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All Journal West Science Law and Human Rights
Reba, William Hendrik
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Humanities Law, Crime, Criminology & Criminal Justice

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Juridical Analysis of the Bankruptcy of PT Sritex Based on Law Number 37 of 2004 concerning Bankruptcy and Postponement of Debt Payment Obligations. Firmansyah, Firmansyah; Palit, Silvester Magnus Loogman; Reba, William Hendrik
West Science Law and Human Rights Vol. 3 No. 02 (2025): West Science Law and Human Rights
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/wslhr.v3i02.1828

Abstract

This study examines the bankruptcy of PT Sri Rejeki Isman Tbk (PT Sritex) within the framework of Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations (UU Kepailitan). Employing a normative juridical approach, it analyzes the legal provisions, procedural implementation, and implications of the case. The findings reveal compliance with the statutory criteria for bankruptcy but also expose significant procedural inefficiencies, particularly in asset valuation and the Suspension of Debt Payment Obligations (PKPU) process. The study highlights the need for reforms to streamline court procedures, enhance transparency, and strengthen corporate governance practices. These measures are crucial for improving the effectiveness and equity of Indonesia’s bankruptcy system while safeguarding the rights of creditors and debtors.
Co-Authors Firmansyah Firmansyah Silvester Magnus Loogman Palit