MENGGUGAT STATUS QUO REGULASI STAY (KEADAAN DIAM): MENYAMBUT ARAH BARU HUKUM KEPAILITAN INDONESIA

• Main Author: Rizky Andira, (Author)
• Format: Book
• Published: Fakultas Hukum Universitas Udayana, 2023-10-28.
• Subjects: Article; PeerReviewed
• Online Access: Link Metadata
• Notes: http://repository.upnvj.ac.id/28705/1/2010611130_ArtikelKI.pdf
• Keywords: K Law (General)

This paper is made to analyze the status quo of the stay regulation in Law No. 37 of 2004 concerning Bankruptcy and PKPU (UUK-PKPU) to adjust itself to become one part of bankruptcy dispute resolution in the middle of the development of business facilities. In its preparation, this paper uses a normative legal research method with a legislative and comparative study approach with the US Bankruptcy Code from the United States as an example of bankruptcy law in the world that applies the "automatic stay" regulation. The study results state that the stay regulation in UUK-PKPU has not been implemented as mandated in the explanation of Article 56 paragraph (1). Regarding the comparison of the stay regulation with the US Bankruptcy Code, both are equally applied to stop all legal actions and execution efforts carried out by Creditors to Debtors, and have a very close impact on the condition of the bankruptcy estate and the bankruptcy process itself. The main difference that distinguishes the two is related to the starting time of the regulation. In its application, there is an in-depth discussion of the advantages and disadvantages that make both regulations complement each other. Furthermore, there are several possibilities for the automatic stay regulation to be applied in the future UUK-PKPU order. By prioritizing objectivity and a broad perspective, this paper can open the horizons of knowledge regarding the status quo of stay regulations in bankruptcy law in Indonesia and the United States.