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- Title
JURIDICAL ANALYSIS OF CREDITOR PROTECTION RELATED TO THE TRANSFER OF ASSETS IN THE BANKRUPTCY PROCESS BY THE DEBITOR.
- Authors
Rasji; Saly, Jeane Neltje; Widyastuti, Stefani
- Abstract
This research examines the issues related to legal protection for creditors caused by the debtor's actions of transferring their assets when bankruptcy is applied for, as well as the regulations within the Bankruptcy Law in order to provide a legal framework for creditors to collect their claims. The research approach used in this study is a statutory approach with a normative juridical research type. The sources of legal materials used are primary and secondary legal sources. The technique for collecting legal materials used is library research. The validity is established using theory triangulation and concept triangulation. The Bankruptcy Law essentially regulates situations where debtors transfer their assets when bankruptcy is applied for through a mechanism known as Actio Pauliana. However, the Actio Pauliana mechanism stipulated in Article 41 of the Bankruptcy Law still has several shortcomings, including: First, rejection due to differing perceptions among judges in identifying debtor's actions as fraudulent; Second, jurisdiction of the competent court to adjudicate Actio Pauliana claims; Third, minimal participation from parties such as customers, police, prosecution, or banking institutions due to a lack of understanding of the Bankruptcy Law. Thus, Actio Pauliana claims have not been able to provide sufficient protection for creditors. The existence of the Automatic Stay mechanism can be a solution for the Bankruptcy Law to prevent debtors from invoking the Actio Pauliana mechanism in attempting to transfer bankrupt assets. However, the Automatic Stay mechanism is not yet actively implemented in Indonesia and has only begun to be adopted in the proposed amendments to the Bankruptcy Law. The implementation of Automatic Stay can be a preventive measure by the Bankruptcy Law against the diminishing value of bankrupt assets when debtors transfer their wealth. Automatic Stay can provide legal protection for debtors as well as for creditors..
- Subjects
FRAUDULENT conveyances; BANKRUPTCY; LIBRARY research; DEBTOR &; creditor; JURISDICTION
- Publication
Journal Research of Social Science, Economics & Management, 2023, Vol 3, Issue 1, p22
- ISSN
2807-6494
- Publication type
Article
- DOI
10.59141/jrssem.v3i1.505