JAKARTA – The Doctor of Law Program of the Faculty of Law, Pancasila University (UP) proposes the reconstruction of Law Number 37 of 2004 concerning Bankruptcy and Debt Payment Suspension (PKPU) through the implementation of an insolvency test as a condition before the court issues a bankruptcy decision. The proposal is considered important to prevent companies that are still financially healthy from being bankrupt just because they meet administrative requirements.
The idea was conveyed in the summary of Michael Gerald Jusanti’s dissertation which was defended at the open session of the Doctoral Program in Law at the Faculty of Law, Pancasila University.
Michael assessed that the provisions in the…