- July 27, 2016
- Posted by: Fasya Frinanda
- Category: News
Rangga Adityawarman, a lawyer for commercial dispute from Suhardi Somomoeljono & Associates represents a company in a complex bankruptcy case in Makassar District Court, Indonesia. Rangga said that bankruptcy procedures that submitted by his applicant has a formality error and the court shall state that the bankruptcy petition is unacceptable.
The argumentation above is based on the fact that his client only has 1 (one) creditor and based on Indonesian Bankruptcy Law it is mandatory to have more than 1 (one) creditor to file a bankruptcy petition and fulfill the formality of a bankruptcy petition under Indonesian Bankruptcy Law. Rangga added that his client still have ability to pay the debts and open for all the debt restructuring procedures to settle the dispute amicably.