In the process of postponement of debt payment obligations (PKPU), names that are not listed in the list of creditors or receivables are recognized. In other words, receivables are not filed, and the administrator does not verify or match receivables. Therefore, the name is not listed in the peace plan that has been approved by the majority of creditors and ratified by the court through a homologation decision, or a peace ratification decision.

To fulfill the principle of publicity stipulated in Article 226 paragraph (1) of Law 37/2004, the management will announce the PKPU decision and PKPU agenda schedule in the State Gazette of the Republic of Indonesia and two daily newspapers. Therefore, creditors are responsible for registering receivables or bills. However, creditors are often unaware of the announcement, causing them to submit their bills late. Article 278 paragraph (3) of Law 37/2004 gives creditors who are late in filing their bills the opportunity to register their receivables if they have missed the deadline by no later than two days before a verification or matching meeting of creditors’ receivables is held.  However, late registration after homologation has legal consequences.

LEGAL CONSEQUENCES OF CREDITOR RECEIVABLES NOT REGISTERED IN PKPU

Referring to Article 1381 of the Civil Code, an obligation can be nullified due to:

1. Payment;
2. Cash payment offer, followed by storage or entrustment;
3. Renewal of debt;
4. Debt set-off or compensation;
5. Debt commingling;
6. Debt exemption;
7. Destruction of goods that are owed;
8. Cancellation or annulment;
9. The applicability of a condition of cancellation; and
10. Lapse of time.

Thus, non-recording in the list of recognized receivables in the PKPU process is not a reason to remove the right to collect the receivables. However, failure to file a charge in the list of creditors or recognized receivables during the PKPU process has legal consequences to the right to join the PKPU process, among others:

1. Not entitled to vote on the extension of fixed debt payment obligations.

Article 229 paragraph (1) letter a of Law 37/2004 states that only concurrent creditors whose rights are recognized or temporarily recognized can vote on the granting of fixed debt payment obligations and their extensions.

• Not entitled to vote on the peace plan during the PKPU process.

According to Article 281 paragraph (1) letter a of Law 37/2004, only concurrent creditors whose rights are recognized or temporarily recognized have the ability to vote on the peace plan.

REMEDIES OF UNREGISTERED CREDITORS IN HOMOLOGATION

Peace plans in PKPU are used when debtors are unable or expected to be unable to pay debts that are due and collectible; they can apply for a postponement of debt payment obligations, which allows them to pay creditors some or all of the debt.  The peace plan is then ratified by the court after being accepted or approved by the creditors.

Therefore, a peace plan approved by the majority of creditors will be the result of a homologation decision. A ratified peace plan is essentially binding on all creditors, with the exception of the creditors mentioned in Article 281 paragraph (2) of Law 37/2004, according to Article 286 of Law 37/2004. This shows that creditors are still bound by the peace despite the homologation decision. Thus, the homologation decision can be used as a basis to obtain payment to the PKPU debtor, based on Article 287 of Law 37/2004. The reason is as follows:

The homologation decision that has obtained permanent legal force in conjunction with the minutes as referred to in Article 282, for all Creditors that are not disputed by the Debtor, constitutes a basis for rights that can be executed against the Debtor and all persons who have bound themselves as insurers for the peace.

Therefore, if the PKPU debtor does not dispute the creditor, the creditor still has the right to collect the receivables by using the homologation as the basis for obtaining payment for the receivables. In addition, if the debtor does not fulfill the peace terms, as stipulated in Article 291 of Law 37/2004 jo. Article 170 of Law 37/2004, they also have the right to apply for the annulment of the homologation. This is due to the fact that PKPU debtors often also offer payment methods to creditors who are not listed on the list of creditors or whose receivables are recognized. To pay the receivables, the debtor must then remember the homologation decision, and the settlement of the receivables is carried out in accordance with the procedures for settling the PKPU debtor’s obligations stipulated in the peace plan.

Legal Basis:

1. Civil Code;
2. Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations.

Reference:

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