Questioning of the idea of a moratorium on bankruptcy – Mon August 30, 2021

Agus D. Prasetyo (The Jakarta Post)

PREMIUM

Jakarta ●
Mon, Aug 30, 2021

The Indonesian Employers’ Association (Apindo) has suggested that the government enact a moratorium on bankruptcy and debt suspension (PKPU) for three years due to the economic recession caused by the pandemic. The idea sparked debates among businessmen and other stakeholders.

Maritime Affairs and Investment Coordination Minister Luhut Binsar Pandjaitan said the government is discussing the issue and considering issuing a government regulation instead of a law to implement Apindo’s suggestion. . On the contrary, several jurists opposed the idea of a moratorium on bankruptcy and the PKPU, insisting that the bankruptcy and PKPU systems were designed for both borrowers and creditors. Therefore, they should not benefit one party at the expense of the other.

In fact, bankruptcy and a PKPU moratorium can become a way out …