Position Of Creditors Research Articles

The Impact of Corporate Governance and Fair Value Accounting on Debt Contracts

This paper investigates the theoretical relationship between corporate governance, fair value accounting, and debt contracts. It primarily examines the individual impacts of corporate governance and fair value accounting on debt contracts, while also exploring the influence of corporate governance on fair value accounting. The study emphasizes the importance of considering the interests and legal status of creditors in the context of debt contracts. The findings indicate that strong corporate governance can reduce the likelihood of debt default and that the company’s restructuring costs in the event of a default determine whether improved corporate governance will increase or decrease debt costs. Additionally, the study reveals that the strength of corporate governance affects the value relevance of fair value accounting. However, the impact of fair value accounting on debt contracts is not inherently positive or negative; for instance, companies may use fair value adjustments with manipulative intent to enhance performance. Ultimately, the research highlights that discussions about corporate governance should not prioritize shareholder interests exclusively but also consider the legitimate position of creditors.

Implementation of Mortgage Rights on the Position of Creditors of Second Mortgage Holders in the Application for Auction Submission

Implementation of Mortgage Rights on the Position of Creditors of Second Mortgage Holders in the Application for Auction Submission

Legal Protection For Creditors Holding Mortgage Rights On Double Certified Owned Land

This article analyzes how legal protection is for creditors holding mortgage rights on land with multiple certificates. This article was prepared using doctrinal research methods with literature study using secondary data and analyzed juridically-qualitatively by examining applicable regulations. The Mortgage Law gives the right of droit de preference or priority to creditors holding mortgage rights. However, in practice, this right is often injured by disputes over collateral rights, one of which is the dispute over the issuance of multiple certificates. In these conditions, the Land Office as the agency that issues the certificate has legal responsibility for the emergence of two certificates for land which of course is very detrimental to creditors. This is regulated in Article 54 paragraphs (1) and (2) of the Regulation of the Head of BPN RI Number 3 of 2011 concerning Management, Assessment and Handling of Land Cases. The Land Office has the obligation to cancel one of the duplicate certificates and announce it to the public. Thus, this action was taken to ensure order and certainty in land matters and maintain the integrity and public trust in the land system, as well as protect the legal position of creditors holding mortgage rights to land.

Impact of dividends and capital intensity of labour on real wages in post-communist economies

This paper aims to verify gains and losses from foreign direct investment as well as outflow of capital in the form of dividends from Central and Eastern Europe. The topic of dividend outflow is currently at the centre of political as well as media interest. At the same time, it is prone to simplistic interpretations and possible political intervention might exert a significant negative social impact. The contemporary economic theory and empirical research are in relative consensus on the positive effects of foreign investment. Most notably, it increases capital endowment of labour. However, the questions that have not yet been resolved are the rate of intensity, phases and channels of foreign capital flows. The effect of foreign investment during the different phases of foreign life-cycle is practically unexplored. The need for this type of research does not arise in Western Europe’s economies as they are in a position of creditor compared to Central and Eastern Europe. Therefore, the article examines whether the outflow of dividends is associated with the deterioration of aggregate demand or an increase of export capacities. Through the panel regression method, these relationships are captured in Western Europe’s economies and compared with the Central and Eastern Europe’s economies. The effect of capital intensity and dividend outflow on real wages in the post-communist countries was examined. The findings break down the myth portrayed in the media concerning the cost of dividend outflow and, on the contrary, they confirm substantial benefits stemming from the capital inflow. Late stages of foreign investment cycle connected with dividend outflow do not bear any adverse effects. The high profitability of foreign-controlled enterprises is in line with the favourable wage development of domestic labour force.

Study of the Responsibility of Independent Appraisal Services of Bank Collateral Related to the Auction Value of Execution of Collateral Objects

In providing bank credit, collateral must be submitted for credit return. Collateral certificates/fixed assets are most favored by creditors/banks. The provision of credit by banks cannot be separated from the assessment of collateral first. The Internal Bank carries out the assessment, which can be done by the Public Appraiser or KJPP (Public Appraisal Service Office). The Public Appraiser will provide a report on the value of collateral submitted by the debtor to be used as a basis by the bank to determine the Ceiling (maximum amount of credit). The position of creditors who are more dominant in the process of granting credit will more or less affect the market value and liquidation of collateral. In this case, the debtor has a risk to the value of the collateral that the Public Appraiser has determined if the collateral goes bankrupt. This research uses a legislative and conceptual approach.

