Improving the Financial Situation of Companies During Suspension of Bankruptcy Process (original) (raw)
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Law Research Review Quarterly
Corporate insolvency will have an unfavorable effect on the country's economy. Currently many companies are facing the threat of bankruptcy applications in the Commercial Court because difficulty of paying the company's debts to its creditors. In the midst of the situation the number of Covid-19 cases that occurred in Indonesia, it has a negative impact with the decline in the performance of business actors due to the crisis. From that situation, it results in a decrease in the amount of income to the difficulty of paying debts or credit to creditors. To reduce the increase in insolvency, the government seeks the enactment of a moratorium on PKPU and Bankruptcy whose implementation will pay attention to the development of Covid-19 pandemic conditions. This research aims to find out how the implications in implementing a moratorium on PKPU and Bankruptcy in order to reduce the company's insolvency and how its legal protection efforts for creditors and debtors. This resear...
https://www.ijrrjournal.com/IJRR\_Vol.8\_Issue.1\_Jan2021/IJRR-Abstract036.html, 2021
In connection with the bankruptcy issue, in this case PT. Inti Kapital Sekuritas, formerly known as PT. Andalan Artha Advisindo Sekuritas, for filing a bankruptcy application made by two creditors namely Ghozi Muhammad and Azmi Ghozi Harharah who are customers of PT. Inti Kapital Sekuritas. The court has handed down the previous decision number 08/Pdt.Sus/Pailit/ 2015/PN.Niaga.Jkt.Pst, because they have more than one debt that is due and can be collected in accordance with law number 37 of 2004 concerning bankruptcy and postponement debt payment obligations, article 2 paragraph (1) jo. Article 8 paragraph (4) which regulates the conditions for bankruptcy as follows, "A debtor who has two or more creditors and does not pay in full at least one debt that is due and can be collected, is declared bankrupt by a court decision, either on his own request or at the request of one or more creditors”. Due to no further legal remedies by the securities debtor, the decision number 08/Pdt.Sus/Pailit/2015/ PN. Niaga.Jkt.Pst has permanent legal force (inkracht). Respondent or securities debtor then submits a request for reconsideration of the court decision which has permanent legal force, by taking external legal remedies, namely reconsideration. The research method used in this thesis research is descriptive analysis, with the type of normative legal research, namely to examine legal norms related to bankruptcy petition decisions through literature study, research in terms of statutory regulations and also their elaboration and explanation of procedures and bankruptcy provisions and postponement of debt payment obligations. The conclusion of this research is that the judge granted the request for bankruptcy cancellation made by the securities debtor because there had been a significant error in the previous decision, namely case number 08/Pdt.Sus/Pailit/2015/ PN. Niaga.Jkt.Ps because the applicant is a creditor an individual who is not the Financial Services Authority (OJK) so that it does not comply with the provisions of article 2 paragraph (4) of the bankruptcy law and postponement of debt payment obligations as well as article 55 paragraph (1) of RI Law number 21 of 2011 concerning the Financial Services Authority (OJK) "function, duty and authority to regulate and supervise financial services activities in the capital market sector (BAPEPAM), or now also known as the Financial Services Authority (OJK). Therefore, the party entitled to apply for bankruptcy is the Financial Services Authority (OJK)”.
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The bankruptcy case of PT Aliga Internasional Pratama is proof of the dualism of the position of criminal confiscation over general confiscation in the bankruptcy estate. Based on the decision of the Commercial Court at the Central Jakarta District Court, PT. Aliga International Pratama has been legally declared bankrupt with all the legal consequences. Whereas as of the date of the bankruptcy decision, all assets of PT. Aliga is in a state of general confiscation, and the authority to control and manage all of their asset rests with the Curator Team. However, 2 buildings which are bankrupt assets, namely The Aliga Hotel and factory/office buildings, have been confiscated by the Criminal Investigation Police Investigators (Bareskrim Polri).The research method in this paper is descriptive qualitative, namely the legal material obtained is presented descriptively and analyzed qualitatively. The results showed that, analyzed using the theory of justice according to Thomas Aquinas and t...
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Assuming that insolvency is an economic reality that cannot be ignored especially in the current context, and the concerns in the regulation of a flexible and efficient procedures are numerous both nationally and in the European Union, we have structured the work in two parts, respectively the first part, in which are presented the theoretical aspects of the implementation of the insolvency, more precisely the reorganization and bankruptcy proceedings and the second part, where we made a brief analysis of insolvent companies between 2010-2012. The paper ends with a brief presentation of the insolvency process in Eastern and Central European countries compared to Romania.
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Law No.7101 stipulated important changes in the Turkish insolvency law. The most significant amendment stipulated by the Law is the abolition of the institution of postponement of bankruptcy and the regulation of the provisions regarding the institution of concordat. In this article, we will focus on analysing the institution of concordat.
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The main objective of this study is to analyze the "pieces" that support the construction of a bankruptcy policy, aiming to identify those that allow building a bankruptcy policy which will help in the recovery from the economic COVID crisis, as well as to build a winning policy in the economic competition between countries. To promote this purpose is observed the impact of bankruptcy policy on the entire economic cycle, allowing to understand that, more than intervening companies at the "end of life", bankruptcy policy impacts on the everyday life of a company, even before its establishment. Subsequently, identifying the characteristics of the ex ante, interim, and ex post efficiencies of a bankruptcy policy, it is analyzed how it can be built one aiming at its maximum efficiency. Finally, the main variables of bankruptcy policy are analyzed, aiming to understand its real implications, sometimes even dual, in the efficiency of this policy.
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The background of this legal research is that the Bank is an intermediary institution as well as a profit-oriented institution. Intermediation means that banks are pillars of the national economy. This puts the Bank regulated by regulations and supervised by special authorities. Banks are business entities that have special characteristics so revocation of business licenses, dissolution of legal entities, and liquidation of banks cannot be equated with generally accepted procedures. The legal issues in the research are: Can a troubled bank be bankrupt and how is the legal protection for depositors according to the Law on Bankruptcy and Postponement of Debt Payment Obligations? This research is juridical normative by using a statutory approach, namely: the Banking Law and Bankruptcy Law, and a conceptual approach. The legal materials that have been obtained are analyzed by content analysis. Based on the results of the discussion, it is shown that: first, according to the provisions o...
Above purposes of the bankruptcy legislation in Romania during financial crisis
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Abstract: The financial blockage and the impossibility of paying one's obligations to the partners and also to the State budget led many companies towards bankruptcy. Does the explanation come only from the worsening of the economic conditions? The objectives of the study ...