APPLICATION FOR BANKRUPTCY IS NULL AND VOID WHEN THE COMPANY IN LIQUIDATION IS A COMPANY IN A CERTAIN FIELD

That PT. Asuransi Prisma Indonesia (in liquidation) is an insurance company because based on the facts of the trial, the intent and purpose of establishing PT. Asuransi Prisma Indonesia is to conduct general insurance and loss reinsurance business, and there is no change so that the filing of a bankruptcy application is subject to special provisions governing insurance companies, namely Article 2 paragraph (5) of Law No. 37 of 2004;

That in accordance with the provisions of Article 149 paragraph (2) of Law no. 40 of 2007, the obligation of a liquidator to submit a bankruptcy application is null and void when a company in liquidation is a company in a certain field that is regulated by laws other than Law no. 40 of 2007. In the a quo case, the Petitioner is an insurance company where the provisions regarding filing a bankruptcy application are specifically regulated, namely Article 2 paragraph (5) of Law No. 37 of 2004;

→ Supreme Court Decision No. 338 K/PDT. SUS/2010 jo. Central Jakarta Commercial Court Decision No. 01/Bankrupt/2010/PN.Niaga.Jkt.Pst, 12 May 2010.

Source:

Supreme Court Decision No. 338 K/PDT. SUS/2010 jo. Central Jakarta Commercial Court Decision No. 01/Pailit/2010/PN.Niaga.Jkt.Pst, dated 12 May 2010, accessed on https://decision3.mahkamahagung.go.id/direktori/decision/da173a65ca3eece12e4e3c0941233ca1.html

Best regards,

Fredrik J. Pinakunary