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Journal articles on the topic 'Bankruptcy and Insolvency Law'

Author: Grafiati

Published: 3 June 2025

Last updated: 31 July 2025

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1

Billy Jayando Parasian Sinaga and Dewa Gede Pradnya Yustiawan. "Analisis Yuridis Insolvency Test dalam Penyelesaian Kepailitan dan PKPU Ditinjau dari UU No 37 Tahun 2004." Hukum Inovatif : Jurnal Ilmu Hukum Sosial dan Humaniora 1, no. 4 (2024): 186–93. https://doi.org/10.62383/humif.v1i4.656.

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According to Law Number 37 of 2004 tates that bankruptcy is general confiscation of assets of bankrupt debtor. Those failure to pay debtors commonly beacause of a strain in company's financial condition. The purpose of imposition of bankruptcy is to protect both bankrupt debtor and creditors. In the development of bankruptcy in Indonesia, the regulation of Insolvency test in imposing companies bankruptcy, especially companies with legal status, has not been regulated in Law No. 37 of 2004. Insolvency is the failure to done a financial responsibility in the due date as is appropriate in a compa

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2

Andriyanto Adhi Nugroho, Guna Gerhat Sinaga, Muhammad Fikri, Azareel Sulistiyanto Jusuf, Natasya Fhadyah Azzahra, and Adira Mutiara Jasmine. "Urgensi Penerapan Tes Insolvensi Atas Perusahaan Yang Akan Diputus Pailit." Deposisi: Jurnal Publikasi Ilmu Hukum 1, no. 4 (2023): 231–46. http://dx.doi.org/10.59581/deposisi.v1i4.1810.

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In the law embodied in Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations, there isn't a requirement stipulating that a debtor must be declared unable (insolvent) to pay their debts through an insolvency test as a condition to determine their bankruptcy status or not. Instead, the debtor's bankruptcy status is established by proving that the debtor has a minimum of 2 (two) creditors, has failed to pay at least 1 (one) due and collectible debt. The absence of insolvency testing as a bankruptcy criterion in Indonesia could lead to companies that are actually c

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3

Fauzi, M. "Insolvency within Bankruptcy: The Case in Indonesia." SHS Web of Conferences 54 (2018): 06004. http://dx.doi.org/10.1051/shsconf/20185406004.

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The Bankruptcy institutions are an extraordinary mechanism in debt settlement. The extraordinary characteristic distinguishes bankruptcy institutions with other mechanisms in debt settlement. This particular characteristic stems from the debtor’s inability to pay all of his debts due. However, two of the Indonesian bankruptcy laws do not include insolvency conditions as the basis for granting bankruptcy status to the debtor. Such legal politics resulted in the use of bankruptcy institutions deviated from their philosophy and vulnerable to abuse. With a post-positivist approach, this paper exam

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4

Kiryushina, Irina, and Ekaterina Kovalenko. "Cross-Border Bankruptcy: Concept, Fundamentals of Legal Regulation, Law Enforcement Practice." Legal Linguistics, no. 31 (42) (April 1, 2024): 27–33. https://doi.org/10.14258/leglin(2024)3105.

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In the context of the internationalization of the economies of different countries, when the insolvent debtor and creditors have different nationalities, or the property of the insolvent debtor, which is being foreclosed on by creditors, is located in different countries, differences in national systems of legal regulation of insolvency are a serious obstacle to resolving issues related to the recognition of the debtor as bankrupt and satisfaction of creditors' claims. Attempts to unify the international legal regulation of cross-border insolvency relations, undertaken for a long time, have fa

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5

Litskas, Mark, and Yuri Kholodenko. "Back to the Issue of the Signs of Personal Insolvency (Bankruptcy)." Legal Linguistics, no. 32 (43) (July 1, 2024): 37–42. https://doi.org/10.14258/leglin(2024)3207.

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The article covers the study of signs of personal insolvency (bankruptcy). In the course of the study the authors have concluded that currently there are only two principles (criteria) in the world that set out the signs of bankruptcy, when an individual (citizen) can be deemed unable to pay their debts (bankrupt), namely the principle of non-payment and the principle of insolvency. As it stands in 2024, there are two patterns in the Russian law for regulating signs of personal bankruptcy: for applications from debtors themselves and for applications from their creditors (authorized body). Wit

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6

Shubhan, M. Hadi. "Legal Protection of Solvent Companies from Bankruptcy Abuse in Indonesian Legal System." Academic Journal of Interdisciplinary Studies 9, no. 2 (2020): 142. http://dx.doi.org/10.36941/ajis-2020-0031.

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In bankruptcy legal system in Indonesia, the court can issue bankruptcy verdict without assess a company’s solvency condition, whether the company is solvent or insolvent. The provision of this law is very prone to be misused by creditors with bad faith. Insolvency test is able to protect debtors and to prevent the abuse of bankruptcy by malice creditors. This paper aims to analyze the legal protection of solvent companies from bankruptcy abuse in Indonesian legal system. By using normative and juridical approach, the results showed that the insolvency test can be included in the future amendm

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7

Edmon, Safari. "A critical assessment of administration as a rescue mechanism of an insolvent corporate debtor in Uganda." NEWPORT INTERNATIONAL JOURNAL OF CURRENT RESEARCH IN HUMANITIES AND SOCIAL SCIENCES 4, no. 3 (2024): 70–74. http://dx.doi.org/10.59298/nijcrhss/2024/4.3.7074.

