Jakarta, November 2023. Our Managing Partner of Leks&Co wrote an article titled “Creditor’s bankruptcy application: disputed conditional debt” as published in Lexology.com
The article discusses the intricacies of bankruptcy law in Indonesia, focusing on the evidentiary process for bankruptcy or restructuring applications. Emphasizing a non-insolvency test, the law prioritizes the due and payable status of debts over the solvency of the debtor. Key elements in the evidentiary process include creditors, debtors, debts, due and payable debts, and simplicity. The definition of debt is broad, encompassing conditional obligations and those with agreed time frames. Disputed conditional debts, especially in cases involving construction agreements, may lead to challenges in proving due and payable status, requiring careful attention to agreed time frames and unconditional evidence. The article highlights the importance of simplicity in proving claims and the potential pitfalls of presenting unclear evidence in the face of a counter argument.
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