The Indonesian bankruptcy law is based on Law No. 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations (the Bankruptcy Law) sets forth the requirements for filing a bankruptcy petition. The essential requirement is that there must be two or more creditors and at least one mature but unpaid debt for a bankruptcy action to be initiated against a debtor. In practice, to meet the essential requirements for bankruptcy filing, debtors/creditors often transfer his receivable(s) by cessie which regulated in Article 613 Indonesian Civil Code which resulting in bankruptcy. To provide legal certainty and legal protection to all parties, the Government and House of Representative should amend the Bankruptcy Law as well as the Indonesian Civil Code in order to correspond with the debtors/creditors benefit and the situation of business in Indonesia recently. This research uses normative juridical research with case approach, conceptual approach and statute approach. The sources of the legal materials using primary data and secondary data by conducting interview and the study of Judgment of Medan Commercial Court Number 09/Pailit/2013/PN Niaga Mdn dated 7 November 2013 , Judgment of South Jakarta Commercial Court Number 09/PDT.SUS-PAILIT/2015/PN.NIAGA.JKT.PST dated 29 June 2015 and Judgment of Supreme Court Number 489 K/Pdt.Sus-Pailit/2015 dated 31 August 2015.