Insolvency is often defined as a state of financial crisis of distress where a certain entity (an individual or a company) is unable to meet their financial obligation(s) to its creditor(s). Before declared insolvent, the respective entity will first have to go through a proceeding, which may include making arrangements with creditor(s) to reach an alternative payment arrangement.
As part of the Bankruptcy & Corporate Restructuring team, Senior Partner – Mr Tony Budidjaja and Senior Associate – Mr Narada Kumara highlighted the urgent need of a cross-border insolvency regulation under the Indonesian legal system in the Chambers and Partners Practice Guide on Insolvency Trends and Developments 2019 publication.
The publication highlights the current and developing trends related to insolvency in Indonesia. Please click here to read the web-version of the publication.
The Chambers and Partners Practice Guide provide clients and other respective stakeholders with expert legal commentary on certain practice area within key jurisdictions around the world. The 2019 Insolvency Global Practice Guide offers a guide for legal and non-legal professionals to various legal fields related directly and indirectly to restructuring processes and practices.