Legal Protection And Remedies Of The Unverified Creditors In Reconciliation (Case Study Of Pt Garuda Indonesia’s Suspension Of Debt Payment Obligations)
Abstract
This research arises from the issue of Boeing being an unverified creditor in
Garuda Indonesia’s reconciliation agreement of SDPO. As a result, Garuda
Indonesia is completely sidelined and exempted from all Boeing debts. Therefore,
the following issues are examined in this thesis: how is the legal protection for the
unverified creditors in the reconciliation of Suspension of Debt Payment Obligation
that has been ratified by the Commercial Court? Second, how are the legal
remedies for the unverified creditors in the reconciliation of Suspension of Debt
Payment Obligation that has been ratified by the Commercial Court? The research
method used in this paper is normative legal research with a statutory approach
and case-analytical approach, including descriptive-evaluative analysis. The
findings of this study are: First, Boeing as the unverified creditor has lost its legal
protection as stipulated in Garuda Indonesia's homologated reconciliation
agreement. Second, Boeing has options to pursue legal remedies outside the court
once the reconciliation plan reaches homologation – by conducting negotiations
and holding a mediation procedure, by the approval of administrator and all
creditors. Foreign creditors are strongly advised to be fully aware and adhere with
the debtor’s SDPO process to serve creditor’s right and the substance of the
reconciliation agreement should emphasize clear provisions for the legal
protection and remedies of the unverified creditors specifically for the foreign
creditors who intentionally neglect the SDPO process.
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