Bankruptcy & Restructuring

SSA Advocates assist by representing creditors or corporate debtors on bankruptcy litigation procedures. We also advise on debt to equity swap, debt to asset swap, debt to quasi-equity swap and other amicable debt restructuring for bankruptcy and insolvency procedures.

In connection with the litigation procedures, we also represent the client before the commercial court and preparing all the mandatory documents such as the bankruptcy petition, response of bankruptcy petition (for corporate debtors), and composition plan along with settlement agreement.

SSA Advocates assist by representing creditors or corporate debtors on bankruptcy litigation procedures. We also advise on debt to equity swap, debt to asset swap, debt to quasi-equity swap and other amicable debt restructuring for bankruptcy and insolvency procedures.

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Bankruptcy & Restructuring

What we do

  • Bankruptcy Petition
  • Suspension of Debt Payment Obligation
  • Auction Procedures
  • Out-of-Court Restructuring
  • Composition Plan & Settlement Agreement
  • Consumer Finance

Bankruptcy & Restructuring Services

Indonesia has a very wide interpretation on loan, we help bank-creditors or other type of creditor to perform bankruptcy petition to commercial court. In order to maintain the liquidity of creditors, bankruptcy petition is the most effective legal action to be performed in Indonesia.

A formal restructuring under Indonesian Bankruptcy Law is called Suspension of Debt Payment Obligation (PKPU). PKPU shall be approved by commercial court and debtors may have 270 days to settle the non-performing loan problems with amicable settlement, provided that the composition plan and settlement agreement is agreed by receiver, creditor, debtor and commercial court.

SSA Advocates advising the auction house, auctioneer, banks, corporate debtors, creditors  and other related party to ensure the procedures of auction such as auction documents, auction announcement, appointment of auctioneer, execution of sold assets and other related matters in compliance with the prevailing laws and regulation as well as the best practice in auction procedures and business.

Out-of-court restructuring is the most creditor-debtor friendly resolution for non-performing loan (NPL) problem in Indonesia. Our firm encourage the clients to settle NPL by performing negotiation or mediation.

The focus for this practice area is to ensure that every provision is applicable and in accordance with prevailing laws and regulation on Indonesian Bankruptcy Law. The incompatibility of composition plan & settlement agreement with the prevailing laws and regulation frequently cause a massive loss for the parties since the mentioned documents above shall be approved by the appointed supervising judge.

SSA Advocates provide transactional services in advising clients on consumer credit directive, corporate loan, secured and unsecured loan structure and agreement. In connection with that, SSA Advocates also provide advising the clients on mortgages, pledges and any other security instruments applicable under prevailing laws and regulation. For litigation, we also provide high quality and experienced lawyers to represent our clients.

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