Analisis Perubahan Undang-Undang Investasi Melalui Omnibus Law 2020 dan Dampaknya Terhadap Perijinan Investasi

Hubungan debitur dan kreditur dalam perjanjian utang piutang menimbulkan suatu perjanjian pinjam meminjam uang yang menyebabkan adanya suatu perikatan diantara para pihak. Dengan adanya perikatan maka masing-masing pihak mempunyai hak dan kewajiban. Salah satu kewajiban dari debitor adalah mengembalikan utangnya sebagai suatu prestasi yang harus dilakukan. Perjanjian utang piutang bukanlah menjadi suatu masalah dalam dunia usaha bila antara debitur dan kreditur terdapat konsep pemahaman dalam isi perjanjian dan debitur tetap mampu untuk melakukan pembayaran utang. Permasalahan baru timbul apabila debitur tidak cukup efisien dalam menjalankan roda perusahaan dikarenakan krisis financial dan mengalami kebangkrutan atau yang disebut dengan pailit. Oleh karena itu, bagaimana persamaan dan perbedaan perdamaian menurut Undang-Undang Kepailitan dengan Reorganization Plan menurut Chapter 11 United State Bankruptcy code serta Penerapan Reorganization Plan berdasarkan Chapter 11 United State Bankruptcy menjadi rumusan dalam penelitian ini. Berdasarkan pendapat dari Lawrence terdapat tiga komponen yang menjadi dasar perbedaan hukum antara lain; sistem hukum, subtansi hukum, budaya hukum. Adapun metode penelitian yang digunakan dalam penelitian dengan pendekatan perundang-undangan. Pendekatan ini dilakukan dengan menelah semua peraturan perundang-undangan yang berkaitan dengan isu hukum yang akan diteliti. penelitian ini menggunakan data sekunder dengan mengumpulkan data-data berupa peraturan hukum kepailitan dan Chapter 11 serta Chapter 7. Setelah itu, penulis melakukan analisis data. Sehingga menemukan hasil yaitu; terdapat perbedaan sistem hukum Indonesia Undang-Undang Nomor 37 Tahun 2004 tentang Kepailian dan penundaan Kewajiban Pembayran Utang berbeda dengan Chapter 11 Reorganization Plan US Bankrupty Code. Persamann dan perbedaan didasarkan pada adanya sistem hukum yang berbeda Chapter yang menjelaskan tentang Reorganisasi Plan yang pada umumnya disebut sebagai reorganisasi kedua negara menentukan pihak ketiga yang ikut menyelesaikan permasalah yaitu Amerika disebut dengan Trustee dan Indonesia disebut dengan kurator. Penerapan reorganisasi Plan di Amerika Serikat Dalam Chapter 11 yang menjelaskan tentang Reorganisasi Plan yang pada umumnya perusahan yang mengalami kesulitan keuangan memberikan suatu petisi (Petition), (Protection), (Proceeding) yang menjadi tahap-tahap pengajuan permohonan, perlindungan hukum diberikan terhadap pihak yang harus menerimanya serta proses dan ketentuan yang berlaku bagi kreditor dan debitor dalam menyelesaiakan permasalahan utang

Company Controller's Role as One Way to Rescue Companies under Jordanian's Insolvency Act 2018 "Comparative Study"

The main objective of this article is to shed light on the new emergence on the Jordanian insolvency Act no. 21 of 2018, after it became independent from the commercial law, specifically the role of the companies general controller through the application of the provisions of this law to rescue company as much as possible from stopping running its business activates and then its insolvency. In this article, the Jordanian law was compared with English law in order to compel Jordanian legislator to benefit from other legislation, given that the Jordanian law is still recent. This article dealt with the issue of corporate rescue and the role of the company controller in starting company insolvency procedures, in accordance with the provisions of the Jordanian Insolvency Act 2018; with refer to the provisions of the UNCITRAL Insolvency Legislative Guide 2004. This article concluded that Jordanian legislator must develop a rescue culture by putting in place protection for insolvent companies, such as a moratorium and expanding the means of rescue, rather than limiting the rescue culture to the reorganization plan that is adopted by the UNCITRAL Legislative Guide of Insolvency 2004. In addition, Jordanian legislators must make some legal amendments that are in line with recommendations made by legal authorities within the framework of the company controller role in the Jordanian Insolvency Act 2018.

Anwendbares Recht und Anerkennung bei gesellschaftsrechtlichen Maßnahmen in Sanierungsplanverfahren

The study examines classification and recognition issues that arise in the scope of application of the European Insolvency Regulation if corporate measures are implemented by way of a restructuring plan in deviation from company law requirements. The study analyzes German, English, French and Italian restructuring plan proceedings. It also takes a closer look at the interaction of corporate and insolvency law provisions during the restructuring of foreign companies in reorganization plan proceedings. The author practises as a lawyer in the field of restructuring.

Initiating the reorganization procedure according to the law on bankruptcy: Reorganization vs. prepackaged reorganization plan

This paper discusses the initiation of the reorganization procedure by comparing the initiation of the "classic" type of reorganization and the initiation of the reorganization in accordance with the prepackaged reorganization plan. The analysis of the initiation of these two types of reorganization will be conducted based on an overview of the three elements most important for the initiation of the reorganization procedure within one legal system; namely, when the reorganization procedure is initiated, who is authorized to initiate this procedure and what the mandatory content of the reorganization plan is. The way in which these three elements are arranged can significantly affect the quality of the reorganization plan and its successful implementation. The aim of this paper is to analyze the initiation of two types of reorganization in the Serbian Law on Bankruptcy by comparing these three elements, as well as to point out some controversial issues that arise when initiating these two proceedings.

FINANCIAL SITUATION OF PRE-PACKED INSOLVENCIES

This paper is focused on the financial situation of companies entering insolvency proceedings. It does not work with all kinds of the insolvent companies, but this paper concentrates on one specific issue. The issue is pre-pack insolvencies. The main aim is to show if the financial situation is an important factor for consent to pre-pack. The pre-pack insolvencies are insolvency cases which start with an insolvency proposal which is accompanied by a reorganization plan already approved by creditors. Prepacks should help make the insolvency process quicker and enable enterprise financial rehabilitation and sustain the going concern principle. On the other hand, the procedure can hardly be successful when the financial situation of the company is extremely poor. Therefore this paper evaluates the financial situation of the companies with pre-packed insolvency in the Czech Republic. The analysis of companies was conducted over one, two or three year periods prior to the companies entering an insolvency proceeding. According to the literature, financial indicators used for evaluation are commonly EBITDA, cash liquidity, debt ratio, ROA and the Altman Z-Score prediction model. Results for the individual enterprises are summed up in this paper using basic descriptive and variable statistics. Conclusions have especially practical implications because they show financial inability of majority pre-packed cases.