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Insolvency law enhances growth and alleviates financial challenges of businesses, but it can also be inefficient and delay commercial justice. This article critically evaluated Uganda's insolvent corporate debtor administration method and impacts. At the end, the article call for the bankruptcy protective order duration to be extended to at least a month in order to allow a debtor to establish payment arrangements. This period may be sufficient for the bankrupt to decide on the next steps to take to clear their debts, compared to the 14 days allowed under present insolvency law. Without increa

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8

Manushin, D. V. "Clarifying the concepts of bankruptcy, non-creditworthiness and insolvency of legal entities in the context of sanctions and import substitution." Russian Journal of Economics and Law 19, no. 2 (2025): 273–311. https://doi.org/10.21202/2782-2923.2025.2.273-311.

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Objective: to propose a new vision of the terms “bankrupt”, “bankruptcy”, “bankruptcy of legal entities”, “non-creditworthiness” and “insolvency”, corresponding to the current situation of counteracting sanctions and developing import substitution in the Russian economy.Methods: abstract-logical, comparative law studies, interpretation of law, theoretical-legal modeling.Results: the concepts of “bankrupt”, “bankruptcy” and “insolvency” were summarized and critically evaluated. The author compared stages of bankruptcy and exit from insolvency of legal entities in Russia with the essence of the

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9

Gil, Izabella. "Ponadczasowość regulacji prawnych dotyczących niewypłacalności." Studia nad Autorytaryzmem i Totalitaryzmem 43, no. 4 (2021): 241–51. http://dx.doi.org/10.19195/2300-7249.43.4.19.

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The study describes the legal regulations concerning insolvency in the period of the Second Polish Republic. The political system of the Republic of Poland in the years 1926–1935 is described as authoritarian in order to distinguish it from the total fascist system. The difficult economic and financial situation of the Polish state during the post-partition period required state interference in introducing legal regulations ensuring protection of creditors, while taking into account the rights of debtors who became insolvent for no fault of their own. Bankruptcy became a society-wide pro

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10

Basu, Asmita. "Insolvency and Bankruptcy Code marks the new era of Financial Reform in India." Kindler XXII, no. 1&2 (2022): 96–107. https://doi.org/10.5281/zenodo.7854641.

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<em>Bankruptcy is used as the formal procedure for individuals (not companies in many countries) who are declared by law to be insolvent. The insolvency and bankruptcy processes in India are not governed by a single piece of general legislation. In the situation of insolvency, to solve the problem of NPA, make the exit process easier for the investors and attract fresh capital and foreign investors, a new legislative framework has been evolved known as Insolvency and Bankruptcy Code, 2016 (IBC). IBC, 2016 was passed by the Parliament on 11<sup>th</sup> May 2016, and received Presiden

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11

Bauer, Kinga. "Kryzys finansowy a restrukturyzacja przedsiębiorstw w stanie upadłości." Studies of the Industrial Geography Commission of the Polish Geographical Society 15 (January 1, 2010): 209–18. http://dx.doi.org/10.24917/20801653.15.18.

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Bankruptcy of enterprises is generally recognized as a negative phenomenon. In practice, the institution of bankruptcy aims at protecting interests of the market game participants. It eliminates from the market the enterprises which are not able to conduct their activities effectively. This way, it also protects other entities from establishing relationships with a company which is unable to rival its competitors. The article concerns problems of insolvent and bankrupt companies in the financial time crisis. It brings up theoretical and practical aspects of this issue. Some enterprises are not

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Dewi, Putu Eka Trisna. "The Cross-Border Insolvency in the Execution of Bankrupt Assets Outside Indonesian Jurisdiction: A Comparative Study with Malaysia, Singapore, and the Philippines." IKAT: The Indonesian Journal of Southeast Asian Studies 5, no. 1 (2021): 47. http://dx.doi.org/10.22146/ikat.v5i1.64157.

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Insolvency institutions have an important role in realizing legal certainty in the settlement of debt and credit disputes, which is one of the risks that arise from the rapid development of international business transactions. Bankruptcy cases containing foreign elements are called cross-border insolvency. The problems that arise in cross-border insolvency are more complex, especially regarding the execution of assets of bankrupt debtors situated outside Indonesia's jurisdiction. This study uses a doctrinal legal research method with a statutory approach. Bankruptcy in Indonesia is regulated i

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13

Kovalyshyn, Oleksandr. "Ukrainian Insolvency Law: Retrospective And Current Issues." Gdańskie Studia Prawnicze, no. 2(54)/2022 (July 11, 2022): 45–53. http://dx.doi.org/10.26881/gsp.2022.2.04.

