Debtor's Assets Research Articles

The law politics of bankruptcy decision execution against debtor's assets abroad

The purpose of this study is to examine and analyze law politics related to the execution of bankruptcy decisions against debtor assets abroad. The research method used is normative legal research with a qualitative descriptive analysis method approach, based on comparative law, with prescriptive analytical specifications. The research findings conclude that sovereignty is interpreted as the responsibility to improve and protect all national and international community interests, manifested in the form of the state's ability to interact and establish relations with countries in the world, as well as cooperate and coordinate bilaterally, multilaterally and in international organizations. The provisions on international bankruptcy in Law of the Republic of Indonesia Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations or Undang-Undang Republik Indonesia Nomor 37 Tahun 2004 tentang Kepailitan dan Penundaan Kewajiban Pembayaran Utang (Bankruptcy Law) are similar to the Dutch Bankruptcy Law, there are no comprehensive regulations related to international bankruptcy. To ensure legal certainty, a legal policy is needed in the form of changes and updates to the Bankruptcy Law by adding articles to apply the principles of international bankruptcy in the Model Law, namely the Principle of Access, the Principle of Recognition, the Principle of Assistance and the Principle of Cooperation and Coordination, as applied in the US Bankruptcy Code Chapter 15. Article 299 of the Bankruptcy Law also needs to be amended so that the procedural law applied is the special procedural law for international bankruptcy.

Settlement of Workers' Rights at PT Satelit Bintang Persada Through PKPU Legal Efforts at the Medan Commercial Court

<p>Generally, if a company is no longer able to provide for the welfare of its employees, then the company experiences a financial crisis and this will result in the company's bankruptcy. Bankruptcy or bankruptcy is legal certainty received by the debtor because of the court's bankruptcy decision. The result of bankruptcy is that the debtor's assets are placed under investment so that the debtor cannot have his assets back. The problem is that this research was conducted to reveal how the rights of PT workers are resolved. Bintang Persada Satellite through legal action at the Medan District Court and how the PKPU was resolved at the Medan Commercial Court. The research method uses normative juridical research methods. The research results show that PT. Bintang Persada Satellite was found guilty and had to pay workers their rights in accordance with the provisions of article 156 of Law no. 13 of 2003 which includes severance pay, long service awards and rights assignment money. Meanwhile, in the case of delayed debt payment obligations (PKPU) which occurred at PT. Bintang Persada Satellite where the company is deemed incapable and is no longer actively running its busines.</p>

Juridical Review of Actio Pauliana Against Bankrupt Boedal Becoming The Object Of Liability

The Bankruptcy and Postponement of Debt Payment Obligations Act of 2004 regulates the bankruptcy process, which involves the conversion of a debtor's personal assets into bankrupt assets. The court appoints a curator and a supervising judge to oversee all of the insolvent estate's assets. The curator may come across legal measures initiated by the debtor against the bankrupt assets during this procedure that might be harmful to creditors. Paulina's action is what the curator can do in these circumstances to ask the court to dismiss these legal actions. The purpose of this study is to comprehend how Paulina's intervention supports the rights of creditors, particularly with regard to mortgage rights.The study used normative legal research and conducted descriptive and qualitative analyses of both primary and secondary data. The findings revealed that Paulina's action can be used to protect the mortgage rights of creditors, provided that certain dejure elements are met. The study highlights the importance of consistency and synchronization of decisions based on the principles and norms of bankruptcy law to achieve legal harmonization.In conclusion, Paulina's action plays a critical role in safeguarding the interests of creditors in bankruptcy cases, particularly regarding mortgage rights. It empowers the curator to cancel legal actions that could harm the creditors and promotes legal harmonization. This study underscores the need for consistent and coherent application of bankruptcy laws to ensure the equitable treatment of all parties involved. Keywords : Actio Paulina, Legal Action, Bankruptcy Law

Legal Analysis of Corporate Insolvency: A Case Study of the Insolvency Resolution Process

