Journal articles on the topic 'Bankruptcy'
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1
CARLOS, ANN M., EDWARD KOSACK, and LUIS CASTRO PENARRIETA. "Bankruptcy, Discharge, and the Emergence of Debtor Rights in Eighteenth-Century England." Enterprise & Society 20, no. 2 (October 16, 2018): 475–506. http://dx.doi.org/10.1017/eso.2018.69.
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Bankruptcy is a precise legal process defining, ex ante,the rules for allocation of assets when debtors fail to repay their legally constituted debts. Ultimately, these rules determine willingness to lend and to borrow, and thus economic growth. In 1706, Parliament in England passed a bankruptcy statute that allowed, for the first time, bankrupts to exit the state of bankruptcy prior to full repayment of all debts. This represented a fundamental change in English bankruptcy rules: creditors could now choose to discharge a bankrupt. Obviously, bankrupts benefitted from such a discharge, but creditors could also benefit from greater asset revelation. We document that discharge was quickly adopted, and estimate that many bankrupts received a second chance in business.
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Syed Nor, Sharifah Heryati, Shafinar Ismail, and Bee Wah Yap. "Personal bankruptcy prediction using decision tree model." Journal of Economics, Finance and Administrative Science 24, no. 47 (April 29, 2019): 157–70. http://dx.doi.org/10.1108/jefas-08-2018-0076.
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Purpose Personal bankruptcy is on the rise in Malaysia. The Insolvency Department of Malaysia reported that personal bankruptcy has increased since 2007, and the total accumulated personal bankruptcy cases stood at 131,282 in 2014. This is indeed an alarming issue because the increasing number of personal bankruptcy cases will have a negative impact on the Malaysian economy, as well as on the society. From the aspect of individual’s personal economy, bankruptcy minimizes their chances of securing a job. Apart from that, their account will be frozen, lost control on their assets and properties and not allowed to start any business nor be a part of any company’s management. Bankrupts also will be denied from any loan application, restricted from travelling overseas and cannot act as a guarantor. This paper aims to investigate this problem by developing the personal bankruptcy prediction model using the decision tree technique. Design/methodology/approach In this paper, bankrupt is defined as terminated members who failed to settle their loans. The sample comprised of 24,546 cases with 17 per cent settled cases and 83 per cent terminated cases. The data included a dependent variable, i.e. bankruptcy status (Y = 1(bankrupt), Y = 0 (non-bankrupt)) and 12 predictors. SAS Enterprise Miner 14.1 software was used to develop the decision tree model. Findings Upon completion, this study succeeds to come out with the profiles of bankrupts, reliable personal bankruptcy scoring model and significant variables of personal bankruptcy. Practical implications This decision tree model is possible for patent and income generation. Financial institutions are able to use this model for potential borrowers to predict their tendency toward personal bankruptcy. Social implications Create awareness to society on significant variables of personal bankruptcy so that they can avoid being a bankrupt. Originality/value This decision tree model is able to facilitate and assist financial institutions in evaluating and assessing their potential borrower. It helps to identify potential defaulting borrowers. It also can assist financial institutions in implementing the right strategies to avoid defaulting borrowers.
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Rizqy Fajrian, Muhammad, and Adi Sulistiyono. "Tinjauan Yuridis Pailitnya PT. Merpati Nusantara Airlines Persero Akibat Kelalaian Terhadap Perjanjian Damai." PLEDOI (Jurnal Hukum dan Keadilan) 2, no. 2 (September 30, 2023): 171–79. http://dx.doi.org/10.56721/pledoi.v2i2.239.
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Law No. 37/2004 on Bankruptcy and PKPU has regulated the bankruptcy and PKPU process for SOEs, where the Ministry of Finance is authorized to file bankruptcy applications. The problem that the author wants to raise regarding the differences in the bankruptcy of BUMN Persero, in this discussion is the bankruptcy case of PT Merpati Nusantara Airlines (PT MNA). Based on the explanation of the Bankruptcy and PKPU Law article 2 paragraph (5), it is stated that BUMNs that can be bankrupted by the minister of finance are BUMNs whose capital is not divided into shares or BUMN Perum, while in practice at the trial the bankruptcy of PT MNA was canceled on the grounds that the BUMN (Persero) could only be bankrupted by the Minister of Finance. Whereas BUMN Persero is subject to the Limited Liability Company Law and is also subject to the Limited Liability Company Law, this is because the arrangements regarding the bankruptcy of BUMN are still overlapping, resulting in inconsistencies in the decisions of judges in examining and deciding BUMN bankruptcy cases. The writing of this article uses normative legal research, using primary legal sources, namely the Bankruptcy Law, Limited Liability Company Law and BUMN Law. The data collection technique in this research is a literature study, namely collecting primary legal materials by tracing laws and regulations related to the position of bankrupt BUMN Persero. Furthermore, secondary legal materials are obtained by collecting books, scientific papers, and journals relevant to the author's research. Using deductive pattern as an analysis method by connecting major and minor premises. The result of this research is that PT MNA, even though it is a Persero SOE and its shares are 100% owned by the government, can still be bankrupted by anyone other than the minister of finance as long as it meets the bankruptcy requirements and the bankruptcy decision of PT MNA which is in accordance with the Bankruptcy and PKPU Law is based on 2 articles of the PKPU Law, namely Article 170 paragraph (1) and Article 291 paragraph (2).
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Dickfos, Jennifer, Catherine Brown, and Jason Bettles. "Superannuation and Bankruptcy: Is there a Mid-Life Crisis Looming?" QUT Law Review 17, no. 1 (October 13, 2017): 114. http://dx.doi.org/10.5204/qutlr.v17i1.708.
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Research suggests that Australian bankrupts are increasingly older, have professional backgrounds and generally enjoy higher levels of income than has previously been the case. Significantly, available data also indicates that the numbers of persons entering into bankruptcy hold greater levels of real property, and associated mortgage debt, than in previous decades. Given these trends, the importance of protecting superannuation funds becomes paramount to a bankrupt. However, this paper argues that there is a need to balance the protected asset status of superannuation funds with other objectives, such as achieving a fair distribution of the bankrupt’s assets among creditors. This paper examines the extent to which this balance is achieved, particularly in the context of self-managed superannuation funds.
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Lukason, Oliver, and Kaspar Käsper. "Failure prediction of government funded start-up firms." Investment Management and Financial Innovations 14, no. 2 (August 7, 2017): 296–306. http://dx.doi.org/10.21511/imfi.14(2-2).2017.01.
