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Andrian Andrian
Universitas Sumatera Utara
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Journal : Law Development Journal

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The Cross-border Insolvency Provision as Ius Contituendum of Bankruptcy Act of Indonesia Andrian, Andrian; Lie, Gunardi
Law Development Journal Vol 6, No 2 (2024): June 2024
Publisher : Universitas Islam Sultan Agung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30659/ldj.6.2.180-199

Abstract

The lack of cross-border insolvency regulation in Indonesia is an issue that hasn't been resolved until now. Borderless business patterns that developed continuously resulted in the promulgation of cross-border insolvency regulations becoming increasingly urgent. Even more, Indonesia as a member state of ASEAN must be fully aware that currently there is a process of economic integration in ASEAN as outlined in the ASEAN Economic Community Blueprint. In consequence, harmonious cross-border insolvency regulations are needed. Philippines, Singapore, and Myanmar already had cross-border insolvency regulation through the adoption of the UNCITRAL Model Law on Cross-border Insolvency while Indonesia still stuck to territorialism approach, not only in cross border insolvency proceeding, but also in civil proceedings in general. Indonesia has to synchronize civil code, civil procedural code, international civil code, and bankruptcy code to create legal certainty in bankruptcy law system. Therefore, in this article writing, there are several approaches that will be used, namely the comparative approach and statutory approach, with the research method of normative juridical. The objectives to be achieved in this article are to construct the lack of cross-border insolvency regulation in Indonesia and to describe cross-border insolvency regulation and practices in Philippines, Singapore, and Myanmar. At the end of this article, there is a recommendation to the Indonesian Government to immediately regulate cross-border insolvency in Indonesia, either by adoption of Model Law or by mutual agreement with certain countries.
Co-Authors Abiemanyu , Abiemanyu Adi Muhamad Muhsidi Aldi, Rahmad Alhabsyi*, Syarifah Mastura Andi Saputra Andrew Andrew, Andrew Andri Firmansyah Anwar, Misbahul Aprillio Poppy Belladonna Aulia Qadri , Rizni Aulia, Fitrah Nurul Aziz, Prily Fitria Bahrul , Ulum Bawono, Gasza Ariatedya Cahyadi Husadha Cahyani, Roddiyah Dedi Hermon Diah Wulandari Dian Sudiantini Dina Fitria Annuri Dwi Meilany, Windy Dwi Sulastri, Fitria Dzakinah, Syadza Walni Dzakinah Edy Widodo Erni Astuti Faisal Ali, Yusuf Fajri Fajri Fardani, Irvan Fitriani, Meita Ganefri . Gunawan Gunawan Gunawan H. Anang, Rahidin Hambali Hambali Haryanto , Raden Achmad Hasanuddin Hasanuddin Herri Trisna Frianto Herri Trisna Frianto, Herri Trisna Hery Winoto TJ Hikmah, Yulia HS, Christnatalis Idayanti, Irma Ika Agustina Indradewa, Rhian Istianingsih Sastrodiharjo, Istianingsih Jasmawati, Jasmawati Jessyka, Jessyka Kamal, Wafiq Fadlul Khairil Anwar Khairil Anwar Kiswara Rahmantya, Yanneri Elfa Komariah, Neng Siti Kuantan, Steven Kurniawan, Hanif Lailiyya, Nushrotul Lamsyariah, Lamsyariah Lie, Gunardi Lithrone Laricha Salomon Lubis, Reniwati Lusiah Lusiah M. Wahyudi, M. Wahyudi Mahesi Agni Zaus Maksudi Maksudi Meiwatizal Trihastuti Melitina Tecoalu Michelle, Michelle Muhamad Fatchan Mujaddid, Nugraha Labib Murtopo Murtopo, Murtopo Musa Hubeis Natalia, Julietha Lindasari Fortuna Navanti, Dovina Nila Sari, Pratiwi Nilasari, Pratiwi Novi Resmini Novianti, Dian Novitri, Novitri Nurhadi, Jatmika Nuur Atthoriq, Dillah Onny, Alifah Maharanie Putri P, Robert Pius Parhimpunan Simatupang, Parhimpunan Prasetyo, Ery Teguh Pratama, Ananda Nickola Pudjo Sugito, Pudjo Pudyastuti, Esty Raden Mohamad Herdian Bhakti Rafsanjhani, Muhammad Akbar Rahmat Kurniawan Ramadhani, Yaasiin Reniwati Lubis Riza Amelia Robi, Muhammad Rezqi Sari , Pratiwi Nila Setia, Rifin Silvi Ariyanti Siregar, Efrizal Siti Rohana Nasution Sudana, Undang Sugiarto, Fahmi Arsyalhabs Sukardi Sukardi Sumantyo, Franciscus Dwikotjo Sri Syaiful Islami Syobar, Khaerul Umar, Iswandi Untari, Dhian Tyas Wahyu Putra, Ch. Indra Wahyuddin Wahyuddin Wijayaningsih, Rini Wilson Kosasih Wulandari, Aulia Fitria Yayuk Nurjanah Yoganingsih, Tutiek Yusdani Yusdani Zai, Immanuel Zubir, Muhammad