Bankruptcy is a situation that can be experienced by all who run their business, bankruptcy is a debtor who is in an unfavorable state because all his assets are not enough to meet his needs to pay all his debts. So that legal problems arise when a company experiences financial difficulties, in Indonesia bankruptcy law is regulated in Law number 37 of 2004. The purpose of the study is to analyze bankruptcy law, especially the bankruptcy settlement process. The research method used in this study is the descriptive qualitative method. Data collection is carried out through literature studies (library research), then the collected data is analyzed through three stages, namely data reduction, data presentation, and conclusions. The results showed that Law Number 37 of 2004 can provide legal protection to creditors, debtors, and the public fairly and equitably. The bankruptcy settlement process can be carried out through two stages, namely the PKPU stage or postponement of debt payment obligations and the bankruptcy settlement process. The bankruptcy settlement process consists of several stages, namely the first bankruptcy application, the examination of the bankruptcy application, the bankruptcy statement decision, the appointment of a receiver, the distribution of debtor's assets, and then the last stage of the bankruptcy closing decision.

PROPORTIONALITIES OF JUDGE'S DECISIONS ON THE POSITION OF CONCURRENT CREDITORS AS AN EFFORT TO ENFORCEMENT OF LEGAL CERTAINTY OF THE PARTIES IN BANKRUPTCY DISPUTES

<em>Bankruptcy which is a condition in which the debtor is unable to make payments on his debts to creditors. In the dispute process, there is a sequence of creditor levels which will affect the settlement of creditor receivables, namely preferential, separatist and concurrent creditors. Concurrent creditors who are at the last level make their position very vulnerable to not getting their receivables repaid. This requires further research in this regard. This study uses a normative legal method which will analyze legal sources and legal literature related to the topics discussed. This research will discuss 1) what is the position of concurrent creditors in bankruptcy disputes and 2) how is the proportionality of the judge's decision on the position of concurrent creditors in bankruptcy disputes as an effort to enforce the legal certainty of the parties? The results of this study indicate that the position of concurrent creditors in bankruptcy disputes is that creditors are the most recent in paying off their receivables. Then the proportionality of the judge's decision on concurrent creditors is given to the supervisory judge as the party who has the authority to distribute the proceeds from the sale of the bankrupt debtor's assets. Concurrent creditors will receive results based on Article 189 Paragraph (3) Law Number 37 of 2004 concerning Bankruptcy and Postponement of Debt Suspension Obligations.</em>

Analysis Of Cross-Border Insolvency Dispute Resolution In Insolvency Practice In Indonesia

The resolution of Cross-Border Insolvency disputes in bankruptcy practice in Indonesia, with a focus on court decision Number 26/PAILIT/2010/PN.Niaga.JKT.PST. This highlights the lack of specific regulations in Indonesian law regarding cross-border bankruptcy, which causes legal uncertainty in resolving such disputes. This research uses a normative juridical approach to examine the application of rules and norms in positive law. The case analysis includes a bankruptcy petition against Manwani Santosh Tekchand filed by OCBC Securities Private Limited, which raises issues regarding the evidentiary strength of the special power of attorney granted to the Attorney. This article emphasizes the importance of clear rules and legal certainty to protect creditor rights and facilitate the execution of debtor assets. The court decisions discussed in this article highlight the legal implications of cross-border bankruptcy resolution, stating that foreign court decisions can be valid and convincing evidence regarding debts and the relationship between debtors and creditors if they meet formal requirements as authentic deeds. However, foreign court decisions cannot be recognized and implemented by Indonesian courts unless there is a ratified convention or the principle of reciprocity. The article concludes that the resolution of cross-border bankruptcy disputes in bankruptcy practice in Indonesia is limited by existing regulations and suggests the possibility of litigation or filing new bankruptcy applications based on debt instruments.

