Penerapan UNCITRAL Model Law on Cross-border Insolvency di Korea Selatan, Singapura, dan Amerika Serikat dan implikasi terhadap penerapannya di Indonesia

Djapri, Andrew Daniel (2024) Penerapan UNCITRAL Model Law on Cross-border Insolvency di Korea Selatan, Singapura, dan Amerika Serikat dan implikasi terhadap penerapannya di Indonesia. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

With the increase in international trade and investment blurring the nationalities of persons and businesses, an increase in the number of bankruptcies in companies with cross-border business operations, assets and liabilities is inevitable. Insolvency that occurs to such companies are considered to be cross-border insolvency due to its international nature, with multiple jurisdictions playing a part in administering the insolvency proceedings. This is not a problem in states such as South Korea , Singapore and the United States of America, who has adopted the UNCITRAL Model Law on Cross-Border Insolvency to administer cross-border insolvencies. The same however cannot be said of Indonesia, who has yet to regulate the matter of cross-border insolvency in any manner, thus not according legal certainty to international business and corporations. The formulation of the problem to be studied is how the the Indonesian Legal System governs cross-border insolvencies and how the UNCITRAL Model Law on Cross-Border Insolvency can be implemented in Indonesia based on lessons of its implementation in South Korea , Singapore and the United States of America. The research method used here is normative, where the legal system in Indonesia, South Korea , Singapore and the United States of America will be used to analyze the problem. In conclusion, the implementation of the UNCITRAL Model Law on Cross-Border Insolvency must be implemented in Indonesia due to the legal vacuum that currently exists in Indonesia regarding Cross-Border Insolvency.

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