Comparison of Bankruptcy Requirements According to Indonesia-Malaysia Bankruptcy Law

    Yalid ,Raja Desril
    Keywords: Comparison, Requirements, Bankruptcy ,

    Abstract

    Abstract
    One of the crisis challenges that must be anticipated is by making improvements to the bankruptcy law
    institutions. However, until now in Indonesia still uses Law No. 37 of 2004 (abbreviated as the Bankruptcy
    Law and PKPU). The provisions of the Bankruptcy Law and PKPU have some norm problems where one of
    them does not require a minimum debt amount. To conduct legal reform or change the substance of the
    Bankruptcy Law and PKPU it is necessary to use comparative law. In line with the above objectives, this
    study compares the substance of bankruptcy requirements in Indonesia with Malaysia. This research
    method is conducted normatively, in accordance with dogmatic problems related to the existence of a
    legal vacuum. The results of this study can be explained that the bankruptcy law in Indonesia does not
    require a minimum amount of debt to be applied to all types of debtors. Bankruptcy law in Malaysia the
    term bankruptcy or bankruptcy only applies to individuals / people, whereas for bankrupt companies and
    banks is unknown, but liquidation. In connection with the minimum amount of debt only applies to
    creditors who filed for bankruptcy for individuals / individual debtors, while the application for bankruptcy
    filed by the debtor against it is not determined the minimum amount of debt. In conducting bankruptcy
    law reforms in the future, it is better if the concept of minimum debt requirements only applies to creditors,
    whereas for debtors there is no need to determine the minimum amount of debt.

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