Research Article
Bankruptcy as An Effort to Ultimum Remedium Debt Settlement
@INPROCEEDINGS{10.4108/eai.28-5-2022.2320561, author={Agus Waryoko and Sanusi Sanusi and Mukhidin Mukhidin}, title={Bankruptcy as An Effort to Ultimum Remedium Debt Settlement}, proceedings={Proceedings of the 1st International Conference on Law, Social Science, Economics, and Education, MALAPY 2022, 28 May 2022, Tegal, Indonesia}, publisher={EAI}, proceedings_a={MALAPY}, year={2022}, month={8}, keywords={bankruptcy ultimum remidium settlement debt debtor}, doi={10.4108/eai.28-5-2022.2320561} }- Agus Waryoko
Sanusi Sanusi
Mukhidin Mukhidin
Year: 2022
Bankruptcy as An Effort to Ultimum Remedium Debt Settlement
MALAPY
EAI
DOI: 10.4108/eai.28-5-2022.2320561
Abstract
Creditors who are informed about the Debtor no longer able to pay their debts will try to be the forefront of getting payment of their receivables. Usually the trick is to force the Debtor to hand over his assets. This makes the other parties a loss. One solution to such a problem is to use an insolvency institution. The problems in this study include: (1) Is bankruptcy an effort by ultimum remedium in order to resolve debts of debts? (2) What are the obstacles faced by the Debtor for debt settlement. This type of research is library research. This study used secondary data as the main data. The source of the data can be obtained using document searches in the form of literature studies. Furthermore, this research is Normative Law Research. Namely conducting an assessment of the positive law aka written law. The results of this study show that in reality the applicable Law cannot explain in detail the concept of debt in insolvency, due collectible, Creditor and Debtor insolvent. The problem has the effect of understanding the meaning of simple proof, so that the application for a declaration of bankruptcy is used as a means of collecting debts rather than as an ultimatum premium. The above Electoral Act also does not touch the stakeholders of the parties, does not anticipate the domino effect and does not hold an insolvency test in insolvency matters.