Legal Action Against Personal Guarantor based on the Indonesian Civil Code and the Bankruptcy and Suspension of Debt Payment Obligations Law
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Legal Action Against Personal Guarantor based on the Indonesian Civil Code and the Bankruptcy and Suspension of Debt Payment Obligations Law

ByADCO Law

A. Personal Guarantor A personal guarantor is basically a guarantee for a debtor’s debt as stipulated in Articles 1820-1850 of the Indonesian Civil Code. In Article 1820 of the Indonesian Civil Code, Borgtocht or Personal Guarantee is an agreement in which a third party, for the benefit of the creditor, binds itself to fulfill the…

Other Creditors Arising From The Cessie in PKPU & Bankruptcy
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Other Creditors Arising From The Cessie in PKPU & Bankruptcy

ByADCO Law

Postponement of debt payment obligation (Penundaan Kewajiban Pembayaran Utang, “PKPU”) is a legal remedy that can be taken to restructure the debtor’s debt in order that he is able to pay off his debts. The PKPU application can be submitted either by the Debtor or the Creditor on the condition that the PKPU involves more…