Our CEO and Managing Partner has recently written his view on new stand by the Supreme Court on real estate assets in bankruptcy. His opinion was published by The Jakarta post, a daily newspaper, on 21 August 2017.
His opinion explains that despite the legal provisions of bankruptcy law and condominium the more protection to the good faith buyer. This new position may hugely affect the bankruptcy proceeding of a real estate company in the future. Furthermore, this new decision may even result to an amendment of bankruptcy law.
Eddy views the recent change as positive as long as it is subject to certain conditions e.g. the condominium’s construction is completed, the purchase price for the unit is fully paid and the unit has been delivered to the buyer. He also mentions that the condominium unit must be free and clear in order to implement it.
Eddy Leks is quoted as “expert on land and construction law” by The Jakarta Post.
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