The Price of Non-Conformity - Law - magz.tempo.co

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The Price of Non-Conformity

Tuesday, December 25, 2001

The Indonesian insolvency judicature has not provided a solution to credit jams. Debt settlement outside the courts is also minimal. What kind of solution is needed?

. tempo : 173166272289.

Indonesia's commercial court, which operates under the Central Jakarta District Court, was formed hastily. The result? It lacks effectiveness. Operating for over three years, the commercial court was brought into effect on September 1, 1998, to enforce Law No.4 of 1998 on Bankruptcy.

Acting in response to an escalating economic crisis and under pressure from the International Monetary Fund, the Indonesian House of Representatives (DPR) enacted th

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