The Evolution of Bankruptcy Law Indonesia

A Historical Analysis and Its Implications for the Pratice of Debt and Receuvales Settlement

Abstract

This study aims to analyse the development of bankruptcy law in Indonesia, focusing on changes in the norms, laws, and regulations that govern bankruptcy from time to time. The problem raised in this study is how the evolution of bankruptcy law affects the practice of debt settlement in Indonesia. The research method used is a legal history research approach, which involves collecting data through literature studies and archival research. The data collected includes historical documents, archives, laws and regulations, and relevant court decisions. Data analysis is carried out historically and qualitatively by interpreting legal materials and grouping legal concepts related to the development of bankruptcy. The study results show significant changes in bankruptcy law in Indonesia, especially with the enactment of Law No. 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations. Court decisions reflect the application of new norms and contribute to a better understanding of bankruptcy. This research is expected to make a theoretical and practical contribution to the development of legal science and a reference for further research related to the history of bankruptcy law in Indonesia.