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The article is devoted to the historical and current issues of Ukrainian insolvency law. The author states that the insolvency law after 1991 passed three stages: 1) 1991 to 1996 – the replacement of soviet legislation in an independent state and the adoption of the Law of Ukraine “On Restoring Debtor’s Solvency or Declaring a Debtor Bankrupt”; 2) 1996 to 2018 – the influence of European doctrine of insolvency law based on restoration of the debtor’s solvency; 3) 2018 – the current stage of insolvency law based on the Ukrainian Code of Bankruptcy Procedures. It is emphasized that the new

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14

Hidayat, Anwar, Muhamad Abas, and Dalih Purwana. "JURIDICAL REVIEW OF BANKRUPTCY CONDITIONS AND DELAY OF DEBT REPAYMENT OBLIGATIONS." Awang Long Law Review 6, no. 1 (2023): 231–36. http://dx.doi.org/10.56301/awl.v6i1.992.

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Bankruptcy results in a general confiscation of all assets of the bankrupt debtor (budel bankrulit). An important phase in the bankruptcy process is the insolvency stage. Based on the explanation of Article 57 paragraph 1 of the Bankruptcy Law and PKPU, what is meant by insolvency is the state of inability to pay, this is in line with the Central Jakarta Commercial Court Decision Number: 44 / PDT. SUS. PAILIT/20 20/PN. TRADE. JKT. PST. That PT. Pazia Retailindo was declared bankrupt. Application for bankruptcy filed by PT. Dana Kaya through its Directors, namely Sri Dewi Endang Mumpuni and Amb

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15

Maksimova, O. A. "CIVIL LAW REGULATION OF BANKRUPTCY (INSOLVENCY) OF A LEGAL ENTITY: CURRENT STATE OF RESEARCH." Region: systems, economy, management 2, no. 53 (2021): 152–57. http://dx.doi.org/10.22394/1997-4469-2021-53-2-152-157.

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Subject. Problems of civil law regulation of bankruptcy of a legal entity in the conditions of market management in the Russian Federation. Topic. Civil law regulation of bankruptcy (insolvency of a legal entity: a modern research context. Goals. Identification of the state of research on the problem of legal regulation of the bankruptcy procedure of a legal entity in modern Russian civil law science. Methodology. The research uses general scientific methods of information analysis and synthesis, as well as the civil law method. Results. The main thematic areas of civil law research on the pro

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16

Mbila, Augustus Mutemi. "From Debtor Repression to Protection: Giving Debtors a Fresh Start under the Kenyan Insolvency Regime." Eastern Africa Law Review 49, no. 1 (2022): 92–121. http://dx.doi.org/10.56279/ealr.v49i1.3.

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Anchored on the normative foundations of the fresh start policy, this article examines the treatment of bankrupts under Kenya’s repealed Bankruptcy Act, Cap 53 Laws of Kenya and then traces the elements of the fresh start policy under the Insolvency Act of 2015 repealed Cap 53. Results show that Cap 53 was repressive against the bankrupt and he was never given a second chance in his economic and social life for the benefit of his creditors. Results also show that under the Insolvency Act of 2015, the bankrupt has a second chance to run his businesses as a going concern and can therefore pay hi

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17

Gil, Piotr. "Acquisition of real property from a party which is either insolvent or at risk of insolvency: issues relating to time limits for challenging real property acquisition." Nieruchomości@ II, no. II (2022): 49–68. http://dx.doi.org/10.5604/01.3001.0015.8598.

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A debtor at risk of insolvency often sells or encumbers valuable assets and, by doing so, he or she may prevent their creditors from obtaining satisfaction. Where certain prerequisites are met, the creditors may challenge the legal actions of the debtor relying on ‘actio Pauliana’ (a complaint to set aside fraudulent conveyance) regulated in Article 527 et seq. of the Polish Civil Code. If a debtor is declared bankrupt, the right to challenge fraudulent conveyance to the detriment of the creditors of assets belonging to the bankruptcy estate is exercised by the trustee in bankruptcy. The acqui

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18

Benocci, Alessandro. "Reforming Italian Insolvency Law: Bankruptcy vs Judicial Liquidation." European Business Law Review 29, Issue 2 (2018): 291–311. http://dx.doi.org/10.54648/eulr2018010.

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The Italian Parliament has recently approved the Enabling Law no. 155/2017, which draws on the results of the work of the so-called Rordorf Commission, previously established by the Minister of Justice with the task of preparing a general reform proposal on corporate rescue and insolvency (Reform Law). Among the interventions envisaged, the Reform Law provides for the elimination of the term “bankruptcy” from the Italian insolvency panorama and the replacement of the bankruptcy proceeding with a new procedure, called “judicial liquidation”. The explanatory memorandum says that the decision to

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19

Tan, Kendry, Yudhi Priyo Amboro, and Elza Syarief. "Strategies for Preventing Bankruptcy: Adopting Insolvency Tests from the United States Perspective to Indonesia." Journal of Judicial Review 25, no. 1 (2023): 139. http://dx.doi.org/10.37253/jjr.v25i1.7765.