Pertanggungjawaban Negara Atas Keadaan Persero BUMN Yang Pailit

Bankruptcy is a situation that could occur in a state-owned company. Istaka Karya is one of several state-owned companies. After going through several years with financial conditions that never improved, various news reports about this company with various active participation in the world of construction, finally officially closed due to bankruptcy in 2023, with a series of debts to creditors as well as arrears in salary payments to its employees. This research aims to analyze the legal certainty obtained by creditors, as well as the state's responsibility in the event of the bankruptcy of a state-owned company. The results of this research show the weak position of creditors in obtaining their rights. Therefore, to provide legal certainty, not only based on Law Number 37 of 2004 concerning Bankruptcy and Postponement of Debt Payment Obligations, but the directors must also be fully responsible for all debts to creditors using personal assets owned, but not including assets that have been declared bankrupt by the Commercial Court.

INOVASI STRATEGI BISNIS PEMBIAYAAN LEASING PASCA PUTUSAN MAHKAMAH KONSTITUSI NOMOR 18/PUU-XVII/2019 DAN NOMOR 2/PUU-XIX/2021

The Constitutional Court's decision has degraded the executive power of fiduciary guarantees so that the creditor's position no longer has legal certainty. This research examines and analyzes innovation in financing business strategies after Constitutional Court Decision Number 18/PUU-XVII/2019 and Number 2/PUU-XIX/2021. The conceptual approach is used in this research, which is legal research with a perspective. Deductive syllogism is used as a technique for analyzing primary and secondary legal materials as well as data that can be collected through literature study. The results of this research show that financing agreements, especially leasing, have been proven not to fulfill one of the elements of the requirements for the validity of the agreement because they violate the law so they are null and void, the Constitutional Court's decision degrades the executorial power of the fiduciary guarantee certificate so that the creditor's position no longer has legal certainty, based on the principle Freedom of contract is a business strategy that can provide legal certainty for creditors.

The Legal Standing of the Creditor Who Made a Marital Separation Agreement as a Petitioner for Bankruptcy

Provisions regarding a marital agreement which can be made during the time the husband and wife are in a marriage bond can be used as an excuse by a husband and wife to separate a receivable which initially constitutes one receivable and is then to be made into two receivables to create two creditors so that they fulfil the requisites of a petition for bankruptcy and PKPU. Such a condition has occurred in the bankruptcy and PKPU petition submitted by Stefanus Maria Sudjanto. S and his wife to Goenawan Rahardja. Motivated by the phenomenon, this research is aimed at examining the legal consequences of marital separation agreements for a joint receivable in a bankruptcy and PKPU petition and determining the position of creditors in the bankruptcy and PKPU petition for a receivable that had been made before the marriage separation agreement made. To achieve these objectives, we use the normative legal research method with three approaches–statute approach, conceptual approach, and case approach. We use primary legal materials, secondary legal materials and tertiary legal materials. These legal materials were collected through a literature study. These materials were analyzed using a qualitative analysis technique. The results show the marital separation agreement made by Stefanus Maria Sudjanto. S and his wife are null and void, because it violates the legal requirements of an agreement, namely Article 1320, subsection (4) of the Civil Code. In addition, a marital agreement shall also be made in good faith in compliance with the provisions of Article 1338. The marital separation agreement, made by Stefanus Maria Sudjanto. S and his wife was made not in good faith; it is null and void. Thus, the joint receivable of Stefanus Maria Sudjanto. S and his wife having been made before the marriage agreement remains as a joint receivable. Therefore, based on the definition of debt and the principle of balance, a husband and wife who have harmed the debtor and then enter into a marital separation agreement while in the marriage bond is only a creditor and does not have legal standing as two creditors in the submission of a bankruptcy statement.

