Author
Dr Yuhelson
Organisation/Institution
University Jaya Baya
Country
INDONESIA
Panel
Bankruptcy
Title
DUTIES AND AUTHORITIES OF THE CURATOR IN THE SETTLEMENT OF CROSS BORDER INSOLVENCY ASSETS
Abstract
Effective from the date the bankruptcy decision is issued, the curator is authorized to manage and/or liquidate the bankrupt estate, even if the decision is subject to cassation or judicial review (Article 16 paragraph (1) of the Bankruptcy and Suspension of Debt Payment Obligations Law). According to Article 69 paragraph (1), the duties and authority of the curator are to manage and/or settle bankrupt assets, which include: salvaging, managing, securing, and selling bankrupt assets. In principle, the duties and authority of the curator in managing and/or settling bankrupt assets are divided into three stages: the inventory stage, the verification stage, and the settlement stage of bankrupt assets. As for the bankrupt estate assets located outside the territory of the Republic of Indonesia, they are regulated in Part Two, Chapter Ten of the KPKPU Law on International Provisions. When a bankrupt debtor has assets located outside the jurisdiction of Indonesia, cross-border bankruptcy applies. Curators often encounter obstacles related to the settlement of bankrupt estates located abroad, because the provisions in the KPKPU Law have not clearly, detailedly, and comprehensively regulated cross-border bankruptcy arrangements. Cross-border bankruptcy issues are constrained by the principle of territorial jurisdiction, as each country has full sovereignty to apply jurisdiction related to property and persons, as well as civil and criminal legal matters within its territorial boundaries. Provisions of Article 436 of the Reglement Burgelijke Rechtverordering (RV), foreign court decisions cannot be enforced within the territory of the Republic of Indonesia, likewise, decisions of district courts or commercial courts in Indonesia cannot be enforced outside the jurisdiction of Indonesia. The absence of a bilateral agreement between Indonesia and foreign countries regarding cross-border bankruptcy, create difficulties for the curator in managing and settling the bankrupt estate assets located outside the territory of the Republic of Indonesia.
Biography
Dr. H. Yuhelson, S.H., M.H., M.Kn., completed his Bachelor’s degree (S-1) at the Faculty of Law, Andalas University (UNAND) Padang in 1993, his Master’s degree (S-2) in Law at the University of Indonesia (UI) Jakarta in 2004, his Master’s degree (S-2) in Notary Law at Diponegoro University (UNDIP) Semarang in 2010, and his Doctoral Program in Law at Jayabaya University Jakarta in 2016. He is the Managing Partner at Yuhelson and Partners Law Office, the Director of the Postgraduate Program at Jayabaya University, and actively serves as a Lecturer in the Doctoral Program in Law and the Master’s Program in Notary Studies at Jayabaya University, holding the functional position as an Associate Professor since 2022. He also actively participates in teaching at several institutions, such as in the Pendidikan Intensif Kurator dan Pengurus di Ikatan Kurator dan Pengurus Indonesia (IKAPI), the Bankruptcy Law Education and Training at the Inheritance Hall of the Ministry of Law and Human Rights of the Republic of Indonesia, the Research and Development Agency (LITBANG) of the Supreme Court of the Republic of Indonesia, the Law and Judiciary Education and Training (DIKLAT) of the Supreme Court of the Republic of Indonesia, and the PKPA organized by several Educational Institutions and advocate organizations.
