1. Overview
1.1 Where would you place your jurisdiction on the spectrum of debtor- to creditor-friendly jurisdictions?
Law No. 37 of 2004 on Bankruptcy and Delay of Payments (“Law 37/2004”) emphasises creditors’ rights over debtors and demonstrates that Indonesia can be seen as a creditor-friendly jurisdiction. While there are some limitations on the options that might otherwise be available to distressed companies and some inflexibility, particularly in the tools available to…