Client Alert – Constitutional Court Decision on PKPU
On 15 December 2021, the Constitutional Court issued Decision No. 23/PUU-XIX/2021 (Decision 23) regarding the judicial review of Law Number 37 of 2004 on Bankruptcy and Suspension of Debt Payment Obligation (Law No. 37/2004). Under Law No. 37/2004, Suspension of Debt Payment Obligation (Penundaan Kewajiban Pembayaran Utang/PKPU) decisions are not subject to any legal remedies. Decision 23, in essence, ruled that a PKPU decision may be subject to cassation if it concerns a PKPU petition initiated by the creditor and concerns the rejection of the composition plan submitted by the debtor.
This article will discuss the Constitutional Court’s rationale in issuing Decision 23 and its effects on the practice of PKPU in the future.
Please see here for the complete newsletter: Client Alert – Constitutional Court Decision on PKPU
#wespeakyourlanguageClient Alert – Constitutional Court Decision on PKPU