Social Sciences
3 years ago

Bankruptcy Verdicts in Indonesia: Impact on Debtors and Creditors

DOAJ (DOAJ: Directory of Open Access Journals)
JURIDICAL ANALYSIS OF THE BANKRUPTCY EXECUTION DECISION UNDER INDONESIAN COMMERCIAL COURT
Ravina Savitri, Budi Santoso

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Bankruptcy in Indonesia is about sharing a debtor's assets with creditors. The study looked at laws and regulations to understand bankruptcy decisions. When a debtor is declared bankrupt, their assets are managed by a curator. The bankruptcy verdict affects the execution of the debtor's assets. If a bankrupt debtor is uncooperative, they may face legal action. The goal is to make the bankruptcy process more effective by cutting down on legal appeals.