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Companies don't always make a profit and taking loans from banks or other companies to ensure smooth business operations can put a company's existence in danger. Failure to repay loans can lead to bankruptcy, declared by the competent commercial court upon request of the creditor or debtor. The ease with which bankruptcy requirements are regulated under Indonesian law can lead to economic problems. This study seeks to examine the differences between bankruptcy laws in Indonesia and the United States, the challenges in implementing an insolvency test in Indonesia, and the benefits of such a tes

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20

Boltenkova, Yuliya V., Vladimir S. Sinenko, Sergey A. Rubanov, Oksana S. Lilikova, and Aleksey Yu Gordeev. "Bankruptcy Procedure for Individuals in Russia and the USA: Comparative Legal Analysis." Cuestiones Políticas 37, no. 64 (2020): 92–100. http://dx.doi.org/10.46398/cuestpol.3764.07.

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Bankruptcy is the legitimate procedure by which monetarily troubled firms, people, and sporadically governments settle their obligations. The insolvency procedure for firms assumes a focal job in financial aspects, since rivalry drives the most wasteful firms bankrupt, subsequently raising the normal proficiency level of those remaining. This study provides a comparative analysis of the most significant aspects of bankruptcy for individuals in Russia and the United States. The objective of the study was to determine the conditions involved in declaring a citizen insolvent in US and Russian law

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21

Braun, Susanne. "German Insolvency Act: Special Provisions of Consumer Insolvency Proceedings and the Discharge of Residual Debts." German Law Journal 7, no. 1 (2006): 59–70. http://dx.doi.org/10.1017/s2071832200004405.

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Information about the insolvency of big enterprises such as Enron and Worldcom in the United States; Bremer Vulkan, Philip Holzmann, Babcock Borsig, CargoLifter, Walter Bau and “Ihr Platz GmbH & Co KG” in Germany; and discussion about the insolvency of States (e.g. Argentina) has awakened public interest in insolvency law and proceedings. Both the high number of insolvent enterprises and the increasing rate of consumer insolvency are shocking.The German Insolvency Act of 1999 created a uniform insolvency statute for all of Germany. In most cases, upon the instituting of insolvency proceedi

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22

Zairi Absi, Warmiyana, and Marsudi Utoyo. "Legal Analysis of Corporate Insolvency: A Case Study of the Insolvency Resolution Process." International Journal of Social Service and Research 3, no. 12 (2023): 3316–23. http://dx.doi.org/10.46799/ijssr.v3i12.651.

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Bankruptcy is a situation that can be experienced by all who run their business, bankruptcy is a debtor who is in an unfavorable state because all his assets are not enough to meet his needs to pay all his debts. So that legal problems arise when a company experiences financial difficulties, in Indonesia bankruptcy law is regulated in Law number 37 of 2004. The purpose of the study is to analyze bankruptcy law, especially the bankruptcy settlement process. The research method used in this study is the descriptive qualitative method. Data collection is carried out through literature studies (li

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ZHIL'TSOVA, Yuliya V., and Vladimir A. STRAKHOV. "Formulating a stand-alone paradigm of the concepts Bankruptcy and Insolvency of legal entities." International Accounting 22, no. 7 (2021): 826–44. http://dx.doi.org/10.24891/ia.24.7.826.

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Subject. The terms, such as Bankruptcy and Insolvency, are used in various regulatory documents of the Russian Federation. The protracted economic crisis due to the pandemic urges to solve disputable issues and improve the legal framework of the business bankruptcy procedure. Objectives. The study provides a rationale for formulating standalone paradigms for bankruptcy and insolvency for scientific and practical purposes, aligning development phases of the national institution of bankruptcy. Methods. The study relies upon general and partial methods of research. Based on the retrospective anal

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24

Zarzycki, Adam. "Directions of Change in the Regulation of the Notion of Insolvency under the Polish Bankruptcy Law." Roczniki Nauk Prawnych 28, no. 3 ENGLISH ONLINE VERSION (2019): 129–50. http://dx.doi.org/10.18290/rnp.2018.28.3-8en.

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The study outlines three concepts of legal regulation of the concept of insolvency based on the pre-war bankruptcy law, the bankruptcy and reorganization law and the new bankruptcy law in force today. The aim is to capture the overall direction of the optimal model of regulation. The concept of insolvency, which determines the possibility of opening bankruptcy proceedings, is of key importance here. Bankruptcy, which typically entails stigmatisation of an undertaking to a lesser or greater degree, has a negative impact on its social and economic environment. A declaration of bankruptcy is, alb

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Aprita, Serlika. "Perlindungan Hukum bagi Debitor di Indonesia Sehubungan Tidak Adanya Insolvency Test." ADALAH 5, no. 3 (2022): 20–29. http://dx.doi.org/10.15408/adalah.v5i3.27640.