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This study aims to create a prediction model that would forecast the bankruptcy of government funded start-up firms (GFSUs). Also, the financial development patterns of GFSUs are outlined. The dataset consists of 417 Estonian GFSUs, of which 75 have bankrupted before becoming five years old and 312 have survived for five years. Six financial ratios have been calculated for one (t+1) and two (t+2) years after firms have become active. Weighted logistic regression analysis is applied to create the bankruptcy prediction models and consecutive factor and cluster analyses are applied to outline the financial patterns. Bankruptcy prediction models obtain average classification accuracies, namely 63.8% for t+1 and 67.8% for t+2. The bankrupt firms are distinguished with a higher accuracy than the survived firms, with liquidity and equity ratios being the useful predictors of bankruptcy. Five financial patterns are detected for GFSUs, but bankrupt GFSUs do not follow any distinct patterns that would be characteristic only to them.
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Pratama, Gede Aditya, Nina Zainab, and Heru Siswanto. "LEGAL REMEDIES AGAINST BANKRUPTCY DECISION FOLLOWING CONSTITUTIONAL COURT DECISION NO. 23/PUU-XIX/2021." Jurnal Bina Mulia Hukum 7, no. 2 (March 31, 2023): 216–30. http://dx.doi.org/10.23920/jbmh.v7i2.1060.
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Bankruptcy is a legal institution created as a way out of debt problems that befall debtors. The bankruptcy mechanism consists of the Postponement of Debt Payment Obligations (Penundaan Kewajiban Pembayaran Utang/PKPU) and bankruptcy itself. These two mechanisms have different legal consequences, especially regarding the available legal remedies, which differ between bankruptcy rulings originating from PKPU applications and those originating from bankruptcy applications. The available legal remedies also differ between bankruptcy rulings originating from applications submitted by debtors and those submitted by creditors. Constitutional Court Decision No. 23/PUU-XIX/2021 has changed the legal remedies provisions in Law No. 37 of 2004 concerning Bankruptcy and Postponement of Debt Payment Obligations. Prior to the Constitutional Court's decision, there was no opportunity for debtors to file legal remedies against a bankruptcy ruling caused by the rejection of a peace agreement due to the failure to reach an agreement in the PKPU process. However, after the issuance of Constitutional Court Decision No. 23/PUU-XIX/2021, this has changed with the opening of the opportunity for legal remedies in the form of cassation against a bankruptcy ruling due to the rejection of a peace agreement because an agreement was not reached in the PKPU process. It is important to avoid the PKPU process being used as a means to bankrupt debtors who are still solvent but are bankrupted because there are interests of business competition involved.
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Kopczyński, Paweł. "Bankruptcy risk assessment of Polish listed companies using Asian multiple discriminant analysis models." Zeszyty Teoretyczne Rachunkowości 46, no. 2 (June 28, 2022): 69–96. http://dx.doi.org/10.5604/01.3001.0015.8810.
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Purpose: The main purpose of this article is to evaluate whether multiple discriminant analysis models developed in Malaysia to forecast the bankruptcy of Malaysian indus-trial companies and Singaporean companies can be useful in assessing the risk of bank-ruptcy of Polish listed companies. Methodology/approach: To test the efficacy of these discriminant models, the finan-cial statements of 25 bankrupt Polish companies and 25 viable companies were used. The accuracy of the classification of these enterprises into two groups (potential bank-ruptcy and companies able to survive on the market) was analyzed using the models developed to forecast the bankruptcy of Malaysian and Singaporean companies. Z-scores for each model were calculated for one year, two years, and three years prior to bankruptcy. Findings: The model developed to forecast the bankruptcy of Malaysian industrial companies correctly classified bankrupted Polish listed companies. However, it incor-rectly classified a large percentage of non-bankrupt companies. The Singaporean model accurately (it was 100% when data from one year prior to bankruptcy was used) assessed the risk of bankruptcy of failed companies. The percentage of correctly classified companies still in business was lower, but still acceptable. Research limitations/implications: It is recommended to test the classification abili-ties of the models using the financial data of Polish companies from various sectors of the economy (separately for selected industries), and in particular, utilizing financial reports of industrial companies. Originality/value: The Polish-language literature often describes bankruptcy forecast-ing methods developed in highly developed countries, such as the USA, Canada, Germany and Great Britain. Polish scientists have also developed many bankruptcy forecasting tools. By contrast, little attention has been paid to Asian bankruptcy forecasting methods. The study, the results of which are presented in this article, broadens the knowledge on this subject and makes it possible to test and evaluate the usefulness of such methods for Polish companies.
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Kareva, Tatiana, and Vadim Sonin. "The problems of cross-border personal bankruptcy in russian and chinese legislation and practice." Law Enforcement Review 1, no. 3 (October 3, 2017): 160–67. http://dx.doi.org/10.24147/2542-1514.2017.1(3).160-167.
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The subject of the article is the legal and practical problems of cross-border personal bankruptcyin Russia and China.The main goal of this work is to analyze the major issues and obstacles in recognition andenforcement of Russian individual bankruptcy decisions in China and introduce it to Russianscholars and legal professionals.The methodological basis is analysis of the Russian and Chinese legislation, judicial practiceand special literatureThe results, scope of application. This article discusses the possibility of applying the provisionsof the Federal Law On Insolvency (Bankruptcy) to the Chinese nationals registered asindividual entrepreneurs in Russia. The article also reviews the Chinese legal regulation andoffers recommendations on execution of the court judgments on bankruptcy and collectionof debts from the PRC nationals. Existing Russian legislation allows to recognize the foreignnationals as bankrupts. The provisions on the cross-border insolvency also apply to them.The bankruptcy in China is not applied currently to the individuals, although theoretically itmay affect their property sphere during the bankruptcy of an individual private enterprise.Conclusions. The cross-border insolvency of the Chinese nationals encounters obstacles on threelevels. Firstly, the awards of the Russian arbitration courts have not been practically enforced inPRC due to inadequate notification of the Chinese party in the case. Secondly, Chinese courts inprinciple are extremely reluctant in recognizing foreign judgments on bankruptcy, such cases areexceptional. Thirdly, there is no personal bankruptcy institution in the PRC, while similar procedureslike bankruptcy of individual private enterprises are not applied in reality, and there are nolegislative prospects for the personal bankruptcy in the nearest future. Therefore, when conductingthe bankruptcy procedure for the Chinese nationals on the Russian territory, one can onlycount on their property located on this side of the border.
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Inayati, Raisa. "TUGAS, WEWENANG DAN TANGGUNG JAWAB BALAI HARTA PENINGGALAN DALAM PEMBERESAN HARTA PAILIT." JURNAL MEDIA HUKUM DAN PERADILAN 4, no. 2 (October 30, 2018): 166–82. http://dx.doi.org/10.29062/jmhp.v4i2.11.