Determining The Company Debt Threshold In Order To Determine Bankruptcy Status

The Indonesian Bankruptcy Law has not been based on a philosophy that should be in accordance with the principles of the Bankruptcy Principle itself, where the philosophy of the Bankruptcy Law has not been able to explain debtors who have debts greater than their assets. The application of this principle should ideally be a condition for the debtor to be declared bankrupt, where if the debtor is insolvent (the debtor's assets are less than its debts), it is not enough if the debtor stops or fails to pay its debts. If the debtor's assets exceed its debts, then the settlement of the debt and credit should be done through an ordinary civil lawsuit. The application of bankruptcy regulations according to Article 2 of the Bankruptcy Law should not only be based on three aspects, which include the existence of debt, at least two (two) creditors, due time, and collectibles, but also the application of a minimum threshold of capital and assets owned so that the company can be monitored to see if it will be able to rise with the assets and capital it has.
 Keywords: threshold, company, bankruptcy

Esekusi Hak Tanggungan Akad Musyarakah Mutanaqisah

Ideally, Islamic banks analyze aspects of fairness between creditors and debtors when choosing the execution of debtor guarantees. In fact, it was found that the execution of dependent rights in Islamic banks, especially with MMQ (musyarakah mutanaqishah) contracts, was more beneficial to creditors and tended to tyrannize debtors. This study analyzes the theory of justice in the implementation of the execution of dependent rights by Islamic Banks against defaulting financing debtors with MMQ contracts. The goal is that transactions at Sharia Banks are always based on Islamic sharia rules and principles. This research applies qualitative methods with a rationale based on literature studies to analyze legislation, legal provisions and conformity to applicable regulations. The results of the study concluded that injustice occurs when the execution of dependent rights, the proceeds of the sale of the debtor's financing collateral assets default more harm the debtor.

Perlindungan Hukum Bagi Mantan Direktur Perusahaan Yang Tagihannya Ditolak Dalam Pencocokan Piutang

Abstract
 The journal entitled Legal protection for former directors whose wages are not paid and whose bills are rejected in bill matching discusses the issue of whether legal protection is for ex-directors whose wages are not paid and whose bills are rejected in matching bills. The research method uses conceptual approach which means solves problems using literature and views of legal scholars and also using statue approach which means solves problems using applicable laws and regulations. The results of the study stated that the refusal to submit a bill submitted by the former director for unpaid wages is a debt because it will not erase a debt if there is no fulfillment by paying the owed wages to the former director according to what was agreed. Then Legal protection for former directors whose wages are not paid and whose bills are rejected in bill matching can be obtained through 2 (two) forms, namely preventive legal protection accommodated by the Civil Code, the Bankruptcy Law and Suspension of Debt Payment Obligations, the Labor Law and Constitutional Court Decision Number 67/PUU-XI/2013. Then repressive legal protection can be carried out in the form of other lawsuits based on the explanation of Article 3 paragraph (1) UUK-PKPU, which is filing a lawsuit against the board relating to the debtor's assets.

LEGAL PROTECTION OF THE AUTHORITY OF THE CURATOR IN THE MANAGEMENT AND SETTLEMENT OF BANKRUPT ASSETS

This writing aims to determine the legal protection for the curator in exercising the authority to manage and settle bankrupt assets as well as the duties and authority of the curator in managing and controlling the bankrupt debtor's assets. This paper uses the normative juridical law research method by conducting a study and analysing laws and regulations related to the problem under study so that the results of the research above in the provisions of Law Number 37 of 2004 concerning Bankruptcy and Suspension of Obligations for Payment of Debt do not guarantee legal protection for curators in carrying out their duties of managing and dealing with bankruptcy assets. Article 50 of the Criminal Code provides protection for curators who carry out their duties based on statutory regulations.

