Currently, in line with the increasing confidence toward PKPU institutions, business communities in Indonesia tend to use Debt Payment Liability Suspension (Penundaan Kewajiban Pembayaran Utang (PKPU)) and bankruptcy process in resolving their payable-receivable issues. This is because, through the PKPU process, the litigation parties are given the option to negotiate or restructure all their debts.
Nationally, as quoted from the Commercial Court Case Tracking System or Sistem Informasi Penelusuran Perkara Pengadilan Niaga (SIPP-PN), the number of PKPU and bankruptcy cases registered in SIPP-PN is increasing by 36.5% from 411 cases in 2018 to 561 cases in 2019, consisting of 437 PKPU cases and 124 bankruptcy cases. In detail, the number of PKPU cases is increasing by 47.14% to 437 cases in 2019, from 297 cases in 2018 to. Meanwhile, the number of bankruptcy cases is declining by 0.08%, from 114 cases in 2018 to become 124 cases in 2019.
Based on the region, 62% of the total cases are registered in SIPP-PN Jakarta Pusat, which handles cases for areas of Banten, DKI Jakarta, West Java, and surrounding areas. These are the most productive regions. Meanwhile, the other cases are registered in SIPP-PN Surabaya (19%), PN Semarang (10%), PN Medan (7%), and PN Makassar (2%).
From the total cases, there are 254 “company with company” cases, 257 “company with person” cases, and 50 “person with person” cases.
In this year 2020, there are already 91 cases registered in SIPP-PN per February 27, 2020, consisting of 77 PKPU cases and 14 bankruptcy cases. From the total number, 44 cases are “company with a company”, 43 cases are “company with a person”, and 4 cases are “person with person”.
Based on the business lines, the PKPU and bankruptcy cases mainly come several business lines, namely 24% from the Manufacturing Sector, 23% from the Real Estate Activities, 16% from the Mining and Quarrying Sector, and 11% from Construction Sector.
Meanwhile, related to increasing number of corporations registered for the PKPU cases, The Work Group Team Leader (Ketua Tim Kelompok Kerja (Pokja)) said that revision to the Law No. 37 the Year 2004 on Bankruptcy and Debt Payment Liability Suspension (PKPU) is quite urgent for business communities in the country. This is also to anticipate the possible economic recession since a number of debts will start to reach maturity date in 2020.
Therefore, the business people are expected to be more careful and well-considered to ensure that their business will run well in 2020. They have to be sure that they or their business partner will not have the potential to experience these cases.