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The embodiment of legal protection for debtors whose companies still have the prospect of continuing but the debtor's financial condition in a state of inability to pay must be declared bankrupt due to the absence of an insolvency test which is considered contrary to the application of the going concern principle, which is related to the existence of expectations regarding the concept of the Indonesian Bankruptcy Law. in the future, especially regarding the shift in the purpose of the Bankruptcy Law, where initially the Bankruptcy Law aimed to liquidate debtor's assets, so it is hoped that in

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Deb, Shakti, and Indrajit Dube. "Insolvency and Bankruptcy Code 2016: revisiting with market reality." International Journal of Law and Management 63, no. 1 (2020): 125–46. http://dx.doi.org/10.1108/ijlma-05-2020-0133.

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Purpose This paper aims to revisit the Indian experience on corporate bankruptcy law to answer “why Indian corporate insolvency law structured differently from a manager-driven (pre-Insolvency Code) to manager-displacing model (post-Insolvency Code)?” Design/methodology/approach This paper is qualitative in nature. The paper analyses the prevailing theoretical wisdom in corporate insolvency law in India and examines the practices of Indian bankruptcy regime. Findings The authors argued, considering the corporate ownership composition, the Insolvency and Bankruptcy Code 2016 will not accomplish

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Mykhalniuk, O. V., and B. Pyrih. "Bankruptcy of an individual entrepreneur in Ukraine." Analytical and Comparative Jurisprudence 1, no. 3 (2025): 283–88. https://doi.org/10.24144/2788-6018.2025.03.1.42.

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The article reveals the essence of the institution of bankruptcy of an individual entrepreneur in Ukraine as a legal procedure for settling relations between an insolvent debtor and their creditors. The current legislation regulating the bankruptcy of individual entrepreneurs, in particular the Civil Code of Ukraine and the Bankruptcy Code of Ukraine, is analyzed, defining the key conditions and grounds for initiating bankruptcy proceedings. The article examines in detail the procedural aspects of individual entrepreneur bankruptcy, including the jurisdiction of cases, the procedure for filing

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Storme, Matthias E., Brigitta Lurger, Arthur Salomons, and Isabel González Pacanowska. "Hof van cassatie van België / Cour de cassation de Belgique, 31 January 2002 - The effect of avoidance in bankruptcy as against a third party acquirer in good faith." European Review of Private Law 12, Issue 6 (2004): 789–809. http://dx.doi.org/10.54648/erpl2004045.

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The case decided by the Belgian Hof van cassatie/Cour de cassation on 31 January 2002 concerns the effects of avoidance in bankruptcy of an impeachable transaction by the bankrupt debtor disposing of assets, and especially the conflict with a subsequent acquirer of these assets. The bankrupt debtor (Transport de Koning) had transferred shortly before bankruptcy a trailer in lieu of payment to its creditor Diemotrans. Diemotrans had sold and delivered the trailer shortly after bankruptcy to a subsequent buyer in good faith, the LLC André. The insolvency administrator (Driessen) asked the court

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Okta Putri Setia Ningtias. "Kewenangan Kurator Dalam Mengeksekusi Aset Debitor Pada Kepailitan Lintas Batas (Cross Border Insolvency)." Al Qodiri : Jurnal Pendidikan, Sosial dan Keagamaan 22, no. 2 (2024): 201–15. https://doi.org/10.53515/qodiri.2024.22.2.201-215.

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Article 1 of Law No. 37/2004 on Bankruptcy and Postponement of Debt Payment Obligations, what is meant by Bankruptcy is a general confiscation of all assets of the Bankrupt Debtor whose management and management is carried out by the Curator under the supervision of the Supervisory Judge as regulated in this Law. Guidelines for the execution of the assets of Bankrupt Debtors located outside Indonesia are not regulated in Law Number 37 Year 2004 on Bankruptcy and Suspension of Debt Payment Obligations. Furthermore, Indonesia is not bound by an international agreement related to cross-border ins

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Hikmah, Nurul. "Legal Implications of the Territorial Principle on Cross-Border Insolvency in Indonesian Bankruptcy Law." Justice Voice 3, no. 2 (2024): 87–96. https://doi.org/10.37893/jv.v3i2.1136.

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Economic development across countries plays a crucial role in shaping an economic system that adapts to changing times. However, economic activities are inherently linked to various transactions, which may result in companies facing challenges, losses, or even bankruptcy. In Indonesia, bankruptcy regulations are governed by Law No. 37 of 2004 on Bankruptcy and Suspension of Debt Payment Obligations. Indonesia adheres to a territorial principle in handling cross-border insolvency cases, which affects the authority of the trustee and the rights of creditors. This study aims to analyze the legal

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Panji Ahmad Setiawan and Imam Haryanto. "Analysis of the UNCITRAL Model Law on Cross-Border Insolvency and Its Potential Effectiveness in Indonesia." Jurisprudentie : Jurusan Ilmu Hukum Fakultas Syariah dan Hukum 11, no. 2 (2024): 137–51. https://doi.org/10.24252/jurisprudentie.v11i2.51976.