Evaluation of Reliability Parameters of a Cement Manufacturing Plant by using Supplementary Variable Technique

In particular, Article 40 of Law Number 37 of 2004 concerning Bankruptcy and PKPU regulates that the curator may not take an inheritance during bankruptcy that descends to the bankrupt debtor unless it benefits the bankrupt assets. This piece specifically warns the curator not to become a bankrupt banker by being cautious when collecting the debtor's assets. In reality, it is not unusual for the debtor's heirs to decline to provide security for the seizure of the deceased debtor's assets to be used as collateral for repayment of the debt by the creditor. This refusal increases the weight of losses on unresolved/unsettled receivables for creditors as a result of the debtor's passing. Naturally, this raises issues with the legal elements of warranties and contract law. There are rights and responsibilities that cannot be resolved, and it is still unclear how the heirs of a deceased debtor who still owes money to creditors will be treated. The emphasis of this study is on the distinction between the bankruptcy-related positions of the debtor who receives an inheritance (the debtor) and the debtor who inherits it. The mechanism for listing debtor's assets as bankruptcy assets is the second study's main focus. Keywords: Line Balancing, Moodie Young, Line Efficiency, Balance Delay, Smooth Index

Suspending the Debtor’s Imprisonment in Light of Corona Pandemic: A Study in the Light of the Provisions of Jordanian Legislation and Islamic Sharia

Objectives: The research aims to reconsider the legality of the debtor's imprisonment between the Jordanian legislation and Islamic jurisprudence as a result of stopping the debtor's imprisonment and freezing his criminal prosecution under defense order no. (28/2021) in the event of a debt maturity or writing checks that are not offset by a balance, in order to control the epidemiological situation and take into account the economic conditions associated with COVID-19. Methods: The study adhered to both the descriptive and analytical approaches by reading the defense orders and the pertinent documents, analyzing them, and comparing the rules of positive law and Islamic Sharia. Results: The study found that the current guarantees relating to the seizure of the debtor's assets and barring him from traveling are ineffective at enforcing the creditor's rights, which highlights the need to create new guarantees that are more effective and find new ways to settle disputes between the parties to the debt. It also emphasizes the need to keep the detention procedure in place as an effective way of applying moral pressure to the debtor to repay the debt. Conclusions: The research recommended the need to exploit modern technology and techniques in (preventive protection) through credit disclosure of the status of customers before granting them the debt, and in (post-protection) by finding alternatives to imprisonment due to the inability to implement it currently, such as the application of the electronic bracelet system, which is followed by obligating the debtor to perform work under remote security monitoring.

Perlindungan Hukum Bagi Pihak Yang Dirugikan Dalam Perjanjian Kerjasama Pembiayaan Biji Nikel

Introduction: This article analyzes the business cooperation agreement which in practice, the principle of balance is often ignored, so that when a default occurs, the creditor consortium cannot force the debtor to carry out its achievements through the execution of the debtor's assets as collateral, due to the lack of collateral provided by the debtor.Purposes of the Research: The purpose of this article is to find out the implementation of the financing cooperation agreement between PT Kingstone Anugerah Perkasa and PT Bumi Putera Abadi and PT Mineral Trobos, and to find out about legal protection for the aggrieved party in the financing cooperation agreement between PT Kingstone Anugerah Perkasa and PT Bumi Putera Abadi with PT Trobos Minerals. Methods of the Research: The research method used is normative juridical with a statutory approach conseptual approach and case approach, and uses secondary data and is analyzed qualitatively.Results of the Research: The financing cooperation agreement between PT Kingstone Anugrah Perkasa and PT Bumi Putera Abadi and PT Mineral Trobos did not go well. This is because in the post-contract/implementation phase of the agreed contents of the agreement, PT Mineral Trobos defaulted by not carrying out its obligation to complete the permit no later than 60 days from the signing of the financing cooperation agreement, so that PT Kingstone Anugrah Perkasa and PT Bumi Putera Abadi have the right to filed a lawsuit for default of PT Mineral Trobos to the Kendari District Court.

