Filing readiness review
Check applicant authority, debt schedules, supporting documents, debtor domicile, and the requested procedural route.
Filing PKPU (suspension of debt payment obligations) requires a supported petition, a clear creditor picture, and a workable proposal strategy. This guide outlines preparation and court stages for debtors and creditors considering proceedings in Surabaya.
Start by identifying whether the intended applicant is the debtor or a creditor and what statutory basis applies. Assemble corporate documents and authority to act, creditor and debt schedules, contracts, invoices, payment history, security instruments, and current asset and cash-flow information. Reconcile every figure across ledgers and attachments, explain disputed amounts, and retain source records; inconsistent schedules can undermine confidence in both the petition and any later composition.
A debtor should test whether a proposal can be made and supported with realistic assumptions before initiating a process. A creditor should verify its claim and understand notice, verification, and voting steps. PKPU is a court-supervised procedure under Indonesian law, not merely a private moratorium, and creditor approval of a composition is not assured.
A debtor needs a structured process to propose revised payment terms to multiple creditors.
A creditor is evaluating a PKPU application after the debtor has not paid a matured claim.
A company receives an application and must assemble its response and financial records.
The creditor list includes secured, disputed, or contingent claims that need reconciliation.
Management needs to understand statutory stages before deciding whether to file or negotiate.
Law No. 37 of 2004 on Bankruptcy and PKPU governs applications and court supervision. The application is filed in the competent Commercial Court under statutory venue rules; debtor domicile and any special applicant rules must be checked. The court’s process includes appointment of an administrator and supervisory judge as provided by law, followed by notice and creditor-related steps.
Article 225(4) sets temporary PKPU at up to 45 days. The statute also sets rules for continuation and maximum duration, creditor voting on a composition, and court homologation. Because limits and voting calculations depend on the statutory provision, claim classification, attendance, and court orders, counsel should confirm the current text and compute each deadline from the actual record. Rejection or non-confirmation can carry bankruptcy consequences under the statute.
We first check applicant authority, the claimed debts, debtor domicile, supporting records, and the objective of the filing. For a debtor, we review proposal assumptions, liabilities, security, and the operational plan. For a creditor, we examine proof of claim, notice records, and proposed treatment before advising on participation or an application.
If proceeding is chosen, we prepare or review the petition and supporting documents, track court directions, and help organize creditor communications and composition materials. Clients should keep one controlled record set and promptly flag changes in balances or business conditions. Counsel can explain procedural choices, but only the court and creditors perform the statutory decision-making roles.
Check applicant authority, debt schedules, supporting documents, debtor domicile, and the requested procedural route.
Organize the application and exhibits for filing in the competent Commercial Court, subject to eligibility and venue review.
Review payment assumptions, creditor treatment, and supporting financial information for a proposed composition.
Help creditors prepare claim evidence, review notices, and assess proposal and voting materials.
The required record depends on the applicant and circumstances, but commonly includes corporate authority documents, agreements, invoices, debt reconciliation, payment records, creditor information, and supporting financial material. A creditor should also document its own claim and maturity. Counsel must verify current filing requirements and the competent court before submission.
The statute sets procedural limits, including temporary PKPU of up to 45 days under Article 225(4), and rules governing any continuation and overall duration. The actual course depends on court orders, meetings, proposal development, and statutory steps. Those limits are not a prediction of how long a particular matter will take.
The statute provides for creditor applications subject to applicant status, evidence, and procedural requirements; regulated entities may be subject to special rules. Counsel should check the claim, other statutory conditions, and venue. An overdue invoice alone does not establish every requirement for filing.
The consequences depend on the voting record, statutory rules, court review, and any available procedural step. Rejection or failure to obtain confirmation can lead to bankruptcy consequences under the law. Creditors and debtor should document claims and votes carefully and obtain advice on the actual court order.
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