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Bankruptcy will essentially change the competent status of the relevant legal subject of the debtor in the management of the bankruptcy property, then in the process must follow certain terms and procedures so declared bankrupt based on a judge's decision. Due to the verdict of bankruptcy statement against the debtor will become a foothold of the next problem that is about how the creditors get their rights from the debtor bankruptcy and who will take care of the division of bankrupt debtors. Against this statement, Article 70 of Law Number 37 Year 2004 concerning Bankruptcy and Suspension of Obligation for Payment of Debts stipulates that the entitled to do belongs to The Orphans Chamber or other Curators. Closing up bankruptcy belongs to the end of the bankruptcy process. In this writing can be known about the main role in the management and ordering of bankrupt property carried out by the Curators / The Orphans Chamber.
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INAYATI, RAISA. "TUGAS, WEWENANG DAN TANGGUNG JAWAB BALAI HARTA PENINGGALAN DALAM PEMBERESAN HARTA PAILIT." Notaire 1, no. 2 (April 9, 2019): 339. http://dx.doi.org/10.20473/ntr.v1i2.9283.
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Bankruptcy will essentially change the competent status of the relevant legal subject of the debtor in the management of the bankruptcy property, then in the process must follow certain terms and procedures so declared bankrupt based on a judge's decision. Due to the verdict of bankruptcy statement against the debtor will become a foothold of the next problem that is about how the creditors get their rights from the debtor bankruptcy and who will take care of the division of bankrupt debtors. Against this statement, Article 70 of Law Number 37 Year 2004 concerning Bankruptcy and Suspension of Obligation for Payment of Debts stipulates that the entitled to do belongs to The Orphans Chamber or other Curators. Closing up bankruptcy belongs to the end of the bankruptcy process. In this writing can be known about the main role in the management and ordering of bankrupt property carried out by the Curators / The Orphans Chamber
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Inayati, Raisa. "TUGAS, WEWENANG DAN TANGGUNG JAWAB BALAI HARTA PENINGGALAN DALAM PEMBERESAN HARTA PAILIT." E-Jurnal SPIRIT PRO PATRIA 5, no. 1 (March 30, 2019): 56–70. http://dx.doi.org/10.29138/spirit.v5i1.908.
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Bankruptcy will essentially change the competent status of the relevant legal subject of the debtor in the management of the bankruptcy property, then in the process must follow certain terms and procedures so declared bankrupt based on a judge's decision. Due to the verdict of bankruptcy statement against the debtor will become a foothold of the next problem that is about how the creditors get their rights from the debtor bankruptcy and who will take care of the division of bankrupt debtors. Against this statement, Article 70 of Law Number 37 Year 2004 concerning Bankruptcy and Suspension of Obligation for Payment of Debts stipulates that the entitled to do belongs to The Orphans Chamber or other Curators. Closing up bankruptcy belongs to the end of the bankruptcy process. In this writing can be known about the main role in the management and ordering of bankrupt property carried out by the Curators / The Orphans Chamber.
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Sulistyowati, Retno. "The Position of Legal Protection for Debtors for Bankruptcy Conducted by Separatist Creditors in terms of Act No. 4 of 1996 concerning Mortgage Rights." Sultan Agung Notary Law Review 2, no. 4 (December 30, 2020): 450. http://dx.doi.org/10.30659/sanlar.2.4.450-458.
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The purpose of this research is to know and analyze; 1). The current implementation of debtor legal protection for bankruptcy is carried out by separatist creditors. 2) Factors that influence the implementation of debtor's legal protection for bankruptcy carried out by separatist creditors. 3) The proper implementation of debtor legal protection for bankruptcy by separatist creditors. This study uses a normative juridical research method, using a statutory approach and a conceptual approach. This type of research is descriptive analytical. The data collection technique is the literature study of this thesis. The data analysis method is descriptive qualitative analytical. The results show that: 1. The implementation of the Bankruptcy Law has not provided protection to debtors, because: The requirements for requesting a bankruptcy statement make it easier for the debtor to be declared bankrupt, even though the debtor is actually in a solvent condition; The PKPU mechanism has not provided broad opportunities for debtors to improve company performance; and Efforts in bankruptcy are dominated by the authority of creditors. 2. Factors that influence the implementation of debtor's legal protection against bankruptcy carried out by separative creditors are: There are no funds for the costs of managing and settling bankruptcy assets; Bankrupt Debtor is not cooperative; and The debtor sells/transfers his assets before being declared bankrupt. 3. The Bankruptcy Law in future requires an insolvency test. This is based on reasons to prevent debtors whose assets are more than their debts being declared bankrupt by the court.
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Mbila, Augustus Mutemi. "From Debtor Repression to Protection: Giving Debtors a Fresh Start under the Kenyan Insolvency Regime." Eastern Africa Law Review 49, no. 1 (June 30, 2022): 92–121. http://dx.doi.org/10.56279/ealr.v49i1.3.
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Anchored on the normative foundations of the fresh start policy, this article examines the treatment of bankrupts under Kenya’s repealed Bankruptcy Act, Cap 53 Laws of Kenya and then traces the elements of the fresh start policy under the Insolvency Act of 2015 repealed Cap 53. Results show that Cap 53 was repressive against the bankrupt and he was never given a second chance in his economic and social life for the benefit of his creditors. Results also show that under the Insolvency Act of 2015, the bankrupt has a second chance to run his businesses as a going concern and can therefore pay his creditors from the proceeds of those businesses. The paper concludes that the Insolvency Act of 2015 breathes fresh life to the bankrupt and inspires optimism in creditors that their debts stand a better chance to be paid than was the the case under the repealed Act. Key Words: Bankruptcy Law; Repression; Protection; Fresh Start; rehabilitation; discharged debtor, Kenya.
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Ariyanto, Ariyanto. "Akibat Hukum Pemegang Hak Tanggungan Yang Tidak Mendaftarkan Sebagai Kreditor Dalam Kepailitan." Jurnal Hukum Ius Quia Iustum 29, no. 2 (May 1, 2022): 305–23. http://dx.doi.org/10.20885/iustum.vol29.iss2.art4.
