. To exam simple proofing matter, this study uses normative legal research method. Based on this study could be known that simple proofing process in bankruptcy petition cases is often interpreted differently by the panel of judges, whereas Article 8 paragraph (4) of the Bankruptcy Act and the Postponement of Debt Payment Obligations are clear enough wants to reach legal certainty, justice, and expediency. In the case of Decision Number 515 K/PDT.SUS/2016, the judges argued that the simple evidentiary requirements as proposed by the debtor bankruptcy petitioner are not simple, even though the bankruptcy petitioner has proven and postulate that there are 2 or more corporate creditors and salary arrears for employees whose value reaches Rp 3 billion as a proof of condition as according to Article 2 paragraph (1) of the Bankruptcy Act. The judges believes that salary payable to employees could make the proofing requirements not simple, while the Bankruptcy Act clearly states that if the debtor has two or more creditors and does not pay in full at least one debt that has matured and can be billed, debtor could be declared bankrupt by court decision, either upon his own application or because of the request from one or more of his creditors.

Analisis Pengaturan Hukum Acara Kepailitan dan Penundaan Kewajiban Pembayaran Utang

In carrying out its business, businessmen often establish a debt agreement. Debt agreements are a common thing between creditors and debtors. However, at times, it may cause a dispute between debtors who are negligent and unable to pay their debts to creditors. One of the eff orts to overcome the unpaid debt is through Bankruptcy and Postponement of Debt Payment Obligations petitioned by the debtors or the creditors. Bankruptcy is the general seizure of all the assets of a bankrupt debtor whose management and settlement is carried out by the Curator under the supervision of the Supervisory Judge. On the other hand, Postponement of Debt Payment Obligations (PKPU) is the settlement of the debt, also aiming to establish a peace off er that includes off ers of partial payment or whole payment of the debt to the creditors. Bankruptcy and PKPU in its implementation have been regulated in Indonesian Law Number 37 of 2004 on Bankruptcy and Postponement of Debt Payment Obligations, Herziene Indonesisch Reglement (HIR), Reglement of De Rechtsvordering (Rv), Buitengewesten Rechtsreglement (RBg), and further stipulated in the Civil Law Procedure-Draft. In Bankruptcy and Postponement of Debt Payment Obligation’s procedural law arrangements contained in various regulations and in the Civil Law Procedure-Draft, there are shortcomings that need to be analyzed to provide a legal basis for Bankruptcy and Postponement of Debt Payment Obligations procedural law arrangements. Considering the upcoming legalization of the Civil Law Procedure-Draft, this study will analyze several important points that can be used as a reference for the Civil Law Procedure-Draft.

Tinjauan Yuridis terhadap Syarat Formil dan Materil UU No 37 Tahun 2004 terhadap Perkara Kepailitan pada Putusan Nomor 09/Pdt.Sus-Pkpu/2015/Pn.Niaga Medan

<p class="1judul"><em>Juridical Issues Against Formality and Material Requirements From Uu No. 37 of 2004 Against Bankruptcy Cases of Decision Number 09 / Pdt.Sus-Pkpu / 2015 / Pn.Niaga Medan</em></p><p class="1judul">This thesis is basically about what are the formal requirements and material requirements of Law No. 37 of 2004 concerning bankruptcy cases and relating them to the bankruptcy case of PT. Bumi Minang Padang Plaza Hotel. The proposed discussion is the regulation of bankruptcy law in Indonesia, with debt restructuring and the postponement of bankruptcy debt payment obligations, as well as the legal consequences of the bankruptcy decision of PT. Bumi Minang Padang Plaza Hotel. To discuss these problems, the primary legal material research is carried out, namely the material that is binding because it is issued by the Government, among others: statutory regulations, court decisions and treaties, the second is secondary legal material, namely materials which discuss primary material, between Other: books, articles, research reports, as well as various other scientific papers and all three tertiary legal materials, namely materials that support primary and secondary materials, among others: internet and others and conduct field research in the Medan Commercial Court</p><p> </p>

The Implementation of Insolvency Test on Debtors’ Bankruptcy in Performing the Principle of Justice

Bankruptcy requirements as a legal basis for bankruptcy applications are only based on the burden of proof in a simple manner which results in the debtor being easily declared bankrupt by the court. This impedes the realization of the principle of justice that has been mandated in Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations (SDPO). This article aims to analyze the basis of justice related to the bankruptcy of the debtor and the implementation of the bankruptcy test in relation to the request for bankruptcy submitted to the debtor. This study is a normative juridical research method that uses descriptive-analytic research. This study also uses library research to collect data and analyzes data with qualitative juridical methods. The results show that the debtor's bankruptcy application did not apply the Bankruptcy test. It is believed that insolvency test on the debtor's bankruptcy petition is as a manifestation of the principle of justice that is in accordance with Pancasila by providing balanced protection among creditors, debtors and other stakeholders.

Perlindungan Hukum Bagi Kreditor Terhadap Pelunasan Piutang Dari Harta Pailit

The concept of legal protection in bankruptcy has so far been seen as a way out of the problem of accounts receivable debt which coincides with a bankrupt debtor, where the debtor no longer has the ability to repay the debts which are past due to their creditors, so that the steps to submit a request for the determination of bankruptcy status by the Court Commerce of the debtor is a possible step to resolve the bankruptcy case. Bankruptcy was originally regulated in Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations (UUK and PKPU). Furthermore, if the parties submitting bankruptcy applications, the Commercial Court Judges at the District Court are required to examine and hear the case being submitted. The research method used is the normative legal research method or library research with the statute aprroach approach and the case aprroach approach. Based on the results of the study, it is known that the form of legal protection for creditors against paying off debts from bankrupt assets in the Supreme Court Decision Number 511 / K / Pdt. Yinchenindo Mining Industry (in bankruptcy) by law becomes a guarantee for its debts to preferred creditors, in this case the Head of the Second Foreign Capital Investment Service Tax Office. Furthermore, the UUK and PKPU also guarantee the rights of creditors in bankruptcy, especially the rights of preferred creditors who have a special position with peace efforts and the postponement of obligations to pay debts of bankrupt debtors to their creditors as stipulated in Article 222 of the UUK and PKPU. The concept of the distribution of bankrupt assets distributed to preferred creditors after deducting bankruptcy fees and compensation for curatorial services where the payment process is settled based on the principle of fairness and balance set forth in Article 265 of the UUK and PKPU, where the preferred creditor parties receive the remaining payment of the receivables amounting to 62.5% ( sixty two point five percent) of the bankruptcy assets.It is expected that the Judges of the Commercial Court and the Court of Appeals at the Supreme Court consider the rights of preferred creditors who pay off their receivables first. The Debtor should be able to immediately submit a request to postpone the debt payment obligation so that the remaining outstanding debt receivables cannot be paid off to the preferred creditors through the sale of free assets. Keywords: Protections of the law, creditor, Treasures of starc