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Journal : Journal Evidence Of Law

The Dynamics Of Bankruptcy Law And Its Influence On The Investment Climate: A Comparative Study Between Indonesia And Thailand Yuhelson, Yuhelson; Hakim, Nur; Salee , Atchara
Journal Evidence Of Law Vol. 4 No. 3 (2025): Journal Evidence Of Law (Desember)
Publisher : CV. Era Digital Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59066/jel.v4i3.1768

Abstract

This study aims to analyze the dynamics and effectiveness of bankruptcy law in Indonesia and Thailand through a comparative law approach. Thailand regulates bankruptcy through the Bankruptcy Act B.E. 2483 (1940) and its amendments, while Indonesia uses Law Number 37 of 2004 on Bankruptcy and Suspension of Debt Payment Obligations. The study focuses on the legal framework, procedural mechanisms, the role of judicial institutions, and creditor protection. The analysis results show that Thailand implements a centralized system through the Central Bankruptcy Court, which features specialized judges, a concise procedure, and the role of an official receiver as a state official in debt liquidation and reorganization. In contrast, Indonesia has a more open access to filing for bankruptcy for various parties. Still, it faces obstacles such as long resolution times, differing interpretations among courts, and issues with the cost and independence of curators. From the perspective of creditor protection, Thailand is more prominent because it provides legal certainty and encourages restructuring. At the same time, a liquidation pattern still dominates Indonesia due to the weak implementation of the PKPU mechanism. Therefore, it can be concluded that the Thai system is more effective in the aspects of efficiency, consistency, and business continuity. At the same time, Indonesia excels in access openness but faces challenges in the practical resolution of the bankruptcy process.
Co-Authors Al Farabi, Muhammad Nizam Zakhman Al Wafa, Mohammad Hassan Alhaddad, Muhammad Idris Armalia, Widya Arnes Yuli Vandika Asrofi, Asrofi Awaludin, Dipa Teruna Buang, Nursahar Bunyamin, Ilham Akbar Christian, Ronald Danial, Hendra Pratama Dewi, Ririn Nurlafika Diana Lara Kharisma, Mei Djuwairiyah Djuwairiyah Emmy Mustafa , Marni Faiq Muizzuddin, Muhammad Fatih, Moh. Khoirul Febriyanto, Weda Fernandes, Gilang Ryan Fitri Agustina Fitrian, Achmad Franciska, Wira Gazali Gazali Harahap, Syukri Aman Haruni Ode Haryadi, Rahmat Hasibuan, Fauzie Yusuf Hidayati, Tri Wahyu Husni, Irwandi I Putu Gede Didik Widiarta Idris Idris Ika Mei Lina Ikhlas Ul Aqmal Iswanto, Juni Iyus Herdiana, Iyus Jastacia, Bella Judijanto, Loso Khalimi Khalimi, Khalimi Khozin, Khozin Kristine, Humaltike Loso Judijanto M Yunus Mansoori, Ahmed Al- Marbun, Elida Mas'ud Muhammadiah Miftahuddin Miftahuddin Moh. Tahir Muhammad Hazmi Muhammad Nashihin Muhammad Nur Hasan, Muhammad Nur Muhammad Saefullah, Muhammad Muris, Dendy Muthmainah, Hanifah Nurul Naim, Sidrotun Nasrul Amin, Moh. Novelti, Novelti Nur Fatmawati, Mita Nur Luthfi Rizqa Herianingtyas Nur, Hakim Nuraini Nuraini Nurjanah, Popy Nursikin, Mukh. Pandiangan, Roni Pawoko, Sigit Ibnu Perdana, Andhika Putera R, Rinovian Rahardian Utama, Muhamad Adji Rahmadhani, May Vitha Rinaldi Romelah Romelah Saiful, Nur Aisyah Qadri Salee , Atchara Sa’adi, Sa’adi Sholihah, Iqlimatus Sitanggang, Hermanto Siti Aisyah Hanim, Siti Aisyah Soleman, Soleman Sudarmanto, Eko Sugiarto, Toharta Suputra, Gusti Ketut Alit Suyud El Syam, Robingun Syam Gunawan Syamsuddin Syamsuddin Tahir, Usman Tentiasih, Septyana TW, Gatut Hendro Usasra, Afad Pratama Widianto, Suheri Yuhelson Yuhelson