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This study focuses on the dualism of security law and bankruptcy law. The purpose of this study is to identify and analyze two issues: first, the legal consequences for mortgage holders who are not registered as creditors as well as the 60-days expiration of self-execution in bankruptcy; and second,legal protection for mortgage holders who are not registered as creditors following the expiration period for self-execution in bankruptcy. This is a normative legal research with a statutory, conceptual and case approaches. The results of the study conclude: first, the legal consequences for the mortgage holders not registered as a creditor resulting in the mortgage holder being unable to collectthe debtor's obligations as they have been declared bankrupt and insolvent; Second, the object of collateral that cannot be sold through a public auction at the request of the curator must be submitted by the mortgage holder to the curator and becomes the debtor's bankrupted asset (boedel).
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Bachtiar, Reza Fahlevi, and Umar Ma'ruf. "Due To Legal Marriage Without Married Agreement Relating To The Existence Of Bankruptcy." Jurnal Akta 5, no. 2 (May 16, 2018): 403. http://dx.doi.org/10.30659/akta.v5i2.3094.
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The problems that will be answered in this study are grouped into two, about how the legal consequences of marriage, held without mating agreement with the bankruptcy, and how the legal standing of the assets of the debtor spouse to mate without mating agreement after bankruptcy. The method used in this research is the empirical jurisdiction. The legal consequences of marriage, held without mating with their bankruptcy agreement is legally valid as the bankruptcy of the husband or wife of the bankrupt debtor. The separation between the property along with a personal wealth does not necessarily separate due to the bankruptcy imposed on married couples who enter into marriage without mating agreement as well as the marriage held by mating or separation agreement treasure. The legal position of property the debtor spouse into marriage without the agreement having been declared bankruptcy mating separated into two parts, namely the unity property and personal possessions. Husband or wife treasure the bankruptcy debtor entered into treasure union declared legally bankrupt as a result of participating bankruptcy imposed against the partner.Keywords: Effects; Marriage; Marriage Agreement; Bankruptcy.
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Aulia Raihan and Selamat Widodo. "ANALYSIS OF DISMISSAL OF BANKRUPT NOTARY POSITIONS BASED ON NOTARY OFFICE LAW AND BANKRUPTCY LAW." JOURNAL EQUITABLE 9, no. 1 (February 28, 2024): 18–37. http://dx.doi.org/10.37859/jeq.v9i1.6377.
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Many people believe that it cannot be justified to dismiss a Notary dishonorably just for reasons of bankruptcy, as determined by the Court. If we look closely of Article 12 letter a of the Law on the Position of Notaries, it turns out that the meaning of this article is unclear. It is not clear whether the Notary was bankrupted in his personal capacity as an individual (natuurlijk person) or in his official function as a public official. The issues that will be discussed are the procedures for terminating the position of a bankrupt notary and whether the dismissal of the notary's position is in accordance with the principles of justice. The research methodology used is normative juridical research. The findings of this research indicate that a Notary who is declared bankrupt can be temporarily dismissed from his position as intended in Article 9 paragraph (1) letter a. Furthermore, if the bankruptcy statement has permanent legal force, the Notary can be permanently dismissed from his position by the Minister, on the recommendation of the Supervisory Board of the Central Supervisory Board, as intended in Article 12 letter a of Law Number 2 of 2014 concerning the Position of Notaries. The Bankruptcy Law does not explicitly regulate the role of Notaries. However, it can be concluded that persons subject to the regulations outlined in the Bankruptcy Law are limited to legal incompetence and are not permitted to exercise control over their assets.
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Chertoroev, Dmitriy Aleksandrovich. "Issues of premeditated bankruptcy in enforcement proceedings." Current Issues of the State and Law, no. 11 (2019): 354–63. http://dx.doi.org/10.20310/2587-9340-2019-3-11-354-363.
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Bankruptcy is an effective legal mechanism that allows people to get out of difficult financial situations. This mechanism is designed to reduce the debt burden on persons who are somehow in a difficult situation. In the Russian Federation, currently, the bankruptcy mechanism application or, in other words, the financial insolvency of a person is possible in relation to both individuals and legal entities. There are many people who, if there are visible gaps in the law, try to take advantage of them for personal purposes. Legislation in the field of financial insolvency is no exception-there was a concept of premeditated bankruptcy. Premeditated bankruptcy – bankruptcy carried out by a person artificially, with the creation of circumstances and conditions conducive to the recognition of a person bankrupt. The Russian legislation establishes punishment for premeditated bankruptcy, however the main difficulty is not the punishment of a person, but the proof of the fact of premeditated bankruptcy. We propose a solution to this problem, but not in the form of a typical increase in punishment, but in the form of strengthening the legal consequences after obtaining the status of bankrupt. Strengthening of consequences of obtaining the status of the bankrupt can warn persons from receiving such status intentionally, without necessary circumstances, artificially forming the circumstances necessary for obtaining the above-mentioned status. We establish possible ways to strengthen the consequences of obtaining the status of bankrupt, as well as specific proposals for improving the legislation on bankruptcy.
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Gruszczyński, Marek. "On Unbalanced Sampling in Bankruptcy Prediction." International Journal of Financial Studies 7, no. 2 (June 5, 2019): 28. http://dx.doi.org/10.3390/ijfs7020028.
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The paper discusses methodological topics of bankruptcy prediction modelling—unbalanced sampling, sample bias, and unbiased predictions of bankruptcy. Bankruptcy models are typically estimated with the use of non-random samples, which creates sample choice biases. We consider two types of unbalanced samples: (a) when bankrupt and non-bankrupt companies enter the sample in unequal numbers; and (b) when sample composition allows for different ratios of bankrupt and non-bankrupt companies than those in the population. An imbalance of type (b), being more general, is examined in several sections of the paper. We offer an extended view of the relationship between the biased and unbiased estimated probabilities of bankruptcy—probability of default (PD). A common error in applications is neglecting the possibility of calibrating the PD obtained from a bankruptcy model to the unbiased PD that is population adjusted. We show that Skogsviks’ formula of 2013 coincides with prior correction known for the logit model. This, together with solutions for other binomial models, serves as practical advice for obtaining the calibration of unbiased PDs from popular bankruptcy models. In the final section, we explore sample bias effects on classification.
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Rismadi, Maulivia Riska, Meutia Handayani, Rizki Ramadhan, Cut Yunina Eriva, and Talbani Farlian. "Prediksi Kebangkrutan Menggunakan Metode Altman dan Springate pada Perusahaan Penerbangan yang Terdaftar di Bursa Efek Indonesia." Jurnal Penelitian Ekonomi Akuntansi (JENSI) 7, no. 1 (June 16, 2023): 91–100. http://dx.doi.org/10.33059/jensi.v7i1.7671.
