AJCD
Vol. 2 No. 2 (2022): AMCA Journal of Community Development

Implementation of bankruptcy instruments as a final means of overcoming the impact of the Covid-19 pandemic in Indonesia

Rahayu Hartini (Unknown)
Briliawan Gama Rahmatullah (Unknown)
Ahmad Dzulfiqar Hibatullah Putra (Unknown)
Mohammad Faisal Jamaludin Malik (Unknown)
Mohammad Hanif Furqan Aufa Putra (Unknown)



Article Info

Publish Date
31 Jul 2022

Abstract

This study aims to provide contributions and ideas in the form of efforts to prevent bankruptcy for debtors / companies affected by the COVID-19 pandemic. This is a normative juridical law research with a conceptual approach and legislation. Primary and secondary legal materials are analyzed in terms of their content. The results of the research and legal discussion show that Bankruptcy is the last legal effort in overcoming the Covid-19 pandemic in the event that the company experiences debt repayment difficulties (defaults). Efforts that can be made are by: Optimizing the application of Business Sustainability Principles; The Covid-19 pandemic is the reason for Force majeure, the importance of restructuring and renegotiation mechanisms by debtors and creditors through Postponement of Debt Payment Obligations, and Bankruptcy is the last legal remedy (ultimum remedium).

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Journal Info

Abbrev

ajcd

Publisher

Subject

Religion Agriculture, Biological Sciences & Forestry Education

Description

AMCA Journal of Community Development (AJCD) is the official international journal published by the Association of Muslim Community in ASEAN (AMCA) which emphasizes community development. AJCD is issued twice a year (January and July). The journal is published in both printed and online versions, ...