Work

Juridical Analysis of the Bankruptcy of PT Sritex Based on Law Number 37 of 2004 concerning Bankruptcy and Postponement of Debt Payment Obligations.

Year: 2025

Type: article

Abstract: This study examines the bankruptcy of PT Sri Rejeki Isman Tbk (PT Sritex) within the framework of Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations (UU Kepailitan). Employing a normative juridical approach, it analyzes the legal provisions, procedural implementation, and implications of the case. The findings reveal compliance with the statutory criteria for bankruptcy but also expose significant procedural inefficiencies, particularly in asset valuation and the Suspension of Debt Payment Obligations (PKPU) process. The study highlights the need for reforms to streamline court procedures, enhance transparency, and strengthen corporate governance practices. These measures are crucial for improving the effectiveness and equity of Indonesia’s bankruptcy system while safeguarding the rights of creditors and debtors.

Source: West Science Law and Human Rights

DOI: 10.58812/wslhr.v3i02.1828

Authors: Firmansyah Firmansyah, Silvester Magnus Loogman Palit, William Hendrik Reba

Institutions: Universitas Islam Negeri Jurai Siwo Lampung, Cenderawasih University

Language: English

Topic: Corporate Insolvency and Governance

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Peace, justice, and strong institutions

Open Access status: diamond

OpenAlex ID: W4409970779

FWCI:

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