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This study aims to predict bankruptcy in airline companies listed on the Indonesia Stock Exchange, using the Altman and Springate methods during the 2019-2021 period. This research uses quantitative methods in the form of secondary data. The data used is in the form of financial statement data for airline companies listed on the IDX through the website www.idx.com. The population used are airline companies, namely, PT Garuda Indonesia Tbk, PT Air Asia Indonesia Tbk, PT Indonesia Transport & Infrastructure Tbk, and PT Jaya Trishindo Tbk. The results of the Altman and Springate methods can categorize companies as bankrupt or not bankrupt. This study has limited time in collecting research data. Based on calculations using the Altman formula, PT Air Asia did not go bankrupt during the period, PT Indonesia Transport & Infrastructure went bankrupt during the period, while the other two companies had experienced bankruptcy between the 3 periods. Based on the Springate method, the companies PT Garuda Indonesia and PT Indonesia Transport & Infrastructure experienced bankruptcy during the period, PT Air Asia Tbk did not go bankrupt during the period, while PT Jaya Trishindo experienced bankruptcy in the 2020 and 2021 periods. The method is used as a bankruptcy estimate, it cannot be said to be 100% accurate. Bankruptcy can occur with various factors that are not suspected by the company. further researchers can develop research by adding bankruptcy prediction methods and can add observation periods.
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Iwan, Mohamad. "BANKRUPTCY PREDICTION MODEL WITH ZETAc OPTIMAL CUT-OFF SCORE TO CORRECT TYPE I ERRORS." Gadjah Mada International Journal of Business 7, no. 1 (June 5, 2005): 41. http://dx.doi.org/10.22146/gamaijb.5563.
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This research examines financial ratios that distinguish between bankrupt and non-bankrupt companies and make use of those distinguishing ratios to build a one-year prior to bankruptcy prediction model. This research also calculates how many times the type I error is more costly compared to the type II error. The costs of type I and type II errors (cost of misclassification errors) in conjunction to the calculation of prior probabilities of bankruptcy and non-bankruptcy are used in the calculation of the ZETAc optimal cut-off score. The bankruptcy prediction result using ZETAc optimal cut-off score is compared to the bankruptcy prediction result using a cut-off score which does not consider neither cost of classification errors nor prior probabilities as stated by Hair et al. (1998), and for later purposes will be referred to Hair et al. optimum cutting score. Comparison between the prediction results of both cut-off scores is purported to determine the better cut-off score between the two, so that the prediction result is more conservative and minimizes expected costs, which may occur from classification errors. This is the first research in Indonesia that incorporates type I and II errors and prior probabilities of bankruptcy and non-bankruptcy in the computation of the cut-off score used in performing bankruptcy prediction. Earlier researches gave the same weight between type I and II errors and prior probabilities of bankruptcy and non-bankruptcy, while this research gives a greater weigh on type I error than that on type II error and prior probability of non-bankruptcy than that on prior probability of bankruptcy.This research has successfully attained the following results: (1) type I error is in fact 59,83 times more costly compared to type II error, (2) 22 ratios distinguish between bankrupt and non-bankrupt groups, (3) 2 financial ratios proved to be effective in predicting bankruptcy, (4) prediction using ZETAc optimal cut-off score predicts more companies filing for bankruptcy within one year compared to prediction using Hair et al. optimum cutting score, (5) Although prediction using Hair et al. optimum cutting score is more accurate, prediction using ZETAc optimal cut-off score proved to be able to minimize cost incurred from classification errors.
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Lawrence, Judy Ramage, Surapol Pongsatat, and Howard Lawrence. "The Use Of Ohlson's O-Score For Bankruptcy Prediction In Thailand." Journal of Applied Business Research (JABR) 31, no. 6 (October 28, 2015): 2069. http://dx.doi.org/10.19030/jabr.v31i6.9468.
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Business failure is a major concern to all parties involved and can create high costs and heavy losses. If bankruptcy can be predicted with reasonable accuracy ahead of time, firms can better protect their businesses and can take action to minimize risk and loss of business, and perhaps even prevent the bankruptcy itself. Bankruptcy prediction in thailand is important because business in thailand has historically operated on a system of trust where one person doing business trusts the other to perform as agreed upon in written and oral contracts. The threat of bankruptcy tends to diminish that trust and weakens the country's ability to prosper. While research in bankruptcy has been extensive, there has been only limited research on bankruptcy prediction in thailand. This study expands on an earlier study by pongsatat, et al (1994) using ohlson's o-score to determine if there a significant difference in ohlson’s o-score as measured by ohlson’s logit analysis model between bankrupt and non-bankrupt firms in thailand. The results of the independent samples t-test demonstrates that there are significant differences in the population means for one year, two years and three years prior to bankruptcy at the 0.05 level. Therefore the null hypothesis that there is no difference in the mean of ohlson’s o-score as measured by logit analysis between bankrupt and non-bankrupt firms in thailand is rejected.
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Tirayo, Adriel Michael, and Yoefanca Halim. "Problematik Definisi Harta Pailit untuk Mencapai Kepastian Hukum dalam Pelaksanaan Kepailitan dan PKPU." Jurnal Ilmiah Penegakan Hukum 6, no. 2 (December 3, 2019): 130. http://dx.doi.org/10.31289/jiph.v6i2.2963.
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<p>A legal product is expected to realize 3 legal purposes, which is Justice, Expediency and Legal Certainty. The definition of bankrupt assets is not mentioned implicitly in the Bankruptcy Law, that can lead to multiple interpretations. In practice, it happened in the court judgement Number 33/Pailit/2009/PN.Niaga.Jkt.Pst for the bankruptcy of PT. Tripanca Group, due to the absence of clear provisions relationg to bankruptcy assets. In this case, the problem to be answered is how is the implementation of bankrupt assets definitions in the court judgement Number 33/Pailit/2009/PN.Niaga.Jkt.Pst and the efforts that can be made related to the implementation of bankrupt assets definitions. This research used normative juridical method through literature study, then the data has been analized qualitatively and conclusions are drawn inductively. The results showed that the definition of "bankruptcy assets" in practice led to multiple interpretations as contained in the court judgement Number 33/Pailit/2009/PN.Niaga.Jkt.Pst, where the judge also included assets that did not belong to the debtor (third party collateral) into assets bankruptcy as a guarantee of repayment of debt. Therefore, efforts that can be made by the government are to revise the Bankruptcy Law, specifically related to the definition of Bankruptcy Assets to provide Legal Certainty and to disseminate information to legal entities, non-legal entities, and the public so as to gain understanding and knowledge related to Bankruptcy and PKPU in particular about bankruptcy assets.</p>
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Hamonangan, Alusianto, Muhammad Ansori Lubis, Mhd Taufiqurrahman, and Rudolf Silaban. "PERANAN KURATOR TERHADAP KEPAILITAN PERSEROAN TERBATAS." PKM Maju UDA 2, no. 1 (September 14, 2021): 20. http://dx.doi.org/10.46930/pkmmajuuda.v2i1.1182.
