Suspension Of Payments Research Articles

What happens when the money runs out? Forest outcomes and equity concerns following Ecuador's suspension of conservation payments.

Payments for Ecosystem Services (PES) are now a prominent policy instrument for conserving tropical forests. PES are voluntary, direct, and contractual: an ES buyer pays an ES steward for adopting conservation practices for a fixed term. A defining feature of PES is its 'quid pro quo' conditionality, e.g. stewards are paid only if they deliver contracted conservation outcomes. Most studies on PES effectiveness focus on the steward's compliance with contract conditions. By contrast, the buyer's compliance has received scant attention despite the fact that PES programs across the globe have delayed payments, suspended re-enrollment, or shut down altogether. 'Use-restricting' PES depend on the continued flow of funding to pay for conservation; however, institutional, political, and economic factors can disrupt or terminate PES funding. What happens when the PES money unexpectedly runs out? Do stewards continue to conserve or revert to their former practices? We use mixed methods to study equity concerns and forest outcomes of an unexpected, two-year interruption in conservation payments to 63 private landowners residing in Ecuador's Amazon and enrolled in the Socio Bosque program, compared to similar landowners who did not enroll. Using quasi-experimental methods, we found that during the payment suspension period enrolled properties did not maintain their conservation outcomes where deforestation pressures were high (e.g. close to roads). Where deforestation pressures were low, enrolled properties continued to conserve more, on average, than similar properties not enrolled. Findings from 40 interviews and 26 focus groups conducted before, during, and after the payment suspension exposed profound landowner uncertainty regarding their contract rights. Poor official communication and imbalanced PES contract terms reinforced power inequalities between the state and rural ES stewards. Our work highlights the need to plan for financial volatility and to protect participants' rights in PES contract design.

Examining the Effects of Zero‐Dollar Unemployment Payment Sanctions*

Existing evidence has demonstrated that sanctions affect unemployment payment recipients’ behaviour. However, in addition to financial impacts, sanction application includes administrative processes. This study examines a feature of Australian unemployment benefits, whereby jobseekers not meeting requirements may face a zero‐dollar sanction (termed suspension). The results indicate a strong behavioural response, with previously suspended jobseekers 13.1 percentage points more likely to attend their next appointment. Further, ongoing behavioural change was observed, even for jobseekers with a history of previous non‐compliance. This suggests temporary payment suspension and associated administrative processes are effective at securing behavioural change, without the need for lasting financial impact.

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.

ANALISIS PUTUSAN PEMBATALAN PERJANJIAN PERDAMAIAN HOMOLOGASI PADA KASUS KEPAILITAN PT NJONJA MENEER (STUDI KASUS: PUTUSAN PENGADILAN NIAGA SEMARANG NOMOR 11/PDT.SUS-PAILIT/2017/PN NIAGA SMG. JO. PUTUSAN MAHKAMAH AGUNG NOMOR 1397 K/PDT.SUS-PAILIT/2017).

A form of reconciliation in Suspension of Payment is an agreed composition plan, and the composition plan must get the court’s ratification (homologation). According to Article 170 of the Bankruptcy Law number 37/2004, the creditor can request the cancellation of the composition plan that has been approved if the debtor fails (negligent) to fulfill their obligations. Furthermore, in Article 291 Paragraph 2 of the Bankruptcy Law states that if the cancellation is approved, the debtor must be declared bankrupt. And in this case, PT Njonja Meneer was declared bankrupt because they were considered negligent in fulfilling their obligation according to the composition plan, which if we look in Indonesian Civil Code, on Article 1238 it’s stated that someone can only be said to be negligent if they do not carry out their obligations after the due date and have received a notice beforehand. And in this case, the composition plan’s due year is still in 2020 but in 2017, the debtor has already called negligent and declared bankrupt by the court. Therefore, while the research methods in this journal use normative research methods supported by interview data, this journal will examine further about the composition plan itself and the term of negligent in fulfilling the obligations according to the bankruptcy law.

