Suspension Of Payments Research Articles

Robo‐compliance in Australian employment services

AbstractSince the late 1990s, Australia's employment services have enforced mutual obligation compliance as part of a transition to a disciplinary regime of conditional welfare. In recent years, the digitisation of employment services has extended the disciplinary approach to self‐activation. Notably, self‐activation extends mutual obligation requirements so that online reporting is a condition of benefit eligibility, or a digital obligation, enforced by threats to financial security in the form of automated payment suspensions. Guided by recent developments in the conceptualisation of digital welfare to work programs, case study analysis is used to explore the ways the technologies of self‐activation have changed the location of power in mutual obligation compliance decisions. This shift represents a move from street‐level decision making to Robo‐compliance. The article discusses the significance of this shift in the digital administration of disciplinary social policy in employment services. It highlights the need for further empirical research to explore this shift and how it affects individuals whose social security payments depend on interactions with these technologies.

Judicial Decision Analysis on the Debt Restructuring of Inc. Insurance Jiwasraya (Case Study of Verdict No. 170/Pdt.Sus-Pkpu/2021/Pn Jkt.Pst)

Insurance is one way of anticipating risk. Insurance function is ensures risks. However, sometimes insurance companies fail to pay so they cannot fulfill their ability to pay their debts to the policy owner, as experienced by Inc. Insurance Jiwasraya. This legal research aims to determine the arrangements for payment of insurance companies debts to insurance policy holders in Delaying Debt Payment Obligations.The Method used in this legal research is a normative juridical approach. The technique of data collection is done by library research. From the results of the research conducted, it was found that debt restructuring arrangements are regulated in Article 222-294 of Law No.37 of 2004 concerning Bankruptcy and Suspension of Payment but are not regulated in detail. The settlement through this Suspension of Payment is discussing the peace plan with a debt restructuring pattern, one of which can be done by rescheduling or reconditioning.

Klasifikasi Kegagalan Investasi Reksa Dana Sebagai Utang dalam Kasus Penundaan Kewajiban Pembayaran Utang Terhadap Manajer Investasi Dikaitkan dengan Dengan Undang-Undang Nomor 8 Tahun 1995 dan Undang- Undang Nomor 37 Tahun 2004

Along with globalisation, economic development continues to change dynamically in order to achieve success in national economic development. National economic development is the development of equitable economic growth for the greatest prosperity of all Indonesian people based on the principle of kinship in accordance with Pancasila and the 1945 fourth amendment of the Republic of Indonesia. This economic development is marked by the development of a variety of transactions or economic activities, one of which is investment or capital activities through the capital market such as mutual fund investments made through the role of investment managers. In carrying out its business activities, there is a risk of default that can result in a Suspension of Payment against the Investment Manager, one of which is the case of Central Jakarta District Court Decision Number 78/Pdt.Sus-PKPU/2020/PN Niaga Jkt.Pst. This research aims to examine the accuracy of the consideration of the Central Jakarta District Court judge in the related decision regarding the qualification of investment losses as a default charged to the Investment Manager, as well as the judge's consideration in accepting the suspension of payment application against PT Emco as the Investment Manager by the Investor. This research uses the juridical-normative method, which prioritises the use of literature material from positive law as a source with the results of the research described descriptively. The results of this study show conclusion that can be drawn. The judge's consideration in the relevant decision is not correct because the responsibility for default should be borne by the issuer, in addition, the judge's consideration does not conduct further investigation regarding the origin of the compensation agreement between the Investment Manager and the Investor.