Kepastian Hukum Terhadap Perjanjian Pembiayaan Didahului SKMHT Tanpa APHT

Ownership of land rights is an interest for Indonesian that is used for various purposes, one of which is as collateral in a financing agreement. The advantage of being a collateral object is to have a stable value and tend to increase. The purpose of this study is to analyze the legal protection of creditors who experience problems when knowing debtor defaults and their position of creditors who only have SKMHT without APHT due to notary negligence. This research method is qualitative with a normative juridical research type. The results of the research are protection for SKMHT holders enforced despite the negligence of the Notary/PPAT. In addition, the recommendation that the PPAT/Notary should have SKMHT management to avoid legal problems when debtor defaults.

Reasons and Results of the 28th Defense order in Jordan under the Coronavirus Pandemic

The aim of this study is to investigate the rationale behind Defense Order Number 28 in response to the Coronavirus Disease 2019 (COVID-19) pandemic and its impact on the legal rights of creditors. The study employed an analytical methodology, examining the defense orders, local laws, international conventions, and court decisions. The main findings of the study indicate that the Jordanian case appears to favor debtors, as it allowed for the postponement of imprisonment from March 2020 until the end of December 2022, without offering adequate solutions to protect the rights of creditors. The only recourse given to creditors was the option to request the competent judicial authority to prevent the debtor from leaving the country. On an international level, the study reveals that Defense Order Number 28 was implemented to meet Jordan's international obligations. However, this order contradicts a fundamental principle of Civil law, which is to support and uphold the rights of the right holder. By prohibiting the creditor from employing essential means to claim their rights from the debtor, the order undermines the creditor's position. In conclusion, the study suggests that Jordan is in the process of abolishing imprisonment sentences in civil and commercial transactions, yet it does not provide adequate solutions to safeguard the rights of creditors during this transition.

The Position of Creditors of Individual Collateral Holders In Insolvency Law

This researcher aims to find out about the rights of creditors of individual collateral holders in the norms of Law No. 37 of 2004 on Insolvency and Delay of Debt Payment Obligations. The researcher's method uses norrmative law with a statutory problem approach and a conceptual approach. Broadly speaking, the position of individual guarantees in the norms of the Bankruptcy Law if the insurer and debtor are declared bankrupt simultaneously, then it is a concurrent creditor and all the assets of the insurer as bankruptcy property. In the process of managing and releasing bankruptcy property, that the position of concurrent creditors in the process of division of bankruptcy property is at the bottom, because in principle it can but if the creditors are many while the property is few, then potentially do not get the share or even if it can be very small percentage. So that the position of creditors of individual collateral holders who are concurrent creditors is very weak in the process and distribution of bankruptcy property. When the debtor is declared bankrupt while the insurer is not declared bankrupt, then all the assets of the insurer do not include bankruptcy property. So creditors have the right to make a default lawsuit in accordance with Article 1243 kuhper to the insurer, if the process and enactment of the debtor's bankruptcy property is insufficient creditor debt. The mechanism of fulfilling achievements to individual guarantee holder creditors, namely creditors can execute the collateral object directly without having to apply for bail and execution to the court, because after the bail object is registered with the guarantee institution, the certificate will be issued as a guarantee that has executory power.

The Effect of the Execution of the Sale of the Right Object on the Position of Bank Creditors

The results of this study show that the right of liability is the object of guarantee that is most in demand by creditors (banks) as debt collateral. The value of the rights contained in thecertificate of rights of dependents has an important influence in determining the position of creditors as creditors who have preferential rights or only limited to as a concurrent creditor. If the value of the dependent rights has a greater value than the debtor's debt, then the creditor's position as the holder of the liability right is the preferred creditor, which takes precedence repayment of it than other creditors. However, the determination ofthe creditor's position as a preferred creditor or not can also be viewed from the proceeds of the sale of the object of liability from the results of auction execution. If the selling price of theobject of liability is greater than the debtor's debt, the creditor has the right to take precedence over full repayment by taking the proceeds Net sales are only limited to debtors. Meanwhile, if the proceeds from the sale of the object of liability are smaller than the debtor's debt, then the remaining debt of the debtor positions the creditor as a concurrent creditor meaning that the repayment of the remaining debtor is divided equally with other creditors

