Theimplementation of real estate investment trusts in Indonesia through Bapepam Regulation concerning Real Estate Investment Fund

RACHMAWATI, Deasy Harri, Prof. Dr. M. Hawin, S.H., LLM

2008 | Tesis | S2 Magister Hukum

Appeal for bankruptcy is an alternative form of legal effort to obtain assurance for debt payment, and based on bankrupt verdict by Commercial Court, all assets of the bankrupt debtor will be placed in public confiscation and liquidated to be shared among all the creditors, and since October 10, 2004, all that process must conform to and regulated by Indonesian Bankruptcy Law number 37. Assets liquidation process of the bankrupt debtor which is imposed with guarantee right to be shared among the creditors by curator in the actual practice face difficulties which hampers the whole process. The purpose of this research is to learn the settlement process of the bankrupt debtor’s assets which is imposed with guarantee right by curator, as well as the position and legal efforts that can be taken by the creditors in order to maintain their interests when the bankrupt assets is not sufficient to pay off the whole debt, based on regulations in Indonesian Bankruptcy Law. The conclusion is based on secondary data derived from library research and primary data derived from field research. After the data research has been analyzed, the result is (1) in the bankruptcy process, the bankrupt debtor’s assets which is imposed with guarantee rights based on regulations in Indonesian Guarantee Law is not separated or differentiated, but will be included in bankrupt assets and liquidated as well as shared among the creditors based on Indonesia Bankruptcy Law, and (2) position to be preferred based on regulations in Indonesian Bankruptcy Law for receiving bankrupt assets share causes clash of interests to occur between creditors and curator, and (3) legal efforts that are taken by creditors to maintain their interests based on Indonesian Bankruptcy Law can cause the bankrupt assets value to decrease significantly and the purpose of bankruptcy unattainable.

Kata Kunci : Real estate investment trust,Trust,Mutual fund