Juridical Analysis of PKPU Decision by The Court on Application for PKPU Revocation by The Debitor

The purpose of this study is to find out how the judge's consideration in revoking the Delay of Debt Payment Obligation on the request of the debtor who has been determined to be Debt Payment Suspension, but there are findings of the calculation of the management team of Debt Payment Delay which states that the assets (Activa) of the debtor are still larger. of obligations (liabilites) so as to ask the Court to revoke the Suspension of Debt Payment Obligations. In addition, it is necessary to know how the legal impact that will be received by debtors and creditors on Decision Number: 53/Pdt.Sus-PKPU/2021/PN.Niaga.Jkt.Pst. This study applies a normative juridical research method that makes court decisions as primary legal material and occupies a position after legislation. The primary legal data or materials analyzed in this study are court decisions, namely Decision Number: 53/Pdt.Sus-PKPU/2021/PN.Niaga.Jkt.Pst dated April 12, 2021 and Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations. Based on this research, it can be concluded that the application submitted by the debtor in the revocation of the Suspension of Debt Payment Obligations is appropriate because the revocation of the Suspension of Debt Payment Obligations is carried out by the Court based on the provisions stipulated in Article 295 Paragraph (1) of Law Number 37 of 2004 concerning Bankruptcy and Postponement Obligation for Payment of Debt, so that the Central Jakarta District Court has the authority to revoke the Suspension of Obligation for Payment of Debt at the request of the debtor.Keywords: Postponement of Debt Payment Obligations; Revoke PKPU; Bankruptcy; Commercial Court.

KEDUDUKAN HUKUM PENGADILAN NIAGA DALAM KERANGKA SISTEM KEKUASAAN KEHAKIMAN

In the judicial power system that applies in Indonesia based on the 1945 constitution, there are four judicial bodies whose existence is recognized, namely the general court, the religious court, the state administrative court, and the military court. In addition, the law on judicial power also recognizes the existence of a special court as a specialty to adjudicate certain cases, one of these special courts is the commercial court which is authorized to adjudicate cases of bankruptcy and suspension of payment. However, the existence of the commercial court has not been regulated in a separate law, even though the regulation of the commercial court in a separate law is very important, because in practice the commercial court is not only authorized to adjudicate bankruptcy cases but is also authorized to adjudicate cases in the field of intellectual property rights.

EKSEKUSI JAMINAN BERDASARKAN UNDANG-UNDANG NOMOR 37 TAHUN 2004 TENTANG KEPAILITAN DAN PENUNDAAN KEWAJIBAN PEMBAYARAN UTANG

The background of this research is that the imposition of a postponement of debt payment obligations makes it easier for debtors to continue paying their debts and there are also legal consequences of delaying debt payment obligations. The purpose of this study is to understand the implementation of suspension of debt payment obligations and the legal consequences of confiscation status and execution of guarantees based on Law Number 37 of 2004 concerning Bankruptcy and Suspension of Payment of Debt Obligations. This study uses a normative method by analyzing problems with laws and related literature. The conclusion of this study is that the imposition of postponement of debt payment obligations only applies to concurrent creditors. The legal consequences of delaying debt payment obligations for confiscation status and execution of collateral have been regulated in Article 246 of Law Number 37 of 2004 concerning Bankruptcy and Suspension of Obligations for Debt Payment that the suspension of confiscation and execution of collateral applies during the process of delaying debt payment obligations so that the status of confiscation and execution of guarantees during the postponement of debt payment obligations to be postponed.

Penentuan Utang yang Telah Jatuh Waktu pada Click-Wrap Agreement yang Tidak Mencantumkan Klausul Jatuh Waktu Utang

Bankcruptcy and Suspension of Payment law is a great solution for debitor who have debt problems with their creditors. Debtors can be declared bankrupt or Suspension of Payment if the debtor is simply proven to have debts to 2 (two) or more creditors and is simply proven to have "a debts that has become due and payable”. The existence of "a debts that has become due and payable” is one of the fundamental things in bankruptcy or Suspension of Payment cases. In today's world, determining the existence of “a debts that has become due and payable” becomes difficult. The many new forms of agreements and clauses in the world of business law make new difficulties in proving the existence of “a debts that has become due and payable” in bankruptcy and Suspension of Payment cases. These difficulties can be found in the click-wrap agreement. Click-wrap agreement is an electronic agreement that uses standard clauses. The unilateral determination of clauses in click-wrap agreements often creates problems in practice. One of the problems that occur is a dispute about the determination of a debts that has become due and payable that comes from the click-wrap agreement between the debtor and the creditor. This is because click-wrap agreement makers often don't specify a debt maturity date in the agreement. Based on the explanation above, this research will examine and analyze the determination of the existence of "a debts that has become due and payable" from click-wrap agreements that do not regulate the debt maturity clause.

