Towards an Effective Indonesian Bankruptcy Law, Part 4

06/11/2001

Excerpt

In Part 3 of this series, we highlighted two issues with the Indonesian bankruptcy statute which we believe should be rectified as soon as practicable in order to make it more effective as a means of resolving the Indonesian corporate debt problem.

Those issues were: (1) Set off and use of cash collateral, and (2) post-bankruptcy petition financing. These affect the capability of a debtor in reorganization to continue operating as a going concern.

In Part 4, the last part of a four-article series, we will consider the following issues: Discharge of the debtor from his debts; creditor's retention rights to goods under his possession; and the effectiveness of the Indonesian bankruptcy courts.

This series is derived from a report prepared by Mr. Robin E. Phelan, Esq., a bankruptcy expert with the law firm of Haynes & Boone in Dallas, Texas, USA, who is a director of the American Bankruptcy Institute and has taught US bankruptcy law at Southern Methodist University in Dallas.

For the complete publication please download the PDF below.

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