The Ideas of a Total Bankruptcy Moratory and Suspension of Debt Payment Obligations in the Emergency of the Covid-19 Pandemic

Abstract

The type of research used in this research is normative legal research. The Bankruptcy Law and PDPO are special laws that cannot be seen from one side/aspect, because many parties are involved in the PDPO -Bankruptcy Law. With the PDPO, many cases have ended peacefully, how many debts have been successfully restructured, how many businesses have finally improved. The moratorium also does not close the efforts of creditors to collect. The PDPO moratorium and bankruptcy do not remove the debtor's obligation to settle his responsibilities. Creditors can take other legal remedies such as civil lawsuits, mortgage execution rights, arbitration, mediation, bilateral restructuring and others outside the PDPO and bankruptcy channels. Likewise, the methods and patterns of restructuring of debtors also develop according to the needs and developments of the times. Business continuity is a priority, considering the increasing economic needs of the community.  All forms of business that are part of the economic wheel must continue to spin, so that in the event of financial difficulties, PDPO is an alternative solution that can be taken by debtors and creditors. In addition to considering the PDPO and bankruptcy moratorium, it would also be better if the government immediately completed the Bankruptcy Bill and PDPO as an improvement from the previous Bankruptcy Law and PDPO.