Pengaruh Pembiayaan Murabahah, Mudharabah, Dan Musyarakah Terhadap Profitabilitas

This research aimed to show the effect of murabahah, mudharabah, and musyarakah financing on the profitability of Islamic commercial banks. The research is a causal associative with a quantitative approach. The research population is Islamic commercial banks in Indonesia. The sampling technique used non-probability sampling with a purposive sampling method and obtained nine samples. The data analysis technique used descriptive analysis, classical assumption test, multiple linear regressions, coefficient of determination test, and t-test. The results showed that murabahah financing did not affect profitability. However, mudharabah financing has a positive effect on profitability. Meanwhile, musyarakah financing has a significant negative impact on profitability. This research can be a reference for banks to increase murabahah and musyarakah financing so that profitability can increase adequately. Then it can be a reference for the bank to be more selective if there is a suspension of payments on murabahah financing.

The Implementation of the Going Concern Principle in Bankruptcy and The Suspension of Payment to Protect the Economic Rights of the Parties

This study aims to analyze the regulation on the going concern principle and indicators to determine the continuity of prospective business activity. It employed normative juridical method that was based on library research. It obtained secondary data sourced from primary, secondary, and tertiary legal materials. The study was analytical descriptive because the author described the going concern principle by referring to the Law Number 37 of 2004 on Bankruptcy and Suspension of Debt Payment Obligations (the Bankruptcy Law). subsequently, the study analyzed it to find relevant indicators to determine whether a prospective business activity can continue or not. The data were analyzed using a qualitative juridical method. The results indicate that the sustainability of the debtor’s business is crucial for the fulfillment of the economic rights of the debtor and creditor, even though the law does not provide indicators to determine that the prospective debtor’s business will continue. For this reason, decisions regarding the business continuity of debtors are influenced by various internal and external factors and must be made by competent parties.

Student Loan Borrowers Potentially At-Risk When Payment Suspension Ends

Student Loan Borrowers Potentially At-Risk When Payment Suspension Ends

COVID-19 Lockdown Restrictions and Small Business Survival Strategy: Government Supporting Schemes

From antiquity to the present day, the contribution of small businesses to the economic development of a country is overwhelming. Nowadays, COVID-19 lockdown restrictions have exerted an outrageous impact on small businesses survival. In developing countries where government-supporting capacity is low, the severity is substantial. The present study predicts the impact of COVID-19 lockdown restriction and government supporting schemes on small business survival. To meet this purpose, the study primarily used PLS-SEM and binary logit models. The results confirmed that over 44% of small businesses would fail in the first month of lockdown restriction. Moreover, only 6% have cash reserve to survive twelve months. In this regard, the present study suggested that the government should have to abstain from total lockdown measures, without government-supporting schemes. As such, the study has examined the relative importance of COVID-19 based special loan, suspension of payments, withdrawal of restricted funds, and exemption of tax and penalty payments. Among these supporting schemes, COVID-19 based special loan is the most important government-supporting scheme followed by the suspension of interest and principal payments. However, the exemption of tax payments and withdrawal of restricted funds were not significant.