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A limited company that is declared bankrupt does not immediately stop and dissolve but still exists as a legal entity. Under certain circumstances it still exists to run its business, as usual, a limited liability company does not go bankrupt and can still carry out its business activities. This is because the company is declared bankrupt and has an economic value that is much higher than the value of the company's assets. Because bankruptcy is actually intended for companies that have negative assets. However, the decision to continue the bankruptcy company resulted in the power of the board of directors in a limited company. However, with the bankruptcy declaration, the debtor for the sake of law loses the right to control and manage his assets which are included in the bankruptcy estate as of the day of the declaration of bankruptcy. This study uses a juridical normative method, in which all sources are taken from literature, laws and other media. In the event of a limited liability company bankruptcy, the curator has the obligation to be able to manage and settle all bankruptcy assets and keep all related documents. As a result of the law that occurs from the bankruptcy of a limited liability company, it is hoped that the management of the company will carry out their duties and authority to the maximum in order to avoid bankruptcy which results in large losses to the company, especially losses incurred to debtors.
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Chekanova, I. Yu. "FEATURES OF BANKRUPTCY OF THE DEBTOR ORGANIZATION: RULES OF PROCEDURE." Business Strategies, no. 1 (February 7, 2018): 12–15. http://dx.doi.org/10.17747/2311-7184-2018-1-12-15.
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Nowadays companies go bankrupt rather frequently, which is mainly due to difficult business environment. It is necessary to find a reasonable approach to the problem of corporate bankruptcy that should result in companies reducing their risks and saving their money. This article touches upon the major reasons for involuntary bankruptcy, the process of filing a bankruptcy petition, and some possible consequences of becoming bankrupt for the company.
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Gu, Zheng, and Luyuan Gao. "A Multivariate Model for Predicting Business Failures of Hospitality Firms." Tourism and Hospitality Research 2, no. 1 (April 2000): 37–49. http://dx.doi.org/10.1177/146735840000200108.
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This study estimated a multivariate discriminant model for predicting hospitality firm bankruptcy. The model has a 93 per cent accuracy in classifying the in-sample firms into bankrupt and non-bankrupt firms. The model suggests that unprofitable firms burdened with debts, short-term debts in particular, are more likely to be candidates for bankruptcy. Fast expansion and sales growth of those firms may increase their bankruptcy likelihood.
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Sulaeman, Retno Sulati, and Eka Nurcahyani. "ANALISIS ALTMAN Z-SCORE UNTUK MENILAI TINGKAT KESEHATAN KEUANGAN PERUSAHAAN MANUFAKTUR SUB SEKTOR FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2017-2020." AKSELERASI: Jurnal Ilmiah Nasional 4, no. 1 (April 21, 2022): 77–92. http://dx.doi.org/10.54783/jin.v4i1.530.
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This study aims to analyze the Altman Z-Score to assess the level of financial soundness of manufacturing companies in the pharmaceutical sub-sector. This research uses descriptive quantitative method. The type of data applied is quantitative data. Quantitative data in the form of business entity financial data obtained from annual financial reports that have been audited and published in pharmaceutical sub-sector manufacturing companies listed on the Indonesia Stock Exchange for the period 2017 to 2020. Based on the results of the analysis, it can be seen that in 2017 and In 2018, there were five pharmaceutical companies that were in the healthy category and prone to bankruptcy. In the healthy category, namely PT Kalbe Farma Tbk, PT Industri Jamu and Pharmacy Sido Muncul Tbk, PT Tempo Scan Pacific Tbk, PT Darya-Varia Laboratoria Tbk, and PT Merck Tbk. Furthermore, there are four pharmaceutical companies that are in the category of prone to bankruptcy, namely, PT Kimia Farma Tbk, PT Indofarma Tbk, PT Phapros Tbk, and PT Pyridam Farma Tbk. Then for the category of bankrupt pharmaceutical companies in 2017 no one was in the bankruptcy zone. In 2019 there were two pharmaceutical companies that experienced a decline, namely, PT Kimia Farma Tbk which was previously in the bankruptcy prone category to be in the bankrupt category. And also happened to PT Merck Tbk, which was previously in the healthy category to be in the category of prone to bankruptcy. So that in 2019 there were pharmaceutical companies in the healthy category, four pharmaceutical companies in the bankrupt category, and one pharmaceutical company in the bankrupt category. In 2020 there were two pharmaceutical companies that experienced another decline, namely PT Darya-Varia Laboratoria Tbk which was previously in the healthy category into a bankruptcy-prone category, and PT Phapros Tbk which previously was in the bankruptcy-prone category into a bankrupt category. PT Kimia Farma Tbk remains in the bankrupt category. Meanwhile, PT Pyridam Farma Tbk experienced an increase from previously being in the category of prone to bankruptcy to being in the healthy category. So that in 2020 there are four pharmaceutical companies in the healthy category, three pharmaceutical companies in the bankruptcy prone category, two pharmaceutical companies in the bankrupt category.
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Shubhan, M. Hadi, Indrawati, and Dri Utari CR. "LEGAL RESTRICTION OF BANKRUPTCY OF STATE-OWNED ENTERPRISE (SEO) AND SUSTAINABILITY: THE CASE OF INDONESIA." Humanities & Social Sciences Reviews 8, no. 1 (February 18, 2020): 674–81. http://dx.doi.org/10.18510/hssr.2020.8181.
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Purpose of Study: This research examines the possibility of state-owned enterprises being nailed in the legal system in Indonesia. According to the bankruptcy regulation in Indonesia, those who are unable to pay debts can be declared bankrupt by the creditors, including SOEs. However, other regulations state that the government’s assets (including those within SOEs) cannot be confiscated, including within bankruptcy confiscation.
Methodology: The research method used in this study is qualitative research using the type of doctrinal law research. The approach used is to use the statutory approach, conceptual approach, and case approach. Data from this study were obtained from commercial courts in Jakarta and Surabaya.
Main Findings: This study found that there was a desynchronization of the regulations regarding the SOEs’ bankruptcy, i.e., between the Bankruptcy Law and the other laws, and even points within the Bankruptcy Law itself. The example that can be taken in this study is PT Kertas Leces /Limited Liability Company (LLC) Kertas Leces) that had already gone bankrupt and experienced confiscation of its bankrupt assets.
