The Indonesian Civil Trial still use Herz Indlandische Reglements (HIR) and Reglement Buitten Gewessen. (RBG) during the dutch colony until the present. Article 178 HIR and 189 RBG govern the…
Although the American Code provides its schedule of exemptions in section 522 (d), debtors in most states can not claim these exemptions because most states have opted out of section…
The common law rules subject all of a debtor’s property to paying her debt. By constitution or statute, however, all states immunize the exact debtor’s personal property and, to a…
Bankruptcy is a legal proceeding initiated by the creditor or debtor itself on the ground that the debtor failed and cannot pay his debt. Article 2 paragraph (1) Law No.37…
95% of creditors, representing 97% of all creditors, have acknowledged the homologation of voting rights. However, two of the creditors, Grey lag Goose Leasing 1410 Designated Activity Company and Grey…
By law, the commercial court's decision on the homologation consent can not be revoked or terminated by the parties. the court can only remove on the ground that such settlement…
On 7 August 2001, IKB Deutsche Industrienbank AG, a company duly organized by German Law, and Bayerische Hypo-und Vereinsbank AG, a company duly organized by German Law, filed a petition…
According to article 222 paragraph (1) Law No.37 of 2004 on Bankruptcy and Suspension of Payment of the Debt, there are two forms of Suspension of Payment. First, the debtor…
The meaning of sett-off is essentially the extinguishment of cross demands between parties indebted to each other. It happens in litigation when the plaintiff and defendant both successfully claim and…
As we already know, the requirement to file a petition for Bankruptcy under article 1 paragraph (1) Law No 4 of the year 1998 of the stipulation of government regulation…