Obstacles in the Execution of BUMN Persero’s Bankrupt Assets in Indonesia

DOI

10.2991/assehr.k.201017.131How to use a DOI?

Keywords

Execution, SOE Assets, Curator, Bankruptcy

Abstract

This paper explains the obstacles in the implementation of BUMN Persero’s execution when bankruptcy occurred in Indonesia. Up to now, no BUMN in the form of Persero has succeeded in carrying out the asset implementation stage by the curator even though it has been declared bankrupt, as in the case of bankruptcy in PT. Kertas Leces (BUMN Persero) in Probolinggo, East Java, Indonesia. This study focuses on curators’ efforts in dealing with obstacles in the asset execution, especially at BUMN, using an empirical juridical approach in the case of PT Kertas Leces (Persero). The results found that some obstacles hinder the execution of the assets of PT. Kertas Leces as one of the BUMNs in Indonesia, even though it is bankrupt. Some of the constraints include differences in interpretation of company assets, lack of harmonization of laws and regulations, length of data collection on assets and assessment teams, low interest in asset buyers, and difficulty in obtaining approval from the Office of State Assets and Auction Services (KPKNL) in the BUMN (Persero) asset auctions.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Rahayu Hartini
AU  - Muhammad Hanif Furqan Aufa Putra
PY  - 2020
DA  - 2020/10/20
TI  - Obstacles in the Execution of BUMN Persero’s Bankrupt Assets in Indonesia
BT  - Proceedings of the International Conference on Community Development (ICCD 2020)
PB  - Atlantis Press
SP  - 591
EP  - 594
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.201017.131
DO  - 10.2991/assehr.k.201017.131
ID  - Hartini2020
ER  -