KEPAILITAN LINTAS BATAS PERSPEKTIF HUKUM INTERNASIONAL DAN PERBANDINGANNYA DENGAN INSTRUMEN NASIONAL DI BEBERAPA NEGARA
Abstract: Currently
cross-border insolvency is not a new thing since free trade requires loan
agreement with foreign parties. The issues with debtor's assets confiscation in
other countries are the recognition and implementation of the domestic’s court
decision in other countries and vice versa. Based on normative juridical
research, Indonesia, Thailand, and Singapore do not recognize bankruptcy decision
from other states domestic court due to the application of territoriality
principle that debtor's assets in these countries cannot be confiscated by
foreign creditors and the bankruptcy decision by those courts will not be
recognized and implemented in other countries. With cross-border insolvency
bilateral agreements such as between Singapore and Malaysia, the bankruptcy
decision of each country can be recognized and implemented in countries which
enter into agreements. Different to Japan and South Korea which apply the
universality principle so that domestic bankruptcy decision may apply to the
debtor's assets abroad and vice versa.
Penulis: Loura Hardjaloka
Kode Jurnal: jphukumdd151638
