Legal Theory Approach to Expediency in Filing Bankruptcy Requests and Postponement of Debt Payment Obligations in Indonesia

Dedy Dedy; Hasim Purba; Mahmul Siregar; Detania Sukarja; Haswandi Haswandi

doi:10.2991/978-2-38476-218-7_76

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Legal Theory Approach to Expediency in Filing Bankruptcy Requests and Postponement of Debt Payment Obligations in Indonesia

Authors

Dedy Dedy¹^{, *}, Hasim Purba², Mahmul Siregar³, Detania Sukarja⁴, Haswandi Haswandi⁵

¹Faculty of Law, Universitas Sumatera Utara, Medan, Indonesia Jl, Abdul Hakim No. 4, Padang Bulan, Medan, North Sumatera, 20155, Indonesia

²Faculty of Law, Universitas Sumatera Utara, Medan, Indonesia Jl, Abdul Hakim No. 4, Padang Bulan, Medan, North Sumatera, 20155, Indonesia

³Faculty of Law, Universitas Sumatera Utara, Medan, Indonesia Jl, Abdul Hakim No. 4, Padang Bulan, Medan, North Sumatera, 20155, Indonesia

⁴Faculty of Law, Universitas Sumatera Utara, Medan, Indonesia Jl, Abdul Hakim No. 4, Padang Bulan, Medan, North Sumatera, 20155, Indonesia

⁵Supreme Court of the Republic of Indonesia, Jakarta, Indonesia Jl., Medan Merdeka Utara No. 9-13, Jakarta Pusat, DKI Jakarta, 10110, Indonesia

^*Corresponding author. Email: dedy@students.usu.ac.id

Corresponding Author

Dedy Dedy

Available Online 22 February 2024.

DOI: 10.2991/978-2-38476-218-7_76 How to use a DOI?
Keywords: Bankruptcy; insurance companies; benefits
Abstract: This article aims to explore the position of an insurance company that is subject to specific conditions when applying for bankruptcy and requesting a postponement of debt payment obligations. Consequently, their business activities are closely tied to public interest. The focus of the issue lies in understanding the authority of the Financial Services Authority in overseeing bankruptcy filings and debt payment obligation postponements for insurance companies. To address this concern, Jeremy Bentham's theoretical framework is employed, leveraging his utilitarian perspective, which posits that the objective of the law is to achieve the greatest happiness for the greatest number of people. The research methodology adopts a normative legal approach, employing descriptive analytical techniques. Data sources encompass primary legal materials and secondary sources. The data collection process involves library research, with qualitative analysis being applied. This study concludes that the harmonization of diverse regulations pertaining to bankruptcy filings and the suspension of debt payment obligations for insurance companies is of utmost importance. Such harmonization aligns with a benefit-oriented approach aimed at safeguarding public interests.
Open Access: Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title: Proceedings of the International Conference On Law, Economic & Good Governance (IC-LAW 2023)
Series: Advances in Social Science, Education and Humanities Research
Publication Date: 22 February 2024
ISBN: 978-2-38476-218-7
ISSN: 2352-5398
DOI: 10.2991/978-2-38476-218-7_76 How to use a DOI?
Open Access: Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

ris enw bib

TY  - CONF
AU  - Dedy Dedy
AU  - Hasim Purba
AU  - Mahmul Siregar
AU  - Detania Sukarja
AU  - Haswandi Haswandi
PY  - 2024
DA  - 2024/02/22
TI  - Legal Theory Approach to Expediency in Filing Bankruptcy Requests and Postponement of Debt Payment Obligations in Indonesia
BT  - Proceedings of the International Conference On Law, Economic & Good Governance (IC-LAW 2023)
PB  - Atlantis Press
SP  - 456
EP  - 461
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-218-7_76
DO  - 10.2991/978-2-38476-218-7_76
ID  - Dedy2024
ER  -

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