ANALYSIS OF THE UNCITRAL MODEL LAW ON CROSS-BORDER INSOLVENCY AND ITS POTENTIAL EFFECTIVENESS IN INDONESIA

Panji Ahmad Setiawan, . (2024) ANALYSIS OF THE UNCITRAL MODEL LAW ON CROSS-BORDER INSOLVENCY AND ITS POTENTIAL EFFECTIVENESS IN INDONESIA. Jurnal Jurisprudentie, 11 (2). pp. 137-151. ISSN 2580-5738

Text 2110611268_ArtikelKI.pdf Restricted to Repository staff only Download (1MB)

Abstract

In the current era of globalization, trade involves numerous countries in both bilateral and multilateral relationships, transforming it into what is known as international business. This rapid development has given rise to various issues, including cross-border insolvency, which involves multiple jurisdictions. Currently, Indonesian law does not address this matter, resulting in a legal vacuum regarding the execution of bankrupt assets outside Indonesia's territory. This research employs a juridical-normative legal method, utilizing statute and comparative approaches. Insolvency in Indonesia is governed by Law No. 37 of 2004 on Bankruptcy and Suspension of Debt Payment Obligations. Under the principle of territoriality, bankruptcy rulings in Indonesia are applicable solely within national jurisdiction and lack enforceability abroad. This situation becomes complex when a debtor, who owes creditors from another country, is declared bankrupt, or vice versa. One potential solution to address cross-border insolvency cases is to adopt the UNCITRAL Model Law on Cross-Border Insolvency, formulated by the United Nations. This model aims to provide guidelines for resolving cross-border insolvency cases across different countries, facilitating fair and effective handling of such matters.

Item Type:	Article
Additional Information:	[No. Panggil : 2110611268] [Pembimbing : Imam Haryanto] [Penguji 1 : Muthia Sakti] [Penguji 2 : Rianda Dirkareshza]
Uncontrolled Keywords:	UNCITRAL, cross-border insolvency, principle of territoriality.
Subjects:	K Law > K Law (General)
Divisions:	Fakultas Hukum > Program Studi Hukum (S1)
Depositing User:	PANJI AHMAD SETIAWAN
Date Deposited:	05 Feb 2025 11:03
Last Modified:	19 Feb 2025 03:00
URI:	http://repository.upnvj.ac.id/id/eprint/35472

Actions (login required)

View Item