Creation and Change in the Indonesian Commercial Law Handling Bankruptcy Case

  • Fahren, Sunarmi, Tan Kamelo Budiman Ginting


The rising cases of corporation bankruptcy in economic crisis contribute to the creation to change in the interpretation law This study sought the creation and change of Indonesian Commercial Law to handle bankruptcy case due to economic crisis. The implementation problems Bankruptcy Law of Indonesia in the post reformation era which shifting from the Dutch Colonial procedures to the international simplicity model. Indonesian Law on Bankruptcy makes the international corporations are expected not to be worried about their investment in Indonesia if their companies in bankrupt position. With a Normative Legal Research, this study was carried out to analyze the case of bankruptcy of an insurance company.  It took the insurance company; Asuransi Jiwa Manulife Indonesia Limited Company (PT. AJMI) as object of analysis. It is found that the case of PT. AJMI does not need for insolvency tests; it can easily correct its bankruptcy case. The bankrupt debtor is automatically in an insolvent state. The legal consequence is that the bankrupt debtor is in an insolvent state. Its assets are already in a public confiscation auction, it can be sold for paying debts. This report gives a model of handling the case of corporation bankruptcy with simple procedure which could indicate that the commercial court in Indonesia has made the new process which support the simple and easy way... It concludes that the Judges’ interpretations of simple proof way in deciding the complicated and conflicts conditions of public companies in the Indonesian courts. It provides the new model would give the corporation the comfort condition if their business has undergone the financial problems due to economic crisis and makes the process is easier to apply.

How to Cite
Fahren, Sunarmi, Tan Kamelo Budiman Ginting. (2020). Creation and Change in the Indonesian Commercial Law Handling Bankruptcy Case . International Journal of Advanced Science and Technology, 29(10s), 2958-2965. Retrieved from