Implications: The ideal bankruptcy model for SOEs is that the bankruptcy applicants for SOEs in the form of public companies or state-owned companies should be the Minister of Finance. The Ministry of Finance is responsible for the operational policies and supervision of SOEs, amounting to approximately 115 companies in the form of public companies or state-owned companies, including those that have already gone public and those which have not.
Novelty: Previous studies have only focused on the assets of state-owned enterprises that have been separated and therefore bankrupt. This study examines another matter, namely that not all state-owned enterprises can be declared bankrupt and found one state-owned bankruptcy.
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Chekudaev, K. V., G. A. Suyazova, E. A. Motina, and N. A. Matvienko. "Application financial analysis methods for the designing of innovative food enterprises, aimed at import substitution." Proceedings of the Voronezh State University of Engineering Technologies 81, no. 1 (July 18, 2019): 397–401. http://dx.doi.org/10.20914/2310-1202-2019-1-397-401.
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The article formulates the problem of the lack of pectin production in the country, which affects the food security of Russia. The relevance and significance of this problem, as well as the feasibility of creating a pectin production line in the territory of the Voronezh Region are considered. Various technologies for the production of pectin are given, but the most progressive is the method of electro-membrane processing of technological media. Further, the work presents the production and financial plan of the projected enterprise for the production of pectin and based on its results, forward-looking financial statements are formed. To assess the probability of bankruptcy of an enterprise, it is necessary to create an adapted methodology for assessing the risk of bankruptcy. On the basis of a sample of enterprises whose activities are related to the production of thickeners and gelling agents, some of which are actual bankrupts, a modified Suyazova model is created. economic profitability indicators, current liquidity ratio, return on equity, stock turnover ratio, asset turnover and product sales profitability across all enterprises in the last three years of the company's activity were calculated. On the basis of the calculations made, a new method was obtained, defining 4 possible probabilities of bankruptcy: high, medium, low and minimal. The technique was tested on the same enterprises that were used to create it. Approbation of the methodology showed that in the year of bankruptcy all bankrupt enterprises were classified as bankrupt, and the existing ones were recognized as valid. The model also predicts the average and high probability of bankruptcy two years before the onset of insolvency. This allows us to conclude that the predictive power of the proposed methodology is high. The created model predicts minimal bankruptcy risk for the projected enterprise. Consequently, the creation of pectin production is recognized as expedient and the development of this enterprise must continue.
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Aliya Sandra Dewi. "REHABILITASI PEMULIHAN NAMA BAIK DEBITOR PAILIT DI INDONESIA." Juris 7, no. 2 (December 23, 2023): 286–95. http://dx.doi.org/10.56301/juris.v7i2.1039.
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This research aims to find out the debtor can restore his good name in order to restore his good name so that the debtor can still apply for credit again and the process that can be done to restore the good name of a debtor declared Bankrupt by the Court will lose reputation in the eyes of the public. The research method used is normative juridical, with a statutory approach (statue approach), historical approach (historical approach), and case approach (case approach).Based on the analysis and research results that first, the existing bankruptcy regulations are considered unreliable, namely the Civil Code, and Law No.37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations. Because bankruptcy can end with a peace. This peace is carried out by means of an agreement between the bankrupt debtor and the creditors to pay some of their debts first. However, in reality, not all settlements are acceptable. When reconciliation is not acceptable, insolvency becomes the way to end the bankruptcy. The second way to end a bankruptcy is through rehabilitation. Rehabilitation can be accepted if the creditor has received full payment of the debt. Then bankruptcy can be ended by a judge's decision in a higher court level. The judge's decision at a higher court level can revoke the bankruptcy declaration. In addition to these things, there are also things that can make bankruptcy end, namely the revocation of bankruptcy at the suggestion of the supervisory judge. The supervisory judge can give a recommendation to revoke the bankruptcy declaration decision because he knows the financial condition or assets of the bankrupt debtor.
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Irma, Febriana, Gunardi Lie, and Moody Rizqy Syailendra Putra. "Implementation of the Provisions of Laws and Regulations Concerning Bankruptcy in the PT Istaka Karya Case." QISTINA: Jurnal Multidisiplin Indonesia 2, no. 1 (June 1, 2023): 488–98. http://dx.doi.org/10.57235/qistina.v2i1.515.
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Bankruptcy according to Article 1 point 1 of the Bankruptcy Law No. 37 of 2004 is a general confiscation of all the assets of the Bankrupt Debtor which management and settlement are carried out by the Curator under the supervision of the Supervisory Judge as stipulated in this Law. The Bankruptcy and PKPU Laws have a wider reach both in terms of norms, scope of material, and the process of settling debts. This wider reach is necessary due to the emergence of legal developments and needs in society. PT Istaka Karya has been declared bankrupt by the Central Jakarta District Court. The formulation of the problem in this study is how to implement Law No. 37 of 2004 concerning Bankruptcy and PKPU in the bankruptcy case of PT Istaka Karya and whose authority has the right to bankrupt a State-Owned Enterprise. The reason for the bankruptcy of PT Istaka Karya is because it is unable to fulfill its obligations due at the end of 2021 on the Peace Decision Number 23/PKPU/2012/PN Niaga Central Jakarta dated January 22 2013 in accordance with the cancellation of homologation.
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Noh, Seol-Hyun. "Comparing the Performance of Corporate Bankruptcy Prediction Models Based on Imbalanced Financial Data." Sustainability 15, no. 6 (March 8, 2023): 4794. http://dx.doi.org/10.3390/su15064794.
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Forecasts of corporate defaults are used in various fields across the economy. Several recent studies attempt to forecast corporate bankruptcy using various machine learning techniques. We collected financial information on 13 variables of 1020 companies listed on the KOSPI and KOSDAQ to capture the possibility of corporate bankruptcy. We propose a data processing method for small-sample domestic corporate financial data. We investigate the case of random sampling of non-bankrupt companies versus sampling non-bankrupt companies based on approximate entropy and optimized threshold based on AUC to address the imbalance between the number of bankrupt companies and the number of non-bankrupt companies. We compare the performance measures of corporate bankruptcy prediction models for the small sample data structured in two ways and the full dataset. The experimental results of this study contribute to the selection of an appropriate corporate bankruptcy prediction model.
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Simanjuntak, Juhli Edi Suranta, Meri Aziana, and Tommy Munaf. "Analisis Tingkat Kebangkrutan Dengan Menggunakan Metode Altman Z-Score, Springate Dan Internal Growth Rate Pada Pt Bentoel Internasional Investama Tbk." Aksara: Jurnal Ilmu Pendidikan Nonformal 8, no. 3 (September 1, 2022): 2245. http://dx.doi.org/10.37905/aksara.8.3.2245-2254.2022.
