Initiating Comprehensive Verification System in the Settlement of Bankruptcy in Commercial Court

Abstract

Verification system in bankruptcy implements the principle of simple verification as stipulated in Article 8 (4) of Law No. 37 of 2004 on Bankruptcy and Suspension of Debt Payment, namely the petition of bankruptcy declaration which must be granted if there are facts which proves simply that the requirements to be declared bankrupt has been met such as the fact that there are two or more creditors and the fact that the debt has reached the maturity and billable. Simple verification in bankruptcy, on one hand, applies based on aspects of legal certainty, but on the other hand ignores aspect of justice and expediency. Under these conditions, the problem that is going to be studied is how the system of verification of bankruptcy in the future that has to meet the aspect of justice, legal certainty, and expediency.

The method used in this research is normative research using primary legal materials and secondary through conceptual approach, and the legislation approach by analyzing the analytical unexplained prescriptive verification system that can provide justice, legal certainty and expediency by implementing comprehensive verification namely verification system that includes verification of aspects of the debtor's ability to pay the debt, verification to substantive aspect  that there is more than one creditor and the debt that has already matured and could be charged as well as taking into account the aspects of good intention of the debtors.

Key words: Comprehensive Verification, Bankruptcy Settlement, Commercial Court