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LEGAL INSIGHT

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The Validity of Receivables Transferred from Cessie Mechanism in Satisfying the Minimum Requirement of 2 (two) Creditors in the Application for Bankruptcy and Suspension of Debts Payment Obligations

The Supreme Court has acknowledged the existence of creditors derived from cessie legal act to satisfy the minimum requirement of 2 (two) creditors in the application for Bankruptcy and Suspension of Debts Payment Obligations as stated in the Results of the Civil Chamber Meeting of the Special Civil Sub Chamber as stipulated in the Circular Letter of the Supreme Court of the Republic of Indonesia Number 7 of 2012 concerning Legal Formulation of the Results of the Plenary Meeting of the Supreme Court Chamber as Guidelines for the Implementation of Duties for the Courts.


Nevertheless, in practice, there are still various legal understandings contained in the considerations of the panel of judges in the decisions of the Commercial Court and the Supreme Court in accepting and rejecting the existence of creditors derived from cessie legal act.


This Legal Insight Publication (“LIP”) analyses the validity of receivables transferred from cessie mechanism in order to satisfy the minimum requirement of 2 (two) creditors in the application for Bankruptcy and Suspension of Debts Payment Obligations.


You may download the full article in English or Bahasa Indonesia on the following link.


English Version

LIP Validity of Cessie (en) 143
.pdf
Download PDF • 9.01MB

Bahasa Indonesia Version

LIP Validity of Cessie (id) 143
.pdf
Download PDF • 9.52MB


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