Asset Selling Under Debt Obligations

2021 ◽  
Author(s):  
Hyun-Soo Ahn ◽  
Derek D. Wang ◽  
Owen Q. Wu

We extend the classical asset-selling problem to include debt repayment obligation, selling capacity constraint, and Markov price evolution. Specifically, we consider the problem of selling a divisible asset that is acquired through debt financing. The amount of asset that can be sold per period may be limited by physical constraints. The seller uses part of the sales revenue to repay the debt. If unable to pay off the debt, the seller must go bankrupt and liquidate the remaining asset. Our analysis reveals that in the presence of debt, the optimal asset-selling policy must take into account two opposing forces: an incentive to sell part of the asset early to secure debt payment and an incentive to delay selling the asset to capture revenue potential under limited liability. We analyze how these two forces, originating from debt financing, will distort the seller’s optimal policy.

1985 ◽  
Vol 18 (2-3) ◽  
pp. 479-483
Author(s):  
Amar K. Parai ◽  
Bidhu B. Mohanty

2018 ◽  
Vol 2 (1) ◽  
pp. 97
Author(s):  
Syafrudin Makmur

Law Number 37 Year 2004 concerning Bankruptcy and Postponement of Debt Payment Obligation (PKPU) is enacted in good faith to protect the rights of creditors who have receivables on the insolvent party, since in general the assets left by the insolvent party is less than the amount of the debt . So that the condition is very potential to cause chaos if the number of creditors more than one, because they each will fight each other to control the assets left behind as compensation for the settlement of receivables, and eventually among the creditors will apply: "who fast/strong he can, and who is slow / weak he bit the finger". With the stipulation of bankruptcy provisions in this law, congruent lenders will no longer fight each other because each will get the compensation of debt repayment proportionally according to the principle of "pari pasu pro rata parte".


2020 ◽  
Vol 3 (2) ◽  
pp. 176
Author(s):  
Wayan Resmini ◽  
Abdul Sakban ◽  
Ni Putu Ade Resmayani

ABSTRAKPemberian pinjaman oleh Kreditur kepada Debitur didasarkan pada  asumsi bahwa  Kreditur percaya bahwa  Debitur dapat mengembalikan utang tepat  pada waktunya. Pelunasan utang oleh Debitur kepada Kreditur tidak selalu  dapat berjalan dengan lancar ada kalanya Debitur tidak membayar utangnya  kepada Kreditur walaupun telah jatuh tempo. Debitur yang tidak mampu melunasi utangnya, maka harta kekayaan Debitur dikemudian hari menjadi jaminan atas utangnya.Pasal 1131 dan Pasal 1132 KUH Perdata telah mengatur secara khusus  mengenai hal utang piutang. Pengabdian pada masyarakat ini dilakukan di kecamatan Mataram Barat, kota Mataram Nusa Tenggara Barat. Karena lokasi ini berada di pusat kota Mataram, maka mobilitas  perekonomian sangat tinggi, oleh karena transaksi  yang berhubungan dengan masalah utang piutang  sangat memungkinkan terjadi. Untuk itu masyarakat perlu diberikan penyuluhan yang berhubungan masalah tersebut. Adapun yang menjadi tujuan dalam kegiatan  ini yaitu sebagai berikut: Untuk mengetahui pengaturan mengenai penundaan kewajiban pembayaran utang terhadap perjanjian sewa menyewa. Untuk mengetahui akibat hukum penundaan kewajiban pembayaran utang terhadap perjanjian sewa menyewa. Metode yang dipergunakan adalah penyuluhan dan tanya jawab. Pengaturan mengenai penundaan kewajiban pembayaran utang terhadap perjanjian sewa menyewa  diatur dalam Pasal 222 ayat (3) UU No. 37 Tahun 2004, Kreditur yang memperkirakan bahwa debitur tidak dapat melanjutkan membayar utang-utangnya yang sudah jatuh tempo dan dapat ditagih, dapat memohon agar kepada debitur diberi penundaan kewajiban pembayaran utang, untuk memungkinkan debitur mengajukan rencana perdamaian yang meliputi tawaran pembayaran sebagian atau seluruh utang kepada Krediturnya.Akibat hukum penundaan kewajiban pembayaran utang terhadap perjanjian sewa menyewa yaitu debitur tidak dapat melakukan tindakan kepengurusan atau memindahkan hak atas sesuatu bagian dari hartanya, jika debitur melanggar, pengurus berhak melakukan segala sesuatu untuk memastikan bahwa harta debitur tidak dirugikan karena tindakan debitur tersebut. Debitur tidak dapat dipaksa membayar utang-utangnya dan semua tindakan eksekusi yang telah dimulai guna mendapatkan pelunasan utang, harus ditangguhkan dan Debitur berhak membayar utangnya kepada semua kreditur bersama-sama menurut imbangan piutang masing-masing. Kata Kunci: Penundaan kewajiban; hutang; sewa menyewa. ABSTRACTA loan is given based on the assumption that the Creditor believes the Debtor can return the debt on time. Debt repayment might not always run smoothly. There are times when the Debtor does not pay his debt even though it is the due date. Debtors who are unable to repay their debts have a risk that their assets will become collateral for their debts in the future. Article 1131 and Article 1132 of the Civil Code have individually regulated the matters of debt payable. The community service is carried out in the sub-district of West Mataram, the city of Mataram, West Nusa Tenggara. Transactions related to debt and debt problems are highly possible here because this location is the center of the city of Mataram, and the mobility of the economy here is immoderate. For this reason, the public needs counseling related to the problem. The objectives of this activity are as follows: To find out the arrangements regarding the postponement of debt payment obligations to the lease agreement and to find out the legal consequences of the postponement of debt payment obligations to the lease agreement. The method used is counseling and group interview. The regulation concerning the postponement of the obligation to pay the debt to the lease agreement is regulated in Article 222 paragraph (3) of Law no. 37 of 2004 states that the Creditor who estimates that the Debtor cannot continue to pay his/her debts which are due and cannot be billed may request a debt obligation delay to enable the Debtor to submit a composition plan which includes offering partial or full payment of the debt to Creditors. Due to the legal delay of debt payment obligations under the lease agreement, the Debtor cannot take management actions or transfer the rights to any part of his/her property. If the Debtor violates, the management has the right to do everything to ensure that the Debtor's assets are not harmed because of the Debtor's actions. Debtors cannot be forced to pay their debts, and all execution actions that have been initiated in order to obtain debt repayment must be deferred, and the Debtor has the right to pay his debts to all creditors together according to their respective accounts. Keywords: Deferred liability; debt; rent.


2015 ◽  
pp. 152-159 ◽  
Author(s):  
T. Leonova

Lending capital, credit and debt financing have been around and used to fuel economic development since the time immemorial. There are innumerable studies by international and Russian scholars that look into the evolution of these notions and lending instruments employed. The collective monograph edited by A. Porokhovsky and published by the MSU in 2014 intends to provide an all-around political and economic as well as applied review of the current debt issues faced by the global economy, national economies of Russia, U.S.A. and countries of the European Union. It uses a variety of academic and methodological postulates that range from the reproduction approach to modern macroeconomic doctrines.


2020 ◽  
Author(s):  
J. Anthony Cookson ◽  
Erik Gilje ◽  
Rawley Heimer

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