The Position of Creditors in Consumer Financing Agreements Due to Fiducian Guarantee Not Registered

Research with the title creditor position in consumer financing agreements as a result of fiduciary guarantees not being registered, will raise two problems as follows, first, what are the characteristics of consumer financing agreements with fiduciary guarantees, and second, how default is non-fulfillment of achievements or obligations set by certain parties in an engagement. The methodology used in analyzing the problems in this study uses a normative juridical method with two approaches, namely the statutory approach and the concept approach, to produce an in-depth analysis. Based on the discussion that has been carried out in the previous chapter, the following conclusions can be formulated: First, that the characteristics of consumer financing agreements with fiduciary guarantees. The agreement is made by default the contents of the agreement, and the agreement is the principal agreement. Furthermore, it is bound by a fiduciary guarantee agreement which is an assecoir agreement (additional agreement) to the main agreement. After an agreement is reached, then the fiduciary guarantee will be charged and the fiduciary guarantee will be registered in accordance with Government Regulation No. 21 of 2015. The position of the creditor does not register the fiduciary guarantee object as a concurrent creditor. Second, default is the non-fulfillment of achievements or obligations set by certain parties in an engagement. Default in the guarantee is said to cancel the guarantee agreement, and only the main agreement applies. The implementation of the execution of fiduciary guarantees can be done in 3 ways, in accordance with article 29 UUJF, the 3 ways are by means of executorial titles, parateexecutie and private sales. Legal protection for debtors in the forced withdrawal of fiduciary collateral objects that are not registered, namely there are preventive and repressive protections. And the settlement can be done peacefully (kindly), win-win solution or through consumer dispute resolution institutions such as BPSK.

The Position of Creditors in Consumer Financing Agreements Due to Fiducian Guarantee Not Registered

The Position of Creditors in Consumer Financing Agreements Due to Fiducian Guarantee Not Registered

Enforcement of the right to a bond of arrest in insolvency proceedings in Russia and Germany

The legal status of depositors and the manner in which their claims are met are the subject of close research. The problem of bail is little studied in Russian doctrine. The purpose of the present study is to formulate, on the basis of regulation and doctrinal thinking in Germany, where the right to a bond of arrest has been successfully applied, a framework for the exercise of the right of a bond of arrest in insolvency proceedings (bankruptcy) for Russian legislation. The main methods of the study are: Comparative law, which allows the study of the theoretical provisions of the right to bail and the proposal of appropriate legislative designs; as well as the historical-legal method combined with the systematic method of analysis of the problem under investigation. Synthesis, interpretation and teleological methods are also used. The German experience of the legal regulation of a creditor whose claims are secured by the seizure of property has been used in the analysis of the problems of a bond of arrest. The legal nature of the right to bail, which is the subject of debate in the doctrine of Germany and Russia, has been analysed. It has been concluded that the right to an arrest bond is a special right of bail, together with a contractual and legal bond. It is substantiated that there is a gap in Russian law regarding the legal position of a creditor in insolvency proceedings (bankruptcy) in the event of securing his claims by seizure of the debtor’s property. It is considered to be a breach of the balance between public and private interests. It is justified that the right to a bond of arrest is subject to the law of procedural law and proposals have been made to regulate the legal position of creditors entitled to a bond of arrest in insolvency proceedings (bankruptcy).

