Leasing is an activity in terms of capital goods apply in order to be used by a person or a company for a certain period, based on periodical payments. Leasing activities began to be recognized in Indonesia since 1974, marked by Multiple Agreement Letter about Leasing Business Permission among Indonesia Minister of Finance, Minister of Industry, and Minister of Trade, Number: Kep 122/MK/IV/2/1974, Number 32/M/SK/2/1974, and Number 30/Kpb/1/74.Leasing activity is growing rapidly in Indonesia. With such kind of situation, we need a legalcertaintyregarding thelegal protection forthe parties inleaseagreement. And also, in conducting its activities, a leasing company will meet various problems, such as bankruptcy, etc. Based on a study on analysis unit in this writing, the author will describe financial lease agreement mechanism, analyze the legal protection for the parties in lease agreement, and analyze the solution for the parties in leasing agreement if a lessor is bankrupt.This study was expecting to be able to contribute critical ideas to be used as a consideration for all parties, whether for public, government, or even praticioners in the effort to face financial lease agreement problems as one of important issues in economic segment and business world.