Background

There are various subject of Applicant in Bankruptcy based on Law Number 37 of 2004 on Bankruptcy and Moratorium Obligation the “Indonesian Bankruptcy Lawof Debt Payment. Article 2 of Indonesian Bankruptcy Law states that the request of bankruptcy stipulation may be applied by the Public Prosecutors, Bank of Indonesia, Capital Market Supervisory Board, insurance Company and Minister of Finance.

Public Prosecutors

Public Prosecutor is able to submit bankruptcy request for public interest. Based on Indonesia Bankruptcy Law’s explanation, the public interest in here is the interest of nation, country and civilians, for instance: Read the rest of this entry »