| dc.description.abstract | Filing for bankruptcy against an insurance company poses problem where the
Financial Services Authority can only submit becomes a problem when the
application submitted by the creditor does not get a response or approval from
the Financial Services Authority. Another problem arises in the order in which the
bankruptcy estate is distributed to the preferred creditors such as tax payables,
wages owed by workers/labors, and the rights of policyholders. Thus, in this
study, the author wants to know who are the legitimate parties to apply for
bankruptcy of an insurance company if there is no response or approval from the
Financial Services Authority? What is the policyholder's position to other
preferred creditors in an insurance company that is declared bankrupt? This type
of research is normative legal research conducted by examining library or
secondary materials. This study concludes that if the Financial Services Authority
remains silent within thirty days after it receives the complete application, the
application is considered granted. Meanwhile, regarding the position of the
preferred creditors, concerning each of the laws governing this matter, it does not
determine which party has its rights to be paid first, so that the order of
distribution of bankrupt assets is guided by in the Constitutional Court Decision
No. 67/PUU-XI/2013 which decided that wages owed by workers/labors must be
paid first before paying the tax bill and the rights of the policyholder.
Furthermore, the tax bill has a position that precedes the rights of the
policyholder. | en_US |