The Duties and Responsibilities of Curators and Supervisory Judges in the Establishment of Bankruptcy Property

Duties and responsibilities of curators and supervisory judges in the enactment of bankruptcy property under Law Number 37 of 2004 concerning Bankruptcy and Suspension of Payment. This research aims to find out the Duties and Responsibilities of Curators and Supervisory Judges in the enforcement of bankruptcy property when debtors sell bankruptcy property that harms creditors. This research uses Normative research methods, namely: Library research is research that uses secondary data, namely data sourced from library materials, studying various scientific writings, laws and regulations, documents and other sources related to the material discussed. The result of this research is that curators have a duty to manage and settle bankruptcy property under the supervision of supervisory judges appointed by Commercial Court Judges. Curators also have a personal responsibility if in carrying out their duties he performs kelalalian so as to cause losses to bankruptcy property. While the Supervisory Judge has a duty to supervise the curator in carrying out his duties in cleaning up the bankruptcy property. If the debtor commits a legal action on the bankruptcy hrta that harms the creditor, then the curator based on the mandate of Article 16 of the Bankruptcy Law and PKPU can file an Actio Pauliana lawsuit to the Commercial Court which aims to cancel the legal actions committed by the previous debtor so that the bankruptcy property can be maximized to be distributed to the creditors.

The Corporate Rescue for Companies during the COVID-19 Pandemic in Indonesia: Prospects for the Concept of Deeds of Arrangement and Administration Order

The COVID-19 pandemic has an impact to all countries, including Indonesia. This raises the problem of debt default. Rather than bankruptcy and suspension of payment (PKPU), it is better to look an alternative that become a savior for the company. This research explores the concept of Deeds of Arrangement and Administration Order according to United Kingdom law, and looking at the prospects for the concept of Deeds of Arrangement and Administration Order for Indonesia. It is a normative juridical research, and it was processed with a qualitative approach supported by a comparative legal analysis. The conclusions of this research show that the concepts of the Deeds of Arrangement and Administration Order are similar to the bankruptcy and PKPU schemes also have differences. The differences on the Deeds of Arrangement are how to register, the agreement is passed on a non-litigation basis and determined by the court, and no publication is required. The differences on the Administration Order is the mandatory debtor's company management taking-over, the applicants, the administrators which can be appointed outside the court without court approval, and the administrator will make a corporate rescue proposal. The concept of the Deeds of Arrangement which is a contractual non-litigation and the Administration Order which provides a better corporate management role, is the right solution during the COVID-19 pandemic rather than bankruptcy and PKPU, as well as other litigation. The temporary character of the COVID-19 pandemic condition is the basis of this thought, so a solution concept that leads to maximization of the corporate rescue rather than liquidation, is needed.

The Petitioner’s Legal Standing In Verdict No.4/Pdt.Suspkpu/2018/Pn.Niaga Surabaya With The Case Of Loan Payment Suspension (PKPU) Based On Law No. 37 Of 2004

Law Number 37 of 2004 concerning Bankruptcy and Suspension of Loan Payment has governed the process of Bankruptcy and Suspension of Loan Payment for State-Owned Corporations in which the one who has authority to submit the petition is the Ministry of Finance as the supervisory agency of a State-owned Corporation. Issue to be raised by the writer in this research is the Legal Standing of the Petitioner in Verdict Number 4 / pdt.sus-pkpu / 2018 / PN.Niaga Surabaya which involves a State-Owned Corporation namely PT Merpati Nusantara Airlines with its Creditors. The issue is analyzed with the applicable laws and regulations, courts verdicts, journals or articles, theories, legal concepts and views of prominent legal scholars. This study aims to determine the legal standing of the petitioner for the Loan Payment Suspension and the legal consequences of this verdict by using normative juridical method. Based on the results of this study, the verdict of Loan Payment Suspension of PT Merpati Nusantara Airlines causes on the state of free from Bankruptcy and the airline can operate again. In addition, through existing Homologation, this company gets an injection of funds from a new company partner. Thus, by operating again, the company can make payment of loans to its creditors, including employees and former employees of the company..

