Bankruptcy in Indonesia

Indonesian individuals cannot legaly declare bankruptcy.
They could it is written in the law UU_N0_ 37_2004 - Kepailitan Dan Penundaan Kewajiban Pembayaran Utang) (Law number 37, 2004 Bankruptcy and Postponement of Debt Payment Obligations)

"Article 1
3, Debitor adalah ORANG yang mempunyai utang karena perjanjian atau undang-undang yang pelunasannya dapat ditagih di muka pengadilan.

3, Debtor is an INDIVIDUAL who has a debt due to an agreement or law whose repayment can be claimed before the court.
4. Debitor pailit adalah debitor yang sudah dinyatakan pailit dengan putusanPengadilan.
4. Bankrupt debtor is a debtor who has been declared bankrupt by decision Court.

Article 23
Debitor Pailit sebagaimana dimaksud dalam Pasal 21 dan Pasal 22 meliputi istri atau suami dari Debitor Pailit yang menikah dalam persatuan harta.
Bankruptcy Debtors as referred to in Article 21 and Article 22 include wives or the husband of the Bankrupt Debtor who is married in a joined assets.

Article 50
(1) Setiap ORANG yang sesudah putusan pernyataan pailit diucapkan tetapi belum diumumkan, membayar kepada Debitor Pailit untuk memenuhi perikatan yang terbit sebelum putusan pernyataan pailit diucapkan, dibebaskan terhadap harta pailit sejauh tidak dibuktikan bahwa yang bersangkutan mengetahui adanya putusan pernyataan pailit tersebut.
(1) Any INDIVIDUAL who, after the decision to declare bankruptcy has been pronounced but has not yet been announced, pays to the Bankrupt Debtor to fulfill an obligation issued before the decision to declare bankruptcy is declared, is released from the bankruptcy assets as long as it is not proven that the person concerned is aware of the existence of the decision to declare bankruptcy."

The procedure and administrative requirement is further detailed by the Decision/Decree of the Chief Of The Supreme Court Republic Of Indonesia Number: 3/KMA/SK/I/2020 About Application of The Case Settlement Handbook Bankruptcy And Delay Of Debt Payment Obligations.

Kelengkapan Administrasi Pendaftaran Perkara Permohonan Pernyataan Pailit Sebagaimana Tercantum dalam Daftar Persyaratan (Check List)
Permohonan oleh DEBITOR PERORANGAN (Application by INDIVIDUAL DEBTOR (See the image attached this quotation)

This have also well explained by many Indonesian business Lawyer practitioners and Law professors.

For instance
https://law.uii.ac.id/wp-content/uploads/2013/09/ISI KOmplet-2_hal 462.pdf
"Debitor tersebut dapat berupa PERORANGAN maupun badan hukum. Badan hukum tersebut meliputi perseroan terbatas, koperasi, yayasan, perkumpulan, dan BUMN yang meliputi Persero dan Perum."

https://www.dhplawyers.com/basics-of-bankruptcy-law-in-indonesia/
"Debtor shall mean a PERSON who has indebtedness for which it may be demanded to pay before the court."

https://www.hukumonline.com/klinik/...i-ajukan-permohonan-pailit-pt-lt5a61560b51b3c
"Lebih lanjut dijelaskan bahwa debitur dengan kesadaran dan kehendak sendiri secara sukarela mengajukan permohonan pailit TERHADAP DIRINYA SENDIRI, agar dirinya dinyatakan pailit oleh pengadilan."

See the rest see the image in the attachment below together with the Decision/Decree of the Chief Of The Supreme Court Republic Of Indonesia Number: 3/KMA/SK/I/2020

Capture.JPG
 
Last edited:
They could it is written in the law UU_N0_ 37_2004 - Kepailitan Dan Penundaan Kewajiban Pembayaran Utang) (Law number 37, 2004 Bankruptcy and Postponement of Debt Payment Obligations)

"Article 1
3, Debitor adalah ORANG yang mempunyai utang karena perjanjian atau undang-undang yang pelunasannya dapat ditagih di muka pengadilan.

3, Debtor is an INDIVIDUAL who has a debt due to an agreement or law whose repayment can be claimed before the court.
4. Debitor pailit adalah debitor yang sudah dinyatakan pailit dengan putusanPengadilan.
4. Bankrupt debtor is a debtor who has been declared bankrupt by decision Court.

Article 23
Debitor Pailit sebagaimana dimaksud dalam Pasal 21 dan Pasal 22 meliputi istri atau suami dari Debitor Pailit yang menikah dalam persatuan harta.
Bankruptcy Debtors as referred to in Article 21 and Article 22 include wives or the husband of the Bankrupt Debtor who is married in a joined assets.

Article 50
(1) Setiap ORANG yang sesudah putusan pernyataan pailit diucapkan tetapi belum diumumkan, membayar kepada Debitor Pailit untuk memenuhi perikatan yang terbit sebelum putusan pernyataan pailit diucapkan, dibebaskan terhadap harta pailit sejauh tidak dibuktikan bahwa yang bersangkutan mengetahui adanya putusan pernyataan pailit tersebut.
(1) Any INDIVIDUAL who, after the decision to declare bankruptcy has been pronounced but has not yet been announced, pays to the Bankrupt Debtor to fulfill an obligation issued before the decision to declare bankruptcy is declared, is released from the bankruptcy assets as long as it is not proven that the person concerned is aware of the existence of the decision to declare bankruptcy."

The procedure and administrative requirement is further detailed by the Decision/Decree of the Chief Of The Supreme Court Republic Of Indonesia Number: 3/KMA/SK/I/2020 About Application of The Case Settlement Handbook Bankruptcy And Delay Of Debt Payment Obligations.

Kelengkapan Administrasi Pendaftaran Perkara Permohonan Pernyataan Pailit Sebagaimana Tercantum dalam Daftar Persyaratan (Check List)
Permohonan oleh DEBITOR PERORANGAN (Application by INDIVIDUAL DEBTOR (See the image attached this quotation)

This have also well explained by many Indonesian business Lawyer practitioners and Law professors.

For instance
https://law.uii.ac.id/wp-content/uploads/2013/09/ISI KOmplet-2_hal 462.pdf
"Debitor tersebut dapat berupa PERORANGAN maupun badan hukum. Badan hukum tersebut meliputi perseroan terbatas, koperasi, yayasan, perkumpulan, dan BUMN yang meliputi Persero dan Perum."

https://www.dhplawyers.com/basics-of-bankruptcy-law-in-indonesia/
"Debtor shall mean a PERSON who has indebtedness for which it may be demanded to pay before the court."

https://www.hukumonline.com/klinik/...i-ajukan-permohonan-pailit-pt-lt5a61560b51b3c
"Lebih lanjut dijelaskan bahwa debitur dengan kesadaran dan kehendak sendiri secara sukarela mengajukan permohonan pailit TERHADAP DIRINYA SENDIRI, agar dirinya dinyatakan pailit oleh pengadilan."

See the rest see the image in the attachment below together with the Decision/Decree of the Chief Of The Supreme Court Republic Of Indonesia Number: 3/KMA/SK/I/2020

View attachment 3781
Learned something new today.
 

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