The impact of Article 1131 of the Civil Code on individual bankruptcy in Indonesia
DOI:
https://doi.org/10.35295/sz.iisl.2412Palavras-chave:
Bankruptcy, Civil code, Debtor's Assets, Individuality, 1131 articleResumo
Indonesia’s bankruptcy process does not set a specific time limit for the sale of assets, including bankruptcy bonds, which are the responsibility of the curator. This condition does not create further legal consequences for a Limited Liability Company, as once declared bankrupt, the legal entity is legally deemed to no longer exist (rechtspersoon disbanded). It differs from individual debtors, who remain legal entities but are unable to engage in new business activities during the bankruptcy process. This study employs a normative juridical method, combining a statutory and conceptual approach, to examine the provisions of Article 1131 of the Civil Code, relevant legal principles, and doctrines in bankruptcy law. This approach enables analysis of the possibility that future assets may be included in the bankruptcy estate, which could hinder the economic recovery of individual debtors. Therefore, it is necessary to further regulate the norm through additional provisions in the Bankruptcy Law.
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