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The Problem of Filing for Bankruptcy in Indonesian Law: Should the Insolvency Test Mechanism be Applied?

Volksgeist: Jurnal Ilmu Hukum dan Konstitusi · Vol. ksgeist (2024) · hlm. 199–218

DOI
10.24090/volksgeist.v7i1.10079
ISSN
2615-5648, 2615-174X
Terbit
2024-06-30
Penerbit
Faculty of Sharia, Universitas Islam Negeri (UIN) Profesor Kiai Haji Saifuddin Zuhri Purwokerto, Indonesia
Bahasa
eng
Lisensi
creativecommons.org/licenses/by-sa/4.0

Abstrak

The resolution of bankruptcy disputes in Indonesia presents significant challenges due to the ease with which bankruptcy can be filed against debtors, even if they are capable of continuing their business operations and repaying their debts to creditors. This issue arises from the provisions of Article 2, paragraph (1) of Law 37/2004, which stipulate only two requirements for declaring bankruptcy: the existence of a past due debt and the presence of at least two creditors. This paper aims to examine the problems associated with bankruptcy dispute resolution in Indonesia and to propose the implementation of an insolvency test mechanism as a prerequisite before a Commercial Court judge can issue a bankruptcy ruling. Additionally, the study offers a comparative analysis of the insolvency test mechanisms employed in several countries, including the Netherlands, Germany, the United States, and the United Kingdom. Utilizing a doctrinal approach, this legal research analyzes primary and secondary literature by reviewing laws and regulations pertinent to the issues at hand. The findings of this study suggest that adopting an insolvency test is a crucial policy for the bankruptcy law framework in Indonesia. The implementation of such a test could prevent the bankruptcy of debtors who are still capable of fulfilling their financial obligations. Consequently, there is a need to revise Law 37/2004 to incorporate a legal instrument for the insolvency test.

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  • Universitas Jember
  • Padjadjaran University
  • International University of Batam
  • University of Darussalam Gontor
  • Universitas Airlangga
  • Tsinghua University
  • Udayana University
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Rekan penulisOrganisasiArtikel bersama
Novi Wahyu RiwayantiUniversitas Jember4
Gio Arjuna PutraUdayana University2
Moch. Marsa TaufiqurrohmanPadjadjaran University1
Tarsisius MurwadjiPadjadjaran University1
Helza Nova LitaPadjadjaran University1
Faizal KurniawanUniversitas Airlangga1
Xavier NugrahaUniversitas Airlangga1
Bart JansenNyenrode Business University1
Hari Sutra DisemadiInternational University of Batam1
David TanInternational University of Batam1
Windi AfdalInternational University of Batam1
Upankar ChutiaAlliance University1
Ruetaitip Tungkasamitra ChansrakaeoValaya Alongkorn Rajabhat University1
Y.A. Triana OhoiwutunUniversitas Jember1
Muhammad Rifki TaufikUniversity of Darussalam Gontor1
Eka RosantiUniversity of Darussalam Gontor1
Aisy RahmaniaUniversity of Darussalam Gontor1

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Sumber metadata: OAI-PMH (metadata jurnal) https://ejournal.uinsaizu.ac.id/index.php/volksgeist/oai, pertama di-harvest 7 Nov 2026, terakhir terlihat 8 Nov 2026.
Metadata asli (oai_dc) 
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	<dc:title xml:lang="en">The Problem of Filing for Bankruptcy in Indonesian Law: Should the Insolvency Test Mechanism be Applied?</dc:title>
	<dc:creator xml:lang="en">Fahamsyah, Ermanto</dc:creator>
	<dc:creator xml:lang="en">Taniady, Vicko</dc:creator>
	<dc:creator xml:lang="en">Saputra, Ramadhan Dwi</dc:creator>
	<dc:creator xml:lang="en"> Rachim, Kania Venisa</dc:creator>
	<dc:creator xml:lang="en">Wijaya, Glenn</dc:creator>
	<dc:subject xml:lang="en">Bankruptcy; dispute resolution; insolvency test. </dc:subject>
	<dc:description xml:lang="en">The resolution of bankruptcy disputes in Indonesia presents significant challenges due to the ease with which bankruptcy can be filed against debtors, even if they are capable of continuing their business operations and repaying their debts to creditors. This issue arises from the provisions of Article 2, paragraph (1) of Law 37/2004, which stipulate only two requirements for declaring bankruptcy: the existence of a past due debt and the presence of at least two creditors. This paper aims to examine the problems associated with bankruptcy dispute resolution in Indonesia and to propose the implementation of an insolvency test mechanism as a prerequisite before a Commercial Court judge can issue a bankruptcy ruling. Additionally, the study offers a comparative analysis of the insolvency test mechanisms employed in several countries, including the Netherlands, Germany, the United States, and the United Kingdom. Utilizing a doctrinal approach, this legal research analyzes primary and secondary literature by reviewing laws and regulations pertinent to the issues at hand. The findings of this study suggest that adopting an insolvency test is a crucial policy for the bankruptcy law framework in Indonesia. The implementation of such a test could prevent the bankruptcy of debtors who are still capable of fulfilling their financial obligations. Consequently, there is a need to revise Law 37/2004 to incorporate a legal instrument for the insolvency test.</dc:description>
	<dc:publisher xml:lang="en">Faculty of Sharia, Universitas Islam Negeri (UIN) Profesor Kiai Haji Saifuddin Zuhri Purwokerto, Indonesia</dc:publisher>
	<dc:date>2024-06-30</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
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	<dc:type xml:lang="en">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://ejournal.uinsaizu.ac.id/index.php/volksgeist/article/view/10079</dc:identifier>
	<dc:identifier>10.24090/volksgeist.v7i1.10079</dc:identifier>
	<dc:source xml:lang="en">Volksgeist: Jurnal Ilmu Hukum dan Konstitusi; Vol. 7 Issue 1 (2024) Volksgeist: Jurnal Ilmu Hukum Dan Konstitusi; 199-218</dc:source>
	<dc:source xml:lang="id">Volksgeist: Jurnal Ilmu Hukum dan Konstitusi; Vol. 7 Issue 1 (2024) Volksgeist: Jurnal Ilmu Hukum Dan Konstitusi; 199-218</dc:source>
	<dc:source>2615-5648</dc:source>
	<dc:source>2615-174X</dc:source>
	<dc:source>10.24090/volksgeist.v7i1</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://ejournal.uinsaizu.ac.id/index.php/volksgeist/article/view/10079/3818</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2024 Ermanto Fahamsyah, Vicko Taniady, Ramadhan Dwi Saputra, Kania Venisa  Rachim, Glenn Wijaya</dc:rights>
	<dc:rights xml:lang="en">http://creativecommons.org/licenses/by-sa/4.0</dc:rights>
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