Abstract:
Bankruptcy Law is a that expected to create balance between debtor and creditor, to protect the rights of debtor and creditor, and also to create a conducive economic situation in Indonesia. Bankruptcy is a condition where a company does not fulfill the obligations as a debtor, declared bankrupt. Bankruptcy terms contained in article 2 paragraph (1) of the Bankruptcy Act no.
37 of 2007 have many weaknesses seen from many aspects. The conditions of
bankruptcy petition that written in Art 2 Paragraph (1) are made very simple that
it could open broad opportunities for creditor to easily petition bankruptcy against
his debtor. There is no requirement that the debtor should be in the state of
insolvency before he can be petitioned for bankruptcy. There are several words in
Article 2 Paragraph (1) that cannot implement well, because it contains the
meaning that is not in accordance with the interests of debtors and creditors.
This Qualitative Research is using Normative Methodology, and Law No.
37 of 2004 as the Primary Data, and also any Books, Related Law and Regulation,
and also an Interview with Mr. Sutan Remy Sjadeini as the Secondary Data. This
Research is also using Statue Approach, Conceptual Approach, and also Case
approach such as the bankruptcy case of PT. Telkomsel and PT. Asuransi Jiwa
Manulife Indonesia (AJMI).
These things could be deemed as shortcomings that Article 2 Paragraph (1)
of Law 37/2004 related to terms and conditions of the bankruptcy petition that
less protective to the legal interest of the debtor. Therefore, the Indonesia
bankruptcy law should be improved and revised in the future to provide equal
protection for the creditor, debtor and also the stakeholders.
