The Evolution of Bankruptcy Law Indonesia
A Historical Analysis
DOI:
https://doi.org/10.19184/ejlh.v12i3.53276Abstract
This paper examines 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 results of this paper show significant changes in bankruptcy law in Indonesia, especially with the enactment of Law No. 37 of 2004. Court decisions reflect the application of new norms and contribute to a better understanding of bankruptcy. This paper recommends that Bankruptcy Law requirements should be tightened so that only debtors who cannot pay can file for bankruptcy. Second, the capacity and role of curators need to be improved through further training and supervision so that the task of managing bankruptcy assets can be carried out transparently and professionally to protect the interests of all parties. Third, the government needs to expand socialization about bankruptcy law to increase public understanding.
Keywords: Bankruptcy, Debts, Evolution, and History.
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