Implementation of Integration Principle of Debtor’s Bankruptcy in Sharia Economic Transactions as Legal Means to Solve Debt Problems Fairly, Quickly, Transparently, and Effectively

Abstract

Integration principle in Bankruptcy law system embraced in Law Number 37 of 2007 about Bankruptcy and suspension of debt payment obligation implies that there should be integration of other laws and civil procedural laws related to seizure and control which are known as philosophical basis of bankruptcy law of public seizure (GerechtelijkBeslag) of bankrupt debtor wealth, giving strong basis for the Court of commercial affair (extraordinary court with legal status, power, and capacity to accept, investigate, and make decision related to debtor’s bankruptcy in sharia economic transaction.  Absolute competence of court for religion affair in Islamic personalization causes the court as the one who is responsible of handling the sharia economic dispute, but the court for religion affair does not have legal capacity to manage the bankruptcy petition since legally the settlement method to solve the problem is by proposing bankruptcy petition to the commercial court which manages commercial affair and solving the debt through extraordinary court.

Keywords: Bankruptcy, Integration Principles, Debtor Of Sharia Economic Transaction