Indonesia Conference Directory

The drafting and amending process of Indonesian bankruptcy law which was carried out in response to a crisis resulted in the resulting legal politics in favor of the interests of creditors so it caused controversy. Comparison with Thailands bankruptcy law is interesting because it has a legal system and bankruptcy construction that is not much different. This micro comparison study uses a legislative approach and a conceptual approach to review the criteria and requirements for bankruptcy applications. The study found that the fundamental differences in the criteria and requirements for bankruptcy applications between Indonesian and Thailand bankruptcy laws lay in insolvency criteria, minimum debt requirements, discharges, and the absence of specific mechanisms for certain debtors. Except for the minimum debt requirement, the criteria for bankruptcy application in Thailand law are more in line with the basic concept of bankruptcy institutions so that they are expected to be able to maximize their functions in protecting the interests of the parties equally. Insolvency criteria and discharge to honest debtors should be adopted in Indonesian bankruptcy law so that improving the construction of bankruptcy institutions in Indonesia becomes more ideal. Abuse of bankruptcy institutions can be avoided because only insolvent debtors can be bankrupt so that there is no need for a special mechanism to protect certain debtors.