ANALISIS PENERAPAN PASAL 245 UU NO. 37 TAHUN 2004 TENTANG KEPAILITAN DAN PKPU DALAM (STUDI KASUS PUTUSAN NO:03/PDT.SUS-PKPU/2016/PN.NIAGA.JKT.PST.)

Bankruptcy has become a common problem in today's business world, under the Bankruptcy and Suspension of Payment Act, in addition to bankruptcy, one can do so through Suspension of Payment. Suspension of Payment is a method of debt-receivable dispute resolution which is supervised by a supervisory and administering judge, whose final legal product is peace or insolvency. Not all Debtors have good intentions, sometimes payments are made after Suspension of Payment's application is registered. According to the Article 245 of Law Number 37 of 2004 on Bankruptcy and Suspension of Payment, all payments made before the Suspension of Payment are not permitted, after the Suspension of Payment application has been applied for and has been registered at the commercial court in the district court. However there is a dualism of understanding of the prohibition, some claim that the payment is permissible, and some claim that the payment is not permitted. Many Debtors use these payments to abort the formal requirements of Suspension of Payment, which is not in accordance with the legal objectives of justice for all parties, because the usual payment is payment to only a portion of creditors, who have smaller debts, which makes other creditors not get legal certainty, and the consequence of that is that PKPU's application must be rejected. The purpose of this study is to find out how to apply Article 245 of Act No. 34 of 2004 as it should, so that it can be adjusted to the purpose of law, namely justice.

THE ROLE OF SUPERVISORY JUDGE IN THE BANKRUPTCY OF FOUNDATION

<p>This article aims to find out how is the role of judges in overseeing the supervisory curator during the liquidation of the Foundation assets which is experiencing bankruptcy, as mandated in The Act No. 28 of 2004 about The Changes of Act no. 16 of 2001 about the Foundation and Act No. 37 of 2004 about Bankruptcy and Suspension of Payments of Debt. This Legal research is doctrinal and perspective. Source of the legal materials are used in the form of primary and secondary legal materials. The technique used in collecting the legal materials is study of librarianship. The technique used is analysis and interpretation of syllogism by using deductive thinking pattern. The results of the research and study produce a conclusion that these forms of control can be exercised by Supervisory Judge in supervising liquidation process while the curator of Foundation who has experienced bankruptcy is to provide licensing, approval, awarding, and proposal to curators in conducting the management and liquidation of bankrupt assets of foundation. Additional supervision conducted by Supervisory Judge is reporting responsibility of curator against the Builder ofthe Foundation regarding to the results of process of liquidation of Foundation’sassets which suffered bankruptcy. In addition, Supervisory Judge also examine the results of liquidation which is performed by curator over the clearing of the foundation’s assetswhich is experiencing bankruptcy.</p>

PENYALAHGUNAAN INSTRUMEN KEPAILITAN ATAU PKPU OLEH DEBITOR SETELAH MEMPEROLEH FASILITAS KREDIT DARI LEMBAGA KEUANGAN

The 5C principles are important for creditors to give loan to debtors. However, nowadays especially collateral cannot be the guarantee for debtor’s debt if the debtor is breaching the contract, because many of the financial institutions are dare to take a risk by giving higher loan than its collateral’s worth. This condition can bring a risk if there were bankruptcy happened to debtor; therefore, it is not rare that there is clause in loan agreement to protect creditors, by not allowing debtor voluntary asked self-bankruptcy petition, although this kind of clause is contradicts with the nature of bankruptcy law. The concept in Law number 37 years 2004, categorize as simple to be granted by commercial court. Unfortunately, the bankruptcy’s instrument often misused by parties who have bad faith and also for the suspension of payment. Moreover, the creditors will get impact from the parties that have a bad faith. As the legal protection, it can do some legal efforts such: suspension of debt’s payment, lawsuit, cassation, judicial review and criminal indictment.

