Proposal for Peace Agreement in Bankruptcy at Delay of Debt Payment Obligations

Nainggolan, Bernard (2023) Proposal for Peace Agreement in Bankruptcy at Delay of Debt Payment Obligations. JURNAL AKTA, 10 (4). pp. 387-395. ISSN 2581-2114

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Abstract

This research examines the legal impact of postponing a peace agreement in the context of Delay of Debt Payment Obligations (Keterlambatan Kewajiban Pembayaran Utang/PKPU) in Indonesia, with a focus on the principle of legal certainty. The potential bankruptcy that may occur in PKPU due to the reconciliation approval process violating the specified time limits as regulated in the Bankruptcy and Delay of Debt Payment Obligations Law (UUKPKPU) implies legal uncertainty. The research method used is a normative juridical method, which is descriptive-analytical in nature. Secondary data used includes primary legal materials and related explanations, as well as relevant literary sources. This research highlights the importance of peace agreements in PKPU to achieve legal certainty for all parties involved. Research findings show that delaying settlement agreements can have serious impacts, including the possibility of debtor bankruptcy and legal uncertainty. This research emphasizes the need for compliance with regulations governing the peace process in PKPU to prevent negative consequences and ensure smooth debt settlement. Thus, this research makes an important contribution to the understanding of the implementation of the principle of legal certainty in the context of PKPU in Indonesia. Keywords: Legal Certainty, Debtor Debt Settlement, Ratification of Peace, Bankruptcy

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