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Original Research

RECONSTRUCTION OF CONCURRENT CREDITOR RIGHTS IN BANKRUPTCY LAW AND SUSPENSION OF DEBT PAYMENT OBLIGATIONS IN THE FRAMEWORK OF LEGAL DEVELOPMENT

TIMOTIUS TUMBUR SIMBOLON 1, M.S. TUMANGGOR 2, WIWIK SRI WIDIARTY 3, and BERNARD NAINGGOLAN 4.

Vol 19, No 02 ( 2024 )   |  DOI: 10.5281/zenodo.10683466   |   Author Affiliation: Faculty of Law, Universitas Kristen Indonesia 1,2,3,4.   |   Licensing: CC 4.0   |   Pg no: 388-400   |   Published on: 10-02-2024

Abstract

Debt payment obligation is the principle of justice as stated by Aristoteles, and is one of the important aspects in business transactions. If a debtor fails to fulfill his obligations, legal problem will arise that must be resolved. This research aims to examine and reconstruct the rights of Concurrent Creditors in the Bankruptcy law for the purpose of legal development so as to provide justice to all parties. This research used normative legal research methods. Data collection techniques used in this research are literature studies and law research. The data analysis technique used in this research is qualitative analysis. The results show that the rights of Concurrent Creditors in the Bankruptcy Law need to be reconstructed in the context of the purpose of legal development. The reconstruction of Concurrent Creditors rights can be made by increasing the understanding and awareness of Concurrent Creditors, improving adequate facilities and infrastructure, and strengthening law enforcement with a new paradigm.


Keywords

Reconstruction, Concurrent Creditor, Bankruptcy, and Determinor.