Remedies On The Bankruptcy And The Suspension Of Obligation For Payment Of Debts Decisions (PKPU)

Law of The Republic of Indonesia Number 37 of 2004 on The Bankruptcy and The Suspension of Obligation for Payment of Debts (Bankruptcy Act) affirms that the bankruptcy and the suspension of obligation for payment of debts (PKPU) can be processed simultaneously at the Commercial Court. However, the PKPU petition shall be placed as a priority in the proceeding process. In the event the bankruptcy and PKPU are processed simultaneously at the commercial court, the application of PKPU shall be decided in advance. The same thing applies if the PKPU application is submitted after the application of the bankruptcy declaration. According to Article 235 paragraph (1) of the Bankruptcy Act, any legal remedy cannot be filed against the PKPU judgement.  While the judgement of bankruptcy petition may be filed for a cassation and/or judicial review.

The petition can be filed by the debtor and creditor or other creditors who are not satisfied with the decision to request for bankruptcy declaration. The cassation procedure related to the bankruptcy decision begins with the petitioner registering his/her petition along with the memory of the cassation to the court, the date line for submitting the cassation is within 8 (eight) days at the latest after the decision is rendered. At the latest within time period of 14 (fourteen) days counted from the date of petition for cassation is registered, the Registrar shall be obliged to deliver the petition for cassation, cassation brief and counter brief to the Supreme Court.

 Then the date of the hearing shall be determined by The Supreme Court within no more than 2 (two) days from the date the petition for cassation is registered with the Registrar of the Supreme Court. For the hearing for the petition for cassation to the Supreme Court shall be held within 20 (twenty) days from the date which such petition for cassation are registered to the Supreme Court. The determination regarding the petition for cassation to the Supreme Court must be determined within 60 (sixty) days of the date such petition for cassation to the Supreme Court is registered. The copy of the cassation decision shall be delivered by The Registrar of the Supreme Court to the Registrar of the Commercial Court no more than 3 (three) days after the date on which the cassation decision is rendered.

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