РОЛЬ УПОЛНОМОЧЕННОГО ОРГАНА В ВЫЯВЛЕНИИ И ПРЕДОТВРАЩЕНИИ ПОСЛЕДСТВИЙ НЕДОБРОСОВЕСТНЫХ ДЕЙСТВИЙ СУБЪЕКТОВ ОТНОШЕНИЙ НЕСОСТОЯТЕЛЬНОСТИ

The Federal Tax Service of Russia, within the framework of performing the functions of an authorized body in cases of bankruptcy of legal entities, is vested with certain powers to protect the interests of the Russian Federation as a creditor. High requirements for high-quality support of bankruptcy procedures increase the attention of the scientific community to the problem of improving the activities of the authorized body to identify and prevent the consequences of dishonest actions of insolvency entities. The purpose of the study is to summarize the experience of the authorized body in identifying dishonest actions of the debtor and its controlling persons, preventing their consequences in the framework of a bankruptcy case, as well as developing methodological recommendations for improving the preparation of a package of evidence confirming the grounds for bringing the persons controlling the debtor to subsidiary liability. Based on the results of the analysis of arbitration practice, typical dishonest actions of the beneficiaries of the debtor's bankruptcy were identified and systematized (withdrawal of the debtor's assets, encumbrance of the debtor's obligations with artificial accounts payable of affiliated persons, implementation of various schemes (transactions) aimed at evading payment of accounts payable, etc.), methods of preventing body of the consequences of bad faith actions of the subjects of insolvency relations, as well as a methodological approach to justifying the holding of the controlling debtor of persons to subsidiary liability for bad faith actions against the debtor and independent creditors. The role of the authorized body in accompanying bankruptcy procedures is much broader than ensuring the interests of the state as a creditor, therefore, the implementation of the proposed methodological approach to the economic justification of the reasons (grounds) for bringing the persons controlling the debtor to subsidiary liability, which includes several successive stages, will improve the standards of proof in cases of bankruptcy, reduce errors of justice and, ultimately, improve the effectiveness and efficiency of the institution of bankruptcy.

Actual value of the debtor's assets in case of liability insurance of arbitration managers. Regarding the application of Article 24.1 Bankruptcy Law

Actual value of the debtor's assets in case of liability insurance of arbitration managers. Regarding the application of Article 24.1 Bankruptcy Law

Kedudukan Aset Milik Pihak Ketiga Yang Dijadikan Sebagai Boedel Pailit Oleh Kurator Berdasarkan UU Kepailitan Dan UU Hak Tanggungan

Mortgage is one type of guarantee that lenders are interested in offering loan facilities for because it is seen as a good guarantee and simple to implement. In reality, the guarantee granted by the Debtor to the Creditor bound by this Mortgage does not always belong to the Debtor but rather to a Third Party who has hand over their assets as guarantee for the payment of the Debtor's obligation. Of course, this only becomes a problem if the debtor is unable to repay the creditor; in that case, the creditor may decide to use the bankruptcy process as the last resort to address the debt issue. There are frequently issues with the Curator's power to add all assets connected to the Debtor's assets, including Third Party assets pledged as collateral, to the bankrupt estate. With reference to the Law Number 37 of 2004 on Bankruptcy (K-PKPU Law) and Law Number 4 of 1996 on Mortgage, this study intends to perform a deeper analysis relating to the authority of the Curator as well as the situation of assets belonging to Third Parties bound by Mortgage in the bankruptcy case. This study was put together using a qualitative method and a normative juridical approach. Data were collected online through a literature review, and they were processed in an analytical descriptive way. The findings of this study show that, first, the new Curator has the ability to enter Third Party assets if, after two (two) months, Separatist Creditors have not exercised their right to execution as provided for in Article 59, paragraphs (1) and (2) of the K-PKPU Law. Second, under Article 59(1) of the K-PKPU Law, which refers to the principle of lex posteriori derogat legi priori and views the context of the case as bankruptcy, the Curator is actually given the authority to conduct auctions due to the position of assets belonging to Third Parties in the bankruptcy estate, then to resolve this case related to the position of Third Party assets in the bankruptcy estate refers to the K-PKPU Law.