Legal Consequences of Bankruptcy Towards Legal Position of Waqf Assets on Foundation

Introduction to the Problem: Based on Law No. 37 of 2004 on the Bankruptcy and Payment Suspension, the consequence of Bankruptcy decisions cover the total wealth of the Bankrupt Debtors at the time of the bankruptcy declaration together with that which they acquire during the bankruptcy. According to the Bankruptcy Act, there is no explicit limitation about the bankrupt assets, which raises the ambiguity and contradiction towards the Law No. 41 of 2004 on Waqf and Law No. 28 of 2004 on the amendment of Law No. 16 of 2001 on Foundations in determining the status of waqf assets as the one of Foundation’s wealth. Purpose/Objective Study: This research aims to determine waqf assets’ status on the bankrupt foundation and manage waqf assets in Indonesia’s bankruptcy proceedings. Design/Methodology/Approach: This type of research is normative legal research. The study employed secondary data from the literature review and analyzed it through the statute and conceptual approaches. Findings: This research shows that applying the laws and implementing bankruptcy proceedings should consider other laws, which means waqf assets that the foundation manages. The waqf law overrides the bankruptcy law that is affirmed on foundation law. The bankrupt foundation’s waqf assets will hand over to others’ foundations or legal entities that have the same purposes. Paper Type: Research Article.

Legal Means to Prevent Unjustified Payment of Pensions to Citizens Living Abroad

Introduction. The legislation of the Russian Federation provides for the possibility of paying most types of pensions to those citizens whose place of permanent residence is a foreign state. At the same time, permanent residence of a pensioner abroad increases the risk of unjustified payment of pensions and creates the need to use additional legal means aimed at preventing such consequences. Purpose. The purpose of the study is to describe the system of legal means that are aimed at preventing unjustified payment of Russian pensions to citizens living abroad, and to analyze the provisions of Russian and international legal acts that establish these legal means. Methodology. To achieve these goals, formal legal (dogmatic) method and comparative legal method were mainly used. Results. The system of legal means to prevent unjustified payments to those Russian citizens who permanently reside abroad includes legal means provided for by national legislation and the norms of international treaties concluded by the Russian Federation. The first group is represented mainly by additional obligations of the beneficiary to inform the pension agency about maintaining the grounds for payment of pensions (especially the duty to confirm being alive), failure to which, as a general rule, constitute grounds for the suspension of payment of pension. The legal means stipulated in international legal acts are based on the interaction of the competent institutions of the Contracting parties and are implemented, as a rule, without the participation of the pension recipient. Conclusion. The expansion of the list of States with which Russia has concluded international agreements on cooperation in the field of social security and the improvement of national legislation in this area should help reduce the number of cases of excessive payment of pensions to citizens living abroad.

Τhe Expansion of the Special Customs Regimes for the Improvement of Logistics

Logistics is one of the main sectors in Greece and constitutes an important source of income, representing 10.85% of GDP, and amounts to 19.8 billion euro (according to a study EEL in 2014). The developments that have been observed in the logistics sector in relation to the ports over the last years have created the need to make ports part of the supply chain in order to provide value added services to customers. Ports and especially those for container ships are evolving rapidly, providing integrated solutions for the improvement of logistics. The free trade zones, the freight transport centers and container transport hubs are part of the ports with an ever-increasing role in the management of supply chain and logistics. During last years, the port of Piraeus has become a central gateway to the European market from third countries. In addition to the port’s location, the warehouse center within the Piraeus Free Zone is also an important asset. The Free Zones are part of the customs territory of the European Community where non-Community goods which are under suspension of payment of import duties, taxes and commercial policy measures may enter and be stored until they are assigned a new customs regime [1]. Moreover, an important percentage of 3PL companies in Greece have been assigned as Authorized Economic Operators. This characteristic provides them the jurisdiction to use simplified customs procedures during import and export procedures. More and more companies are keen on using special customs regimes in Piraeus Port, as they intend to use Greece as their strategic hub in logistics in Europe or start trading within the country. Efficient procedures prior and during customs clearance can have a significant impact on eliminating delays, reducing administrative costs and improving the overall management of the supply chain. The benefits that will arise in favor of logistics by the use of special customs regimes are following: 1) Facilitating foreign trade by providing incentives for the collection and distribution of goods, thus contributing to the development of transit trade. 2) Support for business in logistics. 3) Possibility to provide VAT-exempt services in storage areas. 4) Possibility of transferring the ownership of goods, with VAT exemption, into storage areas. 5) Liquidity savings for firms. 6) Storage capacity of large quantities of goods. 7) Possibility of combining VAT facilities and simplified customs procedures. 8) Facilitating the channeling of domestic goods into international markets. 9) Investment and growth in work positions.