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Trade in the current era of globalization involves many countries around the world, both in bilateral and multilateral relationships. This has transformed trade from being limited to a single country into what is known as international business or international trade. With the rapid development of international business, various issues have emerged, including insolvency that involves more than one country with different jurisdictions, commonly referred to as cross-border insolvency. Currently, Indonesian law does not regulate this aspect, resulting in a legal vacuum regarding the execution of

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Afilia Dinda Dhiya Ulhaq. "The Position of Creditors of Individual Collateral Holders In Insolvency Law." YURISDIKSI : Jurnal Wacana Hukum dan Sains 19, no. 1 (2023): 41–57. http://dx.doi.org/10.55173/yurisdiksi.v19i1.173.

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This researcher aims to find out about the rights of creditors of individual collateral holders in the norms of Law No. 37 of 2004 on Insolvency and Delay of Debt Payment Obligations. The researcher's method uses norrmative law with a statutory problem approach and a conceptual approach. Broadly speaking, the position of individual guarantees in the norms of the Bankruptcy Law if the insurer and debtor are declared bankrupt simultaneously, then it is a concurrent creditor and all the assets of the insurer as bankruptcy property. In the process of managing and releasing bankruptcy property, tha

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Suhartono, Suhartono. "INSOLVENCY TEST AS AN EVIDENCE INSTRUMENT IN SHARIA BANKRUPTCY CASE." Jurnal Justisia Ekonomika: Magister Hukum Ekonomi Syariah 8, no. 2 (2024): 1121–34. https://doi.org/10.30651/justeko.v8i2.22246.

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The Indonesian bankruptcy law does not make insolvency a primary requirement for bankruptcy decision-making. Bankruptcy is based on the fulfillment of cumulative elements stipulated in Article 2 of the Bankruptcy and Suspension of Debt Payment Obligations Law (UUK-PKPU), even if the debtor is still solvent. This contrasts with Sharia bankruptcy, which places insolvency as a crucial substance in bankruptcy. This research is normative legal research with a substantive analysis approach. The results show that applying an insolvency test as evidence in Sharia bankruptcy cases is urgent and becomes

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Kareva, Tatiana, and Vadim Sonin. "The problems of cross-border personal bankruptcy in russian and chinese legislation and practice." Law Enforcement Review 1, no. 3 (2017): 160–67. http://dx.doi.org/10.24147/2542-1514.2017.1(3).160-167.

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The subject of the article is the legal and practical problems of cross-border personal bankruptcyin Russia and China.The main goal of this work is to analyze the major issues and obstacles in recognition andenforcement of Russian individual bankruptcy decisions in China and introduce it to Russianscholars and legal professionals.The methodological basis is analysis of the Russian and Chinese legislation, judicial practiceand special literatureThe results, scope of application. This article discusses the possibility of applying the provisionsof the Federal Law On Insolvency (Bankruptcy) to the

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Asnil, Dicky Moallavi. "UNCITRAL Model Law on Cross Border Insolvency Sebagai Model Pengaturan Kepailitan Lintas Batas Indonesia dalam Integrasi Ekonomi ASEAN." Undang: Jurnal Hukum 1, no. 2 (2019): 323–46. http://dx.doi.org/10.22437/ujh.1.2.323-346.

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The economic integration program between the members of Association of South East Asian Nations (ASEAN) and surrounding areas that trancends national borders and citizenship potentially creates the cross borders bankrupcy problems. The problem was born when the debtor undergoing bankruptcy process has assets abroad,where the bankruptcy proceedings are hampered by the laws of the country concerned. In adition, Indonesia and ASEAN do not yet a bankruptcy regulation that binds its member states in the settlement of this problems. UNCITRAL Model Law on Cross Border Insolvency with Guide to Enactme

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Danilov, Artem. "Determination of the threat of insolvency of business entities in bankruptcy procedures." Slovo of the National School of Judges of Ukraine, no. 2(47) (October 28, 2024): 118–34. https://doi.org/10.37566/2707-6849-2024-2(47)-10.

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The article analyzes the problems of the methodology of determining the threat of insolvency of the debtor in bankruptcy cases, as a basis for imposing joint and several liability on the head of the insolvent debtor for failure to satisfy the demands of creditors. The purpose of the article is a critical analysis and assessment of regulatory definitions and existing approaches in judicial law enforcement practice to determining the state of the threat of insolvency of the debtor in bankruptcy procedures, identifying their shortcomings, developing recommendations for improving regulatory and le

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AL-Shnikat, Murad Mahmoud. "The Meaning and Declaration of Commercial and Civil Insolvency under the Provisions of the Jordanian Insolvency Law No. 21 of 2018." Journal of Politics and Law 13, no. 1 (2020): 161. http://dx.doi.org/10.5539/jpl.v13n1p161.

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The present study aimed to shed a light on commercial and civil insolvency under the provisions of the Jordanian insolvency law No. 21 of 2018. It aimed to explore the meaning and procedures of insolvency under the latter law. Under the latter law, the commercial insolvency is governed by the provisions of the insolvent debtor. Under the latter law, there are two types only of insolvency; imminent and actual insolvency. Under the latter law, the ones entitled to lodge an insolvency petition are: the creditor, debtor and the officer acting on behalf of the companies control department. Contrary

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38

Korennaya, Anna. "Terminology Analysis of the Categories "Insolvency" and "Bankruptcy": criminal law aspect." Legal Linguistics, no. 22(33) (December 27, 2021): 28–32. http://dx.doi.org/10.14258/leglin(2021)2205.

