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VOL. 10, ISSUE 4 (2024)
Reconstruction of individual guarantor regulations for postponement application of debt payment obligations based on justice values
Authors
Wahyu Adi Wibowo, Anis Mashdurohtun, Bambang Tri Bawono
Abstract
The uncertainty of the legal position of individual guarantors in the
application process for Postponement of Debt Payment Obligations has given rise
to differences in interpretation, especially the provisions of Article 254 of
the Bankruptcy Law and Postponement of Debt Payment Obligations. This research
aims to understand and analyze the weaknesses of individual guarantor
regulations in requests for postponement of current debt payment obligations
and to reconstruct individual guarantor regulations based on justice values.
This research uses a post-positivism paradigm with a juridical-empirical
approach by examining primary and secondary data by finding legal realities
experienced in the field and qualitative description methods. The results of
the research and discussion show that the regulation of individual guarantors in
requests for postponement of debt payment obligations is not based on the value
of justice due to weaknesses in legal substance where there are multiple
interpretations of Article 254, there is no legal protection for banks with
individual guarantors. Weaknesses in the legal structure consist of differences
in legal interpretation by judges regarding classification. law on individual
guarantors who can apply for Postponement of Debt Payment Obligations. Not all
avocados understand the substance of submitting a request for Postponement of
Debt Payment Obligations which results in the request for Postponement of Debt
Payment Obligations being rejected. Banks/creditors misunderstand the request
for Postponement of Debt Payment Obligations. Weaknesses in legal culture
include banking not implementing the principle of prudence in analyzing
collateral as security for banking credit agreements, bad faith by debtors in
paying debts, the absence of a database based on electronic technology
information regarding which companies have applied for Postponement of Debt
Payment Obligations and bankruptcy. To reformulate the values of justice in
the Bankruptcy Law and Suspension of Debt Payment Obligations, what the author
offers is the creation of a balance of justice rights between stakeholders,
namely debtors, guarantors, creditors and the public, through Article 254 of
Law No. 37 of 2004 concerning Bankruptcy and Postponement Debt Payment
Obligations so that Article 254 becomes 2 paragraphs, namely (1) Postponement of
debt payment obligations does not apply to the benefit of fellow Debtors and
guarantors. (2) The insurer as intended in paragraph (1) does not apply to
insurers who have waived their privileges.
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Pages:129-133
How to cite this article:
Wahyu Adi Wibowo, Anis Mashdurohtun, Bambang Tri Bawono "Reconstruction of individual guarantor regulations for postponement application of debt payment obligations based on justice values". International Journal of Law, Vol 10, Issue 4, 2024, Pages 129-133
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