Bankruptcy Cancelation in Indonesia: A Labirin for Curator Fee Execution

Abstract

This article investigates the application of Article 17 paragraph (2) Law No. 37 of 2004 on Bankruptcy and Suspension of Payment (“Bankruptcy Act“) in Indonesia since 2004 until 2013. Article 17 paragraph (2) Indonesia Banckrupcy Act states that the Supreme Court must specify the curator fee amount in case of bankruptcy cancellation petition granted. This research indicate that all Supreme Court verdict does not specify the amount of curator fee as mandated by Article 17 paragraph (2) Banckrupcy Act. The research also found that curator apply curator fee determination to the Commercial Court if The Supreme Court Verdict which does not specify the amount of curator fee. Curator fee determination by the commercial court is contrary to Article 17 paragraph (2) Banckrupcy Act which states the absolute competence of the Supreme Court to set curator fee in case of bankruptcy cancelation. This research provides solutions to protection curator fee is not specified Supreme Court without violating Article 17 paragraph (2) Bankruptcy Act.



Author Information
Ronald Hasudungan Sianturi, Prima Indonesia University, Indonesia
Theresia Simatupang, Prima Indonesia University, Indonesia

Paper Information
Conference: ACBPP2014
Stream: Banking

This paper is part of the ACBPP2014 Conference Proceedings (View)
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