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In May 2021, the State Duma of the Federal Assembly of the Russian Federation adopted in the first reading a draft law On Amendments to the Federal Law "On Insolvency (Bankruptcy)" and Certain Legislative Acts of the Russian Federation" (in terms of reforming the institution of bankruptcy). This draft law provides for the differentiation of the concepts of "insolvency" and "bankruptcy". After analyzing the proposed changes, the author of the work came to the conclusion that the differentiation of the concepts under consideration is based on the content of the economic category and is justified

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Shishmareva, Tatyana P. "The Influence of Asset Insufficiency on the Termination of a Legal Entity’s Activities." Lex Russica 78, no. 5 (2025): 43–53. https://doi.org/10.17803/1729-5920.2025.222.5.043-053.

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The paper examines the grounds and procedure for terminating the activities of legal entities that do not have enough property (assets) to satisfy the claims of creditors, i.e., when they are in a financial crisis. The author destinguishes insolvency and lack of property of legal entities, entailing different legal consequences upon termination of their activities. It is recognized that the termination of the activities of insolvent legal entities in the insolvency procedure depends on their bankruptcy as a prerequisite for the introduction of the procedure, their ability to be reorganized, an

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40

Rudenko, L. D., and M. D. Zhitelny. "Grounds for initiating proceedings in the case of insolvency of an individual." Legal horizons, no. 24 (2020): 47–52. http://dx.doi.org/10.21272/legalhorizons.2020.i24.p46.

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The article specifies the grounds for initiating proceedings in the case of insolvency of an individual on the basis of a comprehensive comparative analysis of foreign experience, scientific literature, national legislation and practice of its application. Based on the analysis of the legislation and case law, it is noted that the Bankruptcy Code does not clearly define the term "threat of insolvency". Article 115 of the Code states that the threat of insolvency includes circumstances that confirm that in the near future the debtor will not be able to meet its monetary obligations or make norm

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41

Tsindeliani, I. A., T. D. Sadovskaya, E. G. Vasilyeva, and Zh G. Popkova. "Taxation in insolvency (bankruptcy) procedures of legal entities." Law Enforcement Review 8, no. 3 (2024): 72–81. http://dx.doi.org/10.52468/2542-1514.2024.8(3).72-81.

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Subject. The article analyzes a set of norms related to the legal regulation of personal income tax, corporate income tax, VAT, and other taxes, as well as the order of their collection (payment) from a bankrupt, depending on its organizational and legal form. The choice of the research object is due to the presence of problems related to ambiguous issues in taxation in bankruptcy proceedings.The purpose of the study. The article attempts to comprehensively analyze the legal support of the current measures regulating the taxation of bankrupt organizations and individuals, current law enforceme

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42

Mikhaylova, Valeria I. "The Mechanism of Protection of Rights of Spouses in an Insolvency (Bankruptcy) Procedure: The Retrospective Analysis." Jurist 1 (January 12, 2023): 27–32. http://dx.doi.org/10.18572/1812-3929-2023-1-27-32.

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In a retrospective review of the features of the rights of spouses and the features of ensuring these rights within the framework of the institution of insolvency (bankruptcy), the author comes to the conclusion that the more attention we pay to the conceptual foundations of family law when analyzing the rights and obligations of spouses in bankruptcy, the more, it becomes more clear to us why some property is included in the bankruptcy estate, and some is not, which affects the recognition of the debtor as insolvent. Secondly, understanding the essence of marital legal relations — previously

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Jyoti Nair and Bhavika Nemade. "Creditor Driven Insolvency Resolution Law – A Review of Intent v/s Practice." Journal of Global Economy 20, no. 1 (2024): 19–32. http://dx.doi.org/10.1956/jge.v20i1.711.

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Purpose- This paper aims to examine the effectiveness of Insolvency Law in India in addressing cases of corporate distress and enabling them to revive the business through restructuring by passing appropriate resolution as envisaged by the Law. It aims to seek evidence as to whether the ‘creditor driven insolvency resolution’ model has a propensity towards ‘resolution’ or is it driven more towards ‘liquidation’ leading to ‘value erosion.’ Design/Methodology/Approach- The paper is descriptive in nature. The paper studies the practice and impact of the Insolvency and Bankruptcy Code in India. Th

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Liubimova, E. V., and M. G. Sukhanova. "Temporal provisions of the bankruptcy doctrine." Law Enforcement Review 6, no. 3 (2022): 240–51. http://dx.doi.org/10.52468/2542-1514.2022.6(3).240-251.

