Companies in Indonesia pursue corporate restructuring for various reasons, including changing business nature, management restructuring, and financial issues.
In Indonesia, corporate restructuring is governed by Law No. 37 of 2004 on Bankruptcy and Suspension of Debt Payment Obligation (“Bankruptcy Law”). This law allows debtors or creditors to petition the Commercial Court for bankruptcy or suspension of debt payment obligations (Penundaan Kewajiban Pembayaran Utang or “PKPU”).
Be sure to read this #BILLawFact, where we discuss corporate restructuring in Indonesia.