ASAS INTEGRASI DALAM UNDANG-UNDANG KEPAILITAN VERSUS CITA-CITA KODIFIKASI DAN UNIFIKASI HUKUM ACARA PERDATA

Civil procedure has important role in enforcing civil rights. Therefore codification and unification of civil procedure may guarantee the legal certainty which necessary and urgent in law enforcement. Philosophically, codification and unification is an idea in the development of national legal system. The regulation of civil procedure until nowadays is distributed into many parts of law and regulation, which mostly inherited from the Dutch Colonial Administration or substantive statutory laws enacted by the Indonesian legislative body and government. Since 1967, the bill of civil procedure had been ratifi ed in 13th plenary session of National Legal Reform Task Force (BPLPHN), which expected to be the new Indonesian civil procedure. However, until today, the bill is not ratifi ed yet to be a law by the parliament. There is an idea of codification and unification of civil procedure, on the other side there is integration principle, which adopted in Law of Bankruptcy and Suspension of Payment. The integration principle means that all civil procedural laws should be into one system of civil law. The main issue is that whether integration principle align with the idea of codification and unification. This article will answer the issue as a result of doctrinal research with statutory approach and conceptual approach.

SOCIAL PROJECTS AND THEIR IMPLEMENTATION BY THE GREEK-CATHOLIC CLERGY OF THE MUKACHEVO DIOCESE IN THE SECOND HALF OF THE 20'S AND THE BEGINNING OF THE 30'S OF THE TWENTIETH CENTURY

Співставлення даних церковної періодики, архівних матеріалів та статистичних даних дозволяє досить повно розкрити тему дослідження згідно якої існували ряд напрямків соціальної сфери, котрі намагалося вирішувати греко-католицьке духовенство і єпархіальне правління спільно з чехословацькою державою в міжвоєнний період. З іншого боку греко-католицьке духовенство намагалося зайняти нішу в соціальній сфері на Підкарпатській Русі, акцентуючи увагу на вихованні молоді, опіку над сім’ями, як частину Церкви та боротьбу з таким соціальним лихом як алкоголізм.

El Ministerio de Hacienda en peligro. Conflictos políticos acerca del gobierno de la Hacienda en 1740

We study a stage of crisis in the construction of an institutional model of government of Finances, focusing on the activity of the Junta de Hacienda (1740). It is the most acute point of a conflict generated after Patino’s death among the Ministers in charge of the «distribution of flows» of the king. Likewise, the Junta tries to solve the difficulties caused by the suspension of payments of 1739, restoring the confidence of busi nessmen. Both concerns lead to an original institutional project –though it’s a failure– different from the ideals of collegial government. Beyond the form of the institutions, the study of the argumentation of the people helps to reconstruct the political meaning of their projects.

THE BANKRUPTCY OF AIRLINES AS LESSEE IN FINANCE LEASING BASED ON CAPE TOWN CONVENTION 2001 AND HARMONIZATION WITH THE BANKRUPTCY AND SUSPENSION OF PAYMENT ACT NUMBER 37 YEARS 2004

By the development of the airlines industry in Indonesia today, international lease finance from all around the world (lessor) puthigher trustto airline business in Indonesia. In reality many airlines company (lessee) is bankrupt, because of the inability to pay his debt to the lessor. Based on the Irrevocable Deregistration and Export Request Authorization (IDERA) in the Cape Town Convention, if the airlines company had been bankrupt and could not pay the debt of finance leasing, the aircrafts must bereturned to the finance leasing. In contrary, there is disparities with Bankruptcy and Suspension of Payments Act No.7/2004 in Indonesia, so we need to harmonize the regulation between Bankruptcy Law and Leasing Rule in Indonesia with International Regulation to create the legal certainty to both companies