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In the context of the burgeoning Russian insolvency law, the applicable regulations may undergo essential changes over a bankruptcy period due to lengthy insolvency procedures. In such case, a pivotal question for the bankruptcy participants is the application of legal developments that significantly affect the participants’ scope of rights and obligations to the initiated procedure.This study is aimed to develop and substantiate a unified procedure for the commencement of legal provisions governing the bankruptcy procedure.The following tasks promote the above purpose:1) Determining applied o

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Suvorov, E. D. "The Risk Theory of the Principle of Equality of Creditors." Kutafin Law Review 12, no. 1 (2025): 117–43. https://doi.org/10.17803/2713-0533.2025.1.31.117-143.

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The paper is devoted to the nature of bankruptcy law as a mechanism for implementing the principle of equality of creditors. This principle assumes that creditors should bear the risk of insolvency of the debtor. This risk is expressed in the proportion of the claim that turns out to be unsatisfied. Bankruptcy law deals with the distribution of the corresponding risk to creditors of different classes. The essence of the relations of the creditors of an insolvent debtor with each other can be understood through the definition of: 1) the subject in relation to which such relations arise; 2) clai

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LAZARENKO, Vitalii. "On criminalization of illegal actions in case of insolvency or bankruptcy." Economics. Finances. Law 10, no. - (2022): 5–7. http://dx.doi.org/10.37634/efp.2022.10.1.

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The paper examines the feasibility of criminalizing illegal actions in the event of insolvency or bankruptcy. In the scientific literature, attention is drawn to the impracticality of decriminalization of a number of criminal law norms in 2012, in particular, Art. 221 of the Criminal Code of Ukraine, which provided for liability for illegal actions in the event of bankruptcy. The regulatory legislation provides for property disposal, rehabilitation and restructuring procedures, which are carried out in the event of the debtor's insolvency, as well as procedures for the liquidation and repaymen

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47

Muhammad Dzaky, Budi Santoso, and Hanif Nur Widhiyanti. "Analysis Of Cross-Border Insolvency Dispute Resolution In Insolvency Practice In Indonesia." International Journal of Islamic Education, Research and Multiculturalism (IJIERM) 5, no. 3 (2023): 825–43. http://dx.doi.org/10.47006/ijierm.v5i3.275.

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The resolution of Cross-Border Insolvency disputes in bankruptcy practice in Indonesia, with a focus on court decision Number 26/PAILIT/2010/PN.Niaga.JKT.PST. This highlights the lack of specific regulations in Indonesian law regarding cross-border bankruptcy, which causes legal uncertainty in resolving such disputes. This research uses a normative juridical approach to examine the application of rules and norms in positive law. The case analysis includes a bankruptcy petition against Manwani Santosh Tekchand filed by OCBC Securities Private Limited, which raises issues regarding the evidentia

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Shishmareva, T. P. "Challenging Family Law Transactions (Actions) of an Insolvent Debtor." Actual Problems of Russian Law 20, no. 5 (2025): 116–23. https://doi.org/10.17803/1994-1471.2025.174.5.116-123.

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The paper examines the specifics of challenging transactions (actions) of an insolvent debtor regarding the division of common joint property of spouses, which cause property damage to creditors in insolvency (bankruptcy) procedures. General civil and special grounds for invalidity of transactions (actions) of the debtor and the peculiarities of their classification in judicial practice, as well as the relationship between general civil and special grounds are highlighted. The transactions (actions) that are most frequently challenged in judicial practice and the legal positions of the Supreme

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Mastilovich, Larisa. "The legal nature of pre-insolvency proceedings under Russian and European law." Vestnik of Saint Petersburg University. Law 12, no. 2 (2021): 441–54. http://dx.doi.org/10.21638/spbu14.2021.212.

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The article provides a critical analysis of bankruptcy prevention procedures in the context of interactions between the principle of self-regulation (interaction between free legal will of creditors and the debtor) and the principle “cross-class cram-down” (the right of a court to prevail over the principle of self-regulation). The judicial authority, within the framework of European preventive restructuring law, has the absolute right to discretionally decide on any issue if it is approved by the debtor (freedom of entrepreneurial activity is guaranteed to every solvent debtor). Interference

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Калканова, Ж. С., та К. Югай Югай. "БАНКРОТСТВО КАК ОСНОВАНИЕ ПРЕКРАЩЕНИЯ ДЕЯТЕЛЬНОСТИ СУБЪЕКТОВ ПРЕДПРИНИМАТЕЛЬСКОЙ ДЕЯТЕЛЬНОСТИ". НАУЧНЫЙ ЖУРНАЛ "AUEZOV UNIVERSITY", № 3 (3 вересня 2024): 164–68. https://doi.org/10.54251/2522-4026.2024.4.08.

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The article is devoted to the problem of insolvency and bankruptcy of entrepreneurs, including peasant and farm enterprises, and an analysis of the sources of legal regulation of insolvency and bankruptcy. Two fundamental legislative acts were subjected to legal analysis, such as the Law of the Republic of Kazakhstan dated January 21, 1997 “On Bankruptcy” and the Law of the Republic of Kazakhstan dated March 7, 2014 “On Rehabilitation and Bankruptcy”. It is concluded that the current law of 2014 was adopted taking into account the practice of applying bankruptcy legislation, the procedure for

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