Permanent Postponement of Debt Payment Obligations as a Restructuring of Problematic Credit/Financing Rescue by Judicial Decision

Abstract

The Postponement of Debt Payment Obligations (PDPO) is regulated by Law No. 37 of 2004 concerning Bankruptcy and Postponement of Debt Payment Obligations. This law is necessary for the interests of the business world in resolving debt issues fairly, quickly, openly, and effectively. The Postponement of Debt Payment Obligations is the right of every Debtor who is unable or anticipates being unable to continue paying their overdue debts and is subject to collection. The Postponement of Debt Payment Obligations is a proposal submitted to the Creditors to postpone payment obligations to obtain the approval of the creditors. Therefore, The Permanent Postponement of Debt Payment Obligations is a restructuring of credit/financing decided by the Commercial Court for a fair resolution of credit/financing. According to John Rawls, fairness is achieved when there is fairness. Justice is also related to the principle of legality, which means that all actions and policies of the state and its officials must be based on the law. Therefore, the Postponement of Debt Payment Obligations must contain legal certainty that is based on legality. Hence, the question arises as to how the law regulates the occurrence of The Permanent Postponement of Debt Payment Obligations as a Credit/Financing Restructuring that provides justice for creditors and debtors. The research method used in this study is a normative method, which is a method to uncover legal issues presented and draw conclusions to provide input on how things should be.