« Back to Actio#5

CURATOR APPOINTMENT MUST BE APPROVED BY CREDITOR

The appointment of curators and administrators by debtors must now be approved by creditors. The obligation is stipulated in Supreme Court Circular Number 2 Year 2016 on Increasing Efficiency and Transparency of Bankruptcy Case Handling and Delay of Debt Payment obligation (“SEMA 2/2016”).

At the practical level, SEMA 2/2016 has been implemented in the Supreme Court decision on appeal with Number. 196K/Pdt.Sus-Pailit/2017. In that case, PT. RPS submits a request for bankruptcy statement against itself. At the first level, the Jakarta Commercial Court Judges declined the request for bankruptcy statements filed by PT. RPS on the grounds that PT. RPS as the debtor does not attach a letter of approval from the creditor towards the proposal of the curator. Although PT. RPS filed an appeal, the effort was foundered after the Supreme Court rejected the request at the appeal level.

The reason for the rejection of the Supreme Court of Justice is because the applicant does not attach a letter of approval from the creditor to the proposed curator. Therefore, the request for bankruptcy does not comply with the provisions in the Supreme Court Circular Number 2 Year 2016 on Enhancing Efficiency and Transparency of Bankruptcy Case Handling and Suspension of Payment (“SEMA”).