ПІДСТАВИ ВІДКРИТТЯ ПРОВАДЖЕННЯ У СПРАВІ ПРО НЕПЛАТОСПРОМОЖНІСТЬ ФІЗИЧНОЇ ОСОБИ ЗА ЗАКОНОДАВСТВОМ УКРАЇНИ І НІМЕЧЧИНИ

The article examines the grounds for initiating individual insolvency proceedings, which are regulated by Ukrainian and German law, as well as current positions of judicial practice in this area. Proposals are made to improve the provisions of the Bankruptcy Code of Ukraine and the Law of Ukraine «On Judicial Fees», which will have a positive impact on the legal regulation of insolvency of individuals and law enforcement practice in this area. It is established that in Ukraine the legislator uses not only the principle of insolvency or threat of insolvency to open an insolvency of a citizen, as is the case with a legal entity, but also payment inability. The author notes that using the principle of insolvency, the Ukrainian legislator in one case indicates the minimum amount of debt, and in another sets only the terms of suspension of payments and the minimum percentage of arrears, and in determining the threat of insolvency and payment inability does not provide any quantitative and qualitative characteristics. It is suggested that debtors must have the property in necessary amount to cover court costs when initiating insolvency proceedings. It is proposed to establish a court fee for filing an application for insolvency proceedings, differentiating its size depending on whether the individual debtor has the status of an individual-entrepreneur. It is noted that under German law, the procedure of insolvency of individuals may be opened at the request of both the debtor and the creditor. It is established that the opening of individual insolvency proceedings in Germany is possible only if there are additional grounds, such as: unsuccessful attempt of pre-trial settlement of debt within six months before the filing of the application for initiation of proceedings; availability of a certificate issued by a special entity and certifying a failed attempt of a pre-trial settlement; submission of an application for discharge from residual debt or an application for refusal of such discharge.

José Campillo y las secuelas de la suspensión de 1739: un proyecto político para la Hacienda Real

The suspension of payments of 1739 raised the problem of the relation between the monarchy and businessmen, but also political questions: what authority could Secretary of the Treasury have on the Ministers of War or Sea-coast? What limits could be imposed on the proper king in the expense? I check a classic interpretation: according to this one, neither the author of the suspension, Iturralde, nor his successor, Verdes Montenegro, solved those questions, for being personally compromised with businessmen, and only Campillo initiated a virtuous way, expelling private interests from the Royal Finances. For it, I examine Campillo’s project, his political strategy and his practice in the relations with businessmen and the control of the expense. I think that he didn’t seek to expel businessmen, but to impose on them new rules compatible with a centralizing project.

Los bancos públicos de Castilla y el decreto de 1575

Deposit banks, also called “public banks” and established in the main cities of Castile during the sixteenth century, had close ties with Genoese bankers. Thanks to these local banks many foreign and national financiers gathered the funds they provided to the Crown. The decree of 1575 had worse effects on these public banks and their clients than on the Monarchy’s bankers. Many public banks went bankrupt and the local credit collapsed. The suspension of payments to the bankers in 1575 was not only planned to review their loan contracts, but to send a clear message to the cities of Castile about the importance of satisfying the king´s fiscal demands. The bankruptcy in 1576 of the Pedro de Morga bank in Seville is a good example to see the links existed between the Crown, the Genoese bankers and local banks.

Power asymmetry in dyad between a private and a public entity - the hold-up phenomenon

This study aimed to analyze an inter-organizational relation of a dyad of the healthcare area, one being public and the other private. In light of the Transaction Cost Theory and Inter-organizational Relations, establishing the cooperation relationship was necessary to optimize public resources, besides the specificity of the transacted asset, which was health care in emergency situations. Transparency in the negotiations to establish a formal contract, however, proved to be insufficient to solve conflicts that were not predicted, as well as the suspension of payment by the public agent due to the inability to manage the budget.

Restriction on the Rights of Secured Creditors in Bankruptcy Proceedings

The enactment of Law No. 37/2004 upon Bankruptcy and Suspension of Payment (UUK-PKPU) as the “lex specialist” of the Collateral Law and Civil law has caused several legal problems to the creditors holding collateral over assets of their debtors, commonly known as secured creditors, in terms of management and settlement on bankruptcy estate. Such problems included: First, there is a normative conflict between Bankruptcy law and collateral law, in particular regarding to the principle of executorial and the principle of preference right. Second, there is a restriction on the right of secured creditors in terms of management and settlement on bankruptcy estate.

