IMPLEMENTASI INSOLVENCY TEST SEBAGAI BENTUK PEMBAHARUAN HUKUM KEPAILITAN DI INDONESIA

Abstract

Bankruptcy is a legal regime for creditors to be able to collect their debts from debtors, bankruptcy is currently regulated in Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations, according to this law debtors can be filed for bankruptcy if they have at least 2 creditors and debts that are due and can be proven simply. This requirement has a negative impact on debtors who are still able to pay, this is because the requirements for bankruptcy applications do not include requirements for inability to pay or insolvency, while in essence bankruptcy can only be applied to debtors who are unable to pay their debts or insolvency, thus the need for an insolvency test mechanism in the bankruptcy legal regime in Indonesia. The adoption of the insolvency test can also be a consideration for judges in deciding whether the debtor is still solvent or has entered a state of insolvency.

Key words: Bankruptcy; Insolvency Test; Debtor.