Author
Assoc Prof Sonyendah Retnaningsih
Organisation/Institution
Universitas Indonesia, Faculty of Law
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
Sonyendah Retnaningsih graduated from the Doctoral Program in Law at Padjadjaran University in 2016. Currently, she is an Associate Professor in the Field of Procedural Law Studies, Faculty of Law, University of Indonesia. She is actively involved in research in the fields of Civil Procedure Law and State Administrative Court (PTUN) Procedure Law and has published many articles in various journals, such as “Expansion of the Objects of State Administrative Disputes after the Enactment of Law Number 30 of 2014 Concerning Government Administration and Supreme Court Regulation Number 2 of 2019 Concerning Guidelines for the Resolution and Authority to Adjudicate Unlawful Conducts by Government Agencies or Officials” (2021), “Resolving Business Disputes Through Small Claims Court To Support The Ease Of Doing Business In Indonesia (Comparison: Netherlands And Malaysia)” (2020), and various other articles in internationally reputable journals as well as journals accredited by the Science and Technology Index of the Ministry of Research, Technology, and Higher Education of the Republic of Indonesia. Sonyendah Retnaningsih has also published a number of books, such as “Hak Desa Atas Sumber Daya Alam Skala Desa” (The Village’s Right to Natural Resources on a Village Scale) (2016), “Perluasan Kewenangan Peradilan Administrasi dalam Mengadili Perbuatan Melanggar oleh Pemerintah” (The Expansion of Administrative Court Jurisdiction in Adjudicating Governmental Wrongdoings (Onrechtmatige Overheidsdaad-OOD) (2021), and “Implementasi Gugatan Lain-lain Dalam Kepailitan dan Penundaan Kewajiban Pembayaran Utang” (The Implementation of Other Lawsuits in Bankruptcy and Suspension of Debt Payment Obligations) (2021).