Sovereign Debt Standstills

As a response to economic crises triggered by COVID-19, sovereign debt standstill proposals emphasize debt payment suspensions without haircuts on the face value of debt obligations. We quantify the effects of standstills using a standard default model. We find that a one-year standstill generates welfare gains for the sovereign equivalent to a permanent consumption increase of between 0.1% and 0.3%, depending on the initial shock. However, except when it avoids a default, the standstill also implies capital losses for creditors of between 9% and 27%, which is consistent with their reluctance to participate in these operations and indicates that this reluctance would persist even without a free-riding or holdout problem. Standstills also generate a form of “debt overhang” and thus the opportunity for a “voluntary debt exchange”: complementing the standstill with haircuts could reduce creditors’ losses and simultaneously increase welfare gains. Our results cast doubts on the emphasis on standstills without haircuts.

Implementasi Restrukturisasi Dalam Prosesi Kepailitan Dan Penundaan Kewajiban Pembayaran Utang Di Indonesia

In order to enforce the law in the field of bankruptcy, there are procedures that must be carried out by every justice seeker, namely bankruptcy procedures and suspension of payment. The procedure for bankruptcy and the suspension of payment begins with the application, then followed by the decision of the bankruptcy statement or the suspension of payment and all legal appeals. Inside this process will be found restructuring between debtors to avoid bankruptcy, both in the form of debt restructuring and corporate restructuring. The purpose of this study is to have a description of the implementation on restructuring regarding bankruptcy and suspension of payment procedures, and also to be a guide for optimizing the restructuring plan arranged by the debtor. This research has reached the result that the restructuring in the process of bankruptcy and suspension of payments is mostly the debt restructuring and begins with a settlement plan. Rescheduling is the most popular bankruptcy restructuring model and suspension of payment. In addition it is a combination of rescheduling and asset sales, finding new equity, as well as debt to equity swap. Obsession arises in the process when the debtor arranges a restructuring plan. Some cases show that the debtor's understanding of the use of the restructuring plan is the main reason for the constraint. In addition, the implementation of the restructuring may fail in some cases, citing the lack of ability of the debtor to handle business and debt.

Climbing Mt. Debt

Federal student debt is different from other types of debt. Traditional time-driven repayment strategies of paying as much as you can as quickly as possible may be contraindicated, depending on your student debt balance and student debt-to-income ratio. The ability to repay using federal income-driven repayment (IDR) plans can greatly increase monthly cash flow and decrease total student loan repayment costs for most recent graduate veterinarians with student debt. This was true before COVID-19, but has been emphasized during the pandemic with the bonus interest and payment suspension applied to federally held student loans. The challenge is understanding the various loan types, repayment options available, and choosing an IDR strategy appropriate for each veterinarian’s circumstances. This often includes student loan forgiveness and a tax liability due 20 to 25 years after starting repayment. Using objective measures for analyzing repayment options, as well as knowing the rules and political landscape around federal student loans, a borrower can create a student loan repayment treatment plan that can lead to increased financial flexibility and improved financial wellness.