Civil Liability of the Account Holder used in Voice Phishing

본 논문은 전화금융사기에 이용된 계좌명의인의 민사책임을 부당이득반환 및 손해배상책임의 성립여부 및 그 범위를 중심으로 검토한 것이다. 전화금융사기의 피해자가 입금한 돈이 계좌명의인의 통장에 남아있는 경우에는 피해자는 전기통신금융사기 피해방지 및 피해금 환급에 관한 특별법상 일련의 구제절차를 통해 피해금을 환급받을 수 있겠지만, 이미 전화금융사기 조직에게로 전액 인출되어 지급정지의 대상이 없는 경우에는 민사소송을 통한 구제방법은 여전히 실질적 구제수단이 될 것이다. 계좌명의인에게 부당이득반환의무가 성립하는지를 판단함에 있어서는 그에게 실질적 이득이 존재하는지의 여부가 본질적 판단기준이 되어야 할 것인데, 이를 판단함에는 단순히 사기피해자의 피해금이 계좌명의인의 계좌로 송금되었다는 사실 뿐만 아니라 피해금에 대한 계좌명의인의 관리가능성, 피해금의 특정성유지 여부, 피해금이 계좌명의인의 통장에 잔존하고 있었던 기간의 장단 및 그간의 입·출금현황 등을 종합적으로 검토·판단해야 할 것이다. 나아가 계좌명의인에게 실질적 이득이 잔존하여 부당이득반환책임이 긍정되는 경우에서 반환범위는 피해자의 증명책임을 합리적으로 조절한다는 점 및 계좌명의인의 이중변제위험으로부터의 보호라는 측면에서 계좌명의인의 잔액의 범위에서 집행권원을 득한 후 먼저 집행하는 채권자가 우선적으로 반환받을 수 있다고 할 것이다. 한편 계좌명의인의 공동불법행위책임의 성부를 살피건대, 민법 제760조 제3항에서의 방조를 불법행위를 용이하게 하는 직·간접의 일련의 행위로 파악하는 한 손해의 전보를 목적으로 과실을 원칙적으로 고의와 동일시하는 민사법의 영역에서는 과실에 의한 방조도 가능한 것으로 보아야 할 것이다. 다만 판례가 설시하는 바와 같이 통장 등 접근매체의 양도만으로 계좌명의인의 불법행위책임을 발생시키지는 않으며, 오히려 접근매체의 양도 내지 교부 당시의 구체적인 사정에 기초하여 이를 통해 이루어지는 개별적인 거래가 불법행위에 해당한다는 점 내지 불법행위를 용이하게 한다는 점에 대한 계좌명의인의 예견가능성이 인정되어 접근매체의 양도와 불법행위로 인한 손해 사이에 상당인과관계가 긍정되어야 할 것이다. 이에 따른 손해배상의 범위를 확정함에는 손해배상제도의 이념이 기왕에 발생한 손해에 대한 공평·타당한 분담을 지향한다는 점에서 피해자의 과실을 참작한 과실상계 및 신의칙에 따른 책임제한은 당연히 고려되어야 할 것이다. 다만, 종래 판례의 태도가 전화금융사기에 이용된 계좌의 유형 및 범죄활용에 대한 인식가능성 등에 대한 면밀한 검토 없이 일반적으로 계좌명의인의 불법행위책임을 인정하고, 다만 계좌명의인 또한 피해자라는 인식 하에 손해를 당사자간의 공평 내지 신의칙에 따라 단순히 산술적으로 조정하려는 태도는 지양되어야 할 것으로 보인다.This thesis is considered on whether the civil liability of the account holder used in voice phishing could come into the restitution of unjust enrichment and compensation for damage, and the return range of them. If the money of the victim of voice phishing still remains in the account holder, he or she can receive the restore by a series of process guaranteed by a special law, however, when the whole money in the account has already been withdrawn, which means there is no target of suspension of payment, therefore the way of civil process could be a practical remedy. To judge if the account holder should return the money or not, whether a practical profit belong to him or not ought be the essential standard of judgement. Surely, if the victim wired money to the account holder under the real-name financial system, the establishment of unjust enrichment could be possible, but because the profit as the requirement of unjust enrichment is not the possibility of gain but the practical benefit, we should consider and judge the controllability of the holder to the money, how long the money stayed in the account holder, and the bank statement during the time synthetically. On the other hand, when the liability of restitution of unjust enrichment could be admitted since the practical benefit belongs to the holder, the extent of restitution would be it, and give the fact that the legal burden of proof of victim controlled reasonably and the system protect the holder from risk of double reimbursement, the person who acquires executive right can get the return preferentially by executing his or her right prior to other creditors. After all, to check the joint tort liability of the holder, according to the theory of objective joint tort taken by the orthodoxy and precedent, the narrow tort is not established besides no special circumstance. Whether the joint tort followed by the passive aid of negligence is established or not is a matter of practical civil procedure, and the significant point is that the transfer of access material such as bankbook does not cause a tort of the holder by itself. If the holder could predict the fact that an individual deal made by access materials is considered as a tort based on detailed circumstances at the moment of the transfer of access material and that the individual deal ease committing the tort by having the victim use the access material, the considerable causality between the transfer and the damage of the tort should be established.