LEGAL STUDY ON THE ACTION OF PKPU ADMINISTRATORS THAT CONDUCTED ILLEGAL INCREASE OF CREDITORS’ RECEIVABLES

This study aims to analyze the implementation of the duties and authorities of the Administrator in compiling the number of PKPU Creditors' receivables and the legal liability of the Administrator who illegally enlarges the number of PKPU Creditors' receivables using a normative juridical approach. This study concludes with several results. Firstly, the task and authority of the Administrator in compiling the number of Creditors' receivables based on Law Number 37 of 2004 is to receive all claims from Creditors and then match these claims with notes and reports held by the Debtor. In practice, some Administrators do not match claims in compiling the number of receivables. Secondly, the Administrator who illegally enlarges the number of PKPU Creditors' receivables can be held legally responsible based on Law Number 37 of 2004. If it has harmed the Debtor's assets, the Administrator can be sued through civil law based on Articles 1365 and 1366 of the Indonesian Civil Code.

Problems of Justice in Legal Protection Efforts against Banks as Separatist Creditors related to Execution of Collateral Tied with Mortgage Rights on Bankrupt Debtor's Assets

Introduction: The rights of banks as separatist creditors in the UU-KPKPU cannot be implemented. Banks also often get a share that is not under the amount of debtor debt, causing injustice.Purposes of the Research: This study aims to analyze and explain the forms of justice problems in legal protection efforts against banks as separatist creditors related to the execution of collateral tied with mortgage rights on the assets of bankrupt debtors and their solutions.Methods of the Research: This research uses normative legal research. Research materials were used, namely secondary data and primary data as a support. This research material was collected by document study and interviews. The material that has been collected is then processed and analyzed using a qualitative approach, which is then drawn to conclusions using the deductive method.Results of the Research: There are two forms of the problem of justice in the legal protection of banks as separatist creditors related to the execution of collateral tied with mortgage rights on the assets of the bankrupt debtor. First, the neglect of bank rights as separatist creditors by UU-KPKPU can be seen in the provisions of Article 56 paragraph (1) and 59 paragraph (1) which contradicts Article 55 paragraph (1). Second, banks as separatist creditors often get a share that is not under the amount of debt of the bankrupt debtor. The author suggests that the UU-KPKPU be changed based on distributive justice which requires proportional distribution.

THE EFFECTIVENESS OF RESTRUCTURING POLICY IN BUMN BANKS DURING THE PANDEMIC

The pandemic condition has made many sectors affected, one of which is banking. Bank Indonesia is one of the central banks that provide regulatory stimulus to maintain the stability of the banking system in the form of financing relaxation policies or waivers in customer financing installments. It is hoped that the level of health of the national banking can be well conditioned. This research aims to find out whether the restructuring policy that has been programmed by the government has been effective. This research was conducted at a state-owned bank in the Madiun Residency. The method used in this study was a simple regression analysis using the help of SPSS Version 26. The results of this study show that the restructuring policy programmed by the government has been effective. It is proven by the improvement of problematic NPLs after the restructuring, where previous debtors had difficulty in paying their obligations. Restructuring of state-owned banks can be carried out in several aspects, namely reducing interest rates, unemployment of credit interest arrears, reducing principal arrears, extending the term, taking over debtor assets, and converting loans into temporary capital.

Perlindungan Hukum bagi Debitor di Indonesia Sehubungan Tidak Adanya Insolvency Test

The embodiment of legal protection for debtors whose companies still have the prospect of continuing but the debtor's financial condition in a state of inability to pay must be declared bankrupt due to the absence of an insolvency test which is considered contrary to the application of the going concern principle, which is related to the existence of expectations regarding the concept of the Indonesian Bankruptcy Law. in the future, especially regarding the shift in the purpose of the Bankruptcy Law, where initially the Bankruptcy Law aimed to liquidate debtor's assets, so it is hoped that in the future the Bankruptcy Law will in its development change as a means of reorganizing debtors in continuing their business activities, where this goal is not embodied in Law Number 37 of 2004 concerning Bankruptcy and PKPU.