Legal Settlement Efforts That Should Be Done by Indonesia and Singapore in Completing Debt by Curators to Creditors through Bankruptcy

Megawaty, Elvira Fitriyani Pakpahan

2020

Abstract

In Indonesia, in its bankruptcy law, there are legal remedies against bankruptcy decisions in the form of cassations or reconsiderations that are decided by the Supreme Court of the Republic of Indonesia. In the bankruptcy law in Singapore there is no legal remedy, this is because the bankruptcy filing is filed with a federal court, the federal court is the highest court in the hierarchy of the judicial system in Singapore. The research method used was normative and the type of research was t-juridical empirical. Source of primary, secondary and tertiary legal materials. The collection technique is in the form of a library (library research). The data analysis used a qualitative approach. Legal settlement efforts that must be made by Indonesia and Singapore in settling debts by curators to creditors through bankruptcy are related to this objective, in a PKPU it is possible to make a peace, for example by conducting debt restructuring, both for all debt and part of the debt, it can be said that peace is one of PKPU. If within the delay (time) the debtor fails to reach peace, the peace is canceled, the bankruptcy provisions will apply. Efforts to settle debts with bankruptcy result in all the assets of the bankruptcy being confiscated by the court, and the person concerned cannot manage his assets because they have been taken care of by a curator until the bankruptcy process ends, including settling all debts. Meanwhile, Singapore's efforts to resolve it in the form of a court can order a refund or cancel an undervale transaction conducted by a third party with a bankrupt debtor within five years.

Paper Citation

in Harvard Style

Megawaty. and Pakpahan E. (2020). Legal Settlement Efforts That Should Be Done by Indonesia and Singapore in Completing Debt by Curators to Creditors through Bankruptcy. In Proceedings of the International Conference on Culture Heritage, Education, Sustainable Tourism, and Innovation Technologies - Volume 1: CESIT, ISBN 978-989-758-501-2, pages 486-493. DOI: 10.5220/0010326000003051

in Bibtex Style

@conference{cesit20,
author={Megawaty and Elvira Fitriyani Pakpahan},
title={Legal Settlement Efforts That Should Be Done by Indonesia and Singapore in Completing Debt by Curators to Creditors through Bankruptcy},
booktitle={Proceedings of the International Conference on Culture Heritage, Education, Sustainable Tourism, and Innovation Technologies - Volume 1: CESIT,},
year={2020},
pages={486-493},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0010326000003051},
isbn={978-989-758-501-2},
}

in EndNote Style

TY - CONF

JO - Proceedings of the International Conference on Culture Heritage, Education, Sustainable Tourism, and Innovation Technologies - Volume 1: CESIT,
TI - Legal Settlement Efforts That Should Be Done by Indonesia and Singapore in Completing Debt by Curators to Creditors through Bankruptcy
SN - 978-989-758-501-2
AU - Megawaty.
AU - Pakpahan E.
PY - 2020
SP - 486
EP - 493
DO - 10.5220/0010326000003051