A Study of the Juridical Aspect of the Confiscation of the Bankruptcy to the Assets of the Indonesia State- Owned Entities

Rai Mantili

Abstract


Indonesian State-Owned Entities (BUMN) is one of the manifestations of the government‟s role in Economy. Monetary crisis that occurred in the middle of 1997 destroyed the economy in Indonesia. The impact of the decreasing of rate of profit for BUMN is the inability to pay its debts and bankrupt statement by the creditors, of so withdrawing to review what are the legal consequences of any confiscation of bankrupt assets and how does the bankruptcy estate confiscation process of BUMN in practice? This research is a normative study of law. This research conducted by reviewing primary, secondary, and tertiary legal entity that was equipped by interviews. The analysis conducted by qualitative method so that able to conclude without the using of mathematics formulation. Based upon the research, BUMN losing its right, for the sake of law, to control and manage of its assets includes in the bankruptcy estate, since the date of bankruptcy is established. Nevertheless, none of the BUMN in Indonesia is declared bankrupt until today, so that the analysis of the practice of the general confiscation procedure of BUMN cannot be given.

Aus. J. Law, Ethics & Gov. Vol 1(1), October 2015, P 26-41


Keywords


company; BUMN; BUMN assets; bankrupt; confiscation of the bankruptcy assets; the settlement of assets

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