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This study aims to determine how the level of bankruptcy at PT Bentoel Internasional Investama Tbk from 2016 to 2020 using the Altmatn Z-Score, Springate, and Internal Growth Rate methods. Companies, investors and creditors are expected to consider the results of this analysis. The type of research used in this research is descriptive research, in predicting bankruptcy the researcher uses multivariate analysis. This study uses secondary data from the company's financial statements listed on the Indonesia Stock Exchange. To measure financial performance, researchers analyzed the ratios contained in the three models.The results of the analysis of the company's bankruptcy rate using the Altman Z-Score method in 2016 were the company was in the "not bankrupt" category while for 2017, 2018, 2019 the company was in the "grey area" category and in 2002 the company was categorized as "bankrupt". The results of the analysis of the bankruptcy rate as measured by the springate method show that in 2016 and 2020 the company was categorized as "bankrupt" and for 2017, 2018 and 2019 the company was categorized as "not bankrupt". For the results of measuring the bankruptcy rate using the Internal Growth Rate method in 2016, 2017, 2018 and 2019 the company was categorized as "bankrupt" and for 2020 the company was included in the "not bankrupt" category.
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Muryati, Dewi Tuti, B. Rini Heryanti, and Dharu Triasih. "KAJIAN NORMATIF ATAS KEPAILITAN BUMN (PERSERO) DALAM KAITANNYA DENGAN PENGATURAN PERSEROAN TERBATAS." Jurnal Dinamika Sosial Budaya 17, no. 1 (June 8, 2015): 29. http://dx.doi.org/10.26623/jdsb.v17i1.500.
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<p><em>Bankruptcy problem to Warm Up State Belonging Effort in praktik jurisdiction is still to be felt haven't available perception equation among practitioners sentences notably judges. On latterly there are many Effort Body Belongs To State notably get Persero's form that supplicated by bankrupt at Commerce Justice. Position Warms Up State Belonging Effort as body of civil law can as creditor and get too as debtor. If Effort Body Belongs To State have book debt and have maturity value but its book debt nonpayment, therefore bases UU No. 40 Years 2007 about limited liabilities and UU No. 37 Years 2004 about bankruptcy and Paying liabilities Pauses Book Debts therefore necessarily gets to be supplicated by bankrupts. But with marks sense arrangement about state wealth accompaniment in capital BUMN Persero who gets bearing with arrangement about state finance, therefore then evoking various opinion hits BUMN'S bankruptcy in particular that gets to form Persero. Based on on that condition, this research is done for menganalisis arrangement hits bankruptcy to BUMN Persero in its bearing with limited liability bankruptcy bases UU No. 37 Years 2004, effect law for the parties to bankrupt statement on BUMN Persero, and BUMN Persero's bankruptcy if concerned by state asset position in BUMN. Observational exterior target this is yielding scientific opus observational one be publicized on journal. Approximate methods who will be utilized deep observational it is normatif's judicial formality approaching. Ala does this research descriptive analytical, which is with give picture specially up on aught fact. Data collecting is done through</em></p><p><em>studi bibliography and studi is document that as data of secondary and that dianalisis will kualitatif's ala. Based yielding observational acknowledged that deep Section 2 sentences (5 ) UU No. 37 Years 2004 just manage blurs only about bankruptcy BUMN which is just concerns BUMN that moving at public behalf area and not give detail's ala formulation, remembering terminological BUMN UU No. 19 Years 2003 is Perum and Persero. Hereafter been known that bankrupt statement application to BUMN Persero, will take in law effect to debtor and the parties which is available one needs dimintakan by particular party and given institution assent or Rule of Reason , but there is also that prevailing by that law, e.g. confiscate common. Known too that with publishes it Supreme Court letter No. WKMA / Yud / 20 / VIII / 2006 dates</em></p><p><em>16th August 2006 and publish PP No. 33 Years 2006 is next to be followed Finance Minister statement which is corporate Credit managements States / Region is done bases UU limited liabilities and UU BUMN, thing such it if bankruptcy happening on BUMN Persero. </em></p>
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Andani, Devi. "Perlindungan Hukum Kepailitan Perusahaan Solvable di Indonesia." Kajian Hukum 7, no. 1 (May 20, 2022): 76–91. http://dx.doi.org/10.37159/kh.v7i1.2.
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Abstract This study aims to determine the legal protection for bankruptcy of solvable companies in Indonesia. The method used is qualitative by following the typology of normative legal research, data is collected by means of literature studies and documents written descriptively and analyzed qualitatively. The results of this study indicate that bankruptcy decisions can occur in solvable companies, if the party applying for a bankruptcy statement has fulfilled the requirements, namely, there are debtors, there are two or more creditors, there is debt, and at least one debt has fallen due and can be paid off. billed. Meanwhile, legal protection for solvable companies that are declared bankrupt is not regulated in Law Number 37 of 2004. According to this law, if the company has been declared bankrupt, then the company is no longer capable of carrying out legal actions and general confiscation is carried out on all company assets even though the company is concerned are included in solvable companies. In the future, the Indonesian Bankruptcy Law must be designed to protect solvable companies by providing arrangements regarding company reorganization as a way to save companies from bankruptcy, providing more detailed requirements so that certain parties can apply for bankruptcy statements, and providing legal protection for solvable companies against bankruptcy. bankruptcy threat.
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Martini, Rita, Rana Raihana Aksara, Kartika Rachma Sari, Zulkifli Zulkifli, and Sukmini Hartati. "Comparison of Financial Distress Predictions With Altman, Springate, Zmijewski, and Grover Models." Golden Ratio of Finance Management 3, no. 1 (March 31, 2023): 11–21. http://dx.doi.org/10.52970/grfm.v3i1.216.
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Several predictive models of financial distress and corporate bankruptcy have been developed. In this study, the Altman model (Z-Score), the Springate model (S-Score), the Zmijewski model (X-Score), and the Grover model (G-Score) were used. These methods are used to analyze the potential for financial difficulties which in the end to determine the potential for bankruptcy at PT Garuda Indonesia (Persero) Tbk. The secondary data used is in the form of financial statements for 2018-2020. The results of the bankruptcy prediction using the Altman model resulted in PT Garuda Indonesia (Persero), Tbk being in the bankrupt area, which experienced financial difficulties in 2018 to 2020. The Springate model was in a distress position and went bankrupt in 2018 and 2020, while in 2019 is in the gray area. Then the Zmijewski model is in a state of bankruptcy, which is experiencing financial difficulties and has the potential to