THE LEGAL CONSEQUENCES OF THE CANCELLATION OF PEACE AGREEMENTS IN PKPU FOR SECURED CREDITORS: A CASE STUDY OF THE JAKARTA CENTRAL DISTRICT COURT

Rivaldi, Webi Achmad and Nainggolan, Bernard and Silalahi, Fernando (2025) THE LEGAL CONSEQUENCES OF THE CANCELLATION OF PEACE AGREEMENTS IN PKPU FOR SECURED CREDITORS: A CASE STUDY OF THE JAKARTA CENTRAL DISTRICT COURT. Jurnal DIALEKTIKA: Jurnal Ilmu Sosial, 23 (2). pp. 34-50. ISSN 2828-545X

	Text THELEGALCONSEQUENCESOFTHECANCELLATIONOFPEACEAGREEMENTSINPKPUFORSECUREDCREDITORSACASESTUDYOFTHEJAKARTACENTRALDISTRICTCOURT.pdf Download (345kB)
	Text (Hasil_Turnitin) HasilTurnitinTHELEGALCONSEQUENCESOFTHECANCELLATIONOFPEACEAGREEMENTSINPKPUFORSECUREDCREDITORSACASESTUDYOFTHEJAKARTACENTRALDISTRICTCOURT.pdf Download (464kB)

Abstract

The Indonesian Suspension of Debt Payment Obligations (PKPU) framework, designed toprevent bankruptcy and provide debt restructuring opportunities, faces significant challenges,particularly in enforcing peace agreements post-homologation. This study investigates the legalimplications of these challenges, with a focus on creditors’ rights, particularly for separatistcreditors holding security interests. The research aims to identify the procedural and legal gapsthat hinder the effective enforcement of peace agreements and propose recommendations forimproving the PKPU system. The research method used is a qualitative approach with a casestudy method. Data were collected through in-depth interviews, field observations, and documentanalysis, focusing on judicial practices, legal interpretations, and the experiences of creditors anddebtors involved in the PKPU process. The findings reveal critical issues such as the lack of acoercive enforcement mechanism, judicial inconsistencies, and the legal ambiguity surroundingthe remedies available to creditors when debtors breach peace agreements. The study highlightsthe need for a more structured enforcement process, clearer guidelines for creditor rights, andenhanced legal protections for secured creditors. Policy recommendations include introducingautomatic enforcement mechanisms, refining judicial procedures, and improving creditorparticipation in the debt restructuring process to ensure greater legal certainty and fairness..".

Actions (login required)

View Item