Enforcement of the right to a bond of arrest in insolvency proceedings in Russia and Germany

Creditors whose claims are secured by the debtor’s property have a privileged position in the insolvency proceedings. The legal status of depositors and the manner in which their claims are met are the subject of close research. However, the problem of bail is little studied in Russian doctrine. The purpose of the present study is to formulate, on the basis of regulation and doctrinal thinking in Germany, where the right to a bond of arrest has been successfully applied, a framework for the exercise of the right of a bond of arrest in insolvency proceedings (bankruptcy) for Russian legislation. The main methods of the study are: Comparative law, which allows the study of the theoretical provisions of the right to bail and the proposal of appropriate legislative designs; as well as the historicallegal method combined with the systematic method of analysis of the problem under investigation. Synthesis, interpretation and teleological methods are also used. Since the study of property rights in Germany has had a significant impact on the Russian doctrine, the German experience of the legal regulation of a creditor whose claims are secured by the seizure of property has been used in the analysis of the problems of a bond of arrest. The legal nature of the right to bail, which is the subject of debate in the doctrine of Germany and Russia, has been analysed. It has been concluded that the right to an arrest bond is a special right of bail, together with a contractual and legal bond. It is substantiated that there is a gap in Russian law regarding the legal position of a creditor in insolvency proceedings (bankruptcy) in the event of securing his claims by seizure of the debtor’s property. The preferential right of tax authorities to obtain satisfaction in insolvency proceedings in the attachment of taxpayer property, qualified as a legal security, introduced in Russian tax legislation, It is considered to be a breach of the balance between public and private interests. It is justified that the right to a bond of arrest is subject to the law of procedural law and proposals have been made to regulate the legal position of creditors entitled to a bond of arrest in insolvency proceedings (bankruptcy).

ANALISIS HUKUM PERUSAHAAN PEMEGANG SERTIFIKAT JAMINAN FIDUSIA DALAM MELAKUKAN UPAYA HUKUM TERHADAP DEBITUR YANG INGKAR JANJI

Abstract The purpose of conducting this research is to find out the legal relationship of finance companies in fiduciary guarantees and how the position of creditors is regarding fiduciary guarantee objects that are charged to customers/debtors. The method used is normative juridical, the legal materials used in this research are primary legal materials and secondary legal materials. As is known, it is often found that objects are burdened with fiduciary guarantees or are fiduciary more than once. This is done by the company in order to obtain loans from other creditors so that needs can be met. However, the fact that occurs in the field is that finance companies suffer a lot of losses due to the negligence of the debtor or the customer himself who reneges on the agreement and in the process of returning the vehicle unit in the hands of the debtor it is difficult to execute and even though using a fiduciary guarantee certificate there are still debtors who deny what has been agreed upon and agreed upon between the company and the debtor himself. Which then actually by placing a fiduciary guarantee certificate can guarantee creditors or the company in executing units from debtors who have broken promises or defaults. Keywords: Fiduciary Guarantee, Financing Company, Leasing.

Darkness on the Edge: Revisionary Black Radicalism in the Depression Era

Darkness on the Edge: Revisionary Black Radicalism in the Depression Era

Immovable-associated equipment in the CTC MAC Protocol: interactions between international interest and local interests under Chilean law

Abstract The Mining, Agriculture and Construction Protocol (MAC Protocol) of the Convention on International Interests in Mobile Equipment (Cape Town Convention or CTC), provides a major innovation in the CTC system by including the concept of ‘immovable-associated equipment’. Article VII of the MAC Protocol’s mandatory declaration regulates immovable-associated equipment and the interaction between the international law regime of the CTC and domestic law of potential State parties, such as Chile. This article addresses the interactions between the CTC’s international interest in MAC equipment and the local interest under Chilean law. Consequently, it explores which alternative provided by Article VII of the MAC Protocol’s declaration provides the best improvement for Chilean law in order to enhance creditor position and to promote asset-based financing in the case of immovable-associated equipment. For such purpose, the Chilean mortgage is considered as a relevant interest for the immovable-associated equipment and the CTC international interest is compared with the Chilean non-possessory pledge under a case-by-case analysis. The analysis focuses on the cases when MAC equipment is a movable good deemed as immovable by destination under Chilean law.

The value of the indicator «authorized capital» for lenders and lenders

The article explores the value of the indicator «authorized capital» for the analysis of accounting (financial) statements from the position of creditors and lenders of the organization. The author singled out the main interpretations of the «authorized capital» indicator, which are present in the economic literature. The article analyzes the need to generate information on the structure of the authorized capital. The main purpose of information about the size of the authorized capital is singled out in order to ensure the financial interests of creditors and lenders.