Restriction on the Rights of Secured Creditors in Bankruptcy Proceedings

The enactment of Law No. 37/2004 upon Bankruptcy and Suspension of Payment (UUK-PKPU) as the “lex specialist” of the Collateral Law and Civil law has caused several legal problems to the creditors holding collateral over assets of their debitors, commonly known as secured creditors, in terms of management and settlement on bankruptcy estate. Such problems included: First, there is a normative conflict between Bankruptcy law and collateral law, in particular regarding to the principle of executorial and the principle of preference right. Second, there is a restriction on the right of secured creditors in terms of management and settlement on bankruptcy estate.

English

The role of internal migration to the rural poor households is highly appreciable because of its low cost of travel and immediate response for livelihood shocks and problems. Despite the fact, internal migration has tremendous contribution to the livelihood of the rural households; yet it is not free of challenges in the pursuit of its benefits. This study similar to previous works have recommended for the need to conduct study on the challenges of domestic migration. Therefore, this study mainly focused on the main challenges associated with internal migration in rural setting of North Gondar where internal migration is dominated. Both quantitative and qualitative research approaches were utilized. According to the study, the result revealed migration towards the rural areas for labor work following farming activities in the large scale farming fenced with ethnic conflict among workers, prevalence of theft, payment suspension as well disease. Besides, the result of the study revealed that migrants toward the urban area challenges are mainly related with brokers’ deception, lack of immediate job and life costs. Thus, if internal migration is required to play its role as one of the livelihood strategy for subsistence producers of the rural households in the domestic market, the associated challenges of internal migration must have relieving solutions. Key words: Challenge, Dabat district, domestic, migration, livelihood.

О ДОПОЛНИТЕЛЬНЫХ МЕРАХ ПО ОБЕСПЕЧЕНИЮ СВОЕВРЕМЕННОЙ ВЫПЛАТЫ ЗАРАБОТНОЙ ПЛАТЫ

The article is devoted to the analysis of the reasons for the formation of indebtedness in the remuneration of employees in Russia. The nature of the use of labour - a key resource of the economy - directly affects the results of labour activity. The disadvantages in providing employees with salaries are the minuses in the results of the labour expended. Despite the recent adoption of legal measures aimed at ensuring constitutional guarantees for labour remuneration, salary arrears have been slow to decline. Additional measures are necessary to solve the problem. These include introduction in the labour legislation of changes that provide for real compensation for employees of material losses due to delays in payment. Preliminary control is required before the suspension of payment of salary for the reasonableness of such decisions, determining the prospects for its receipt in the future. The international experience in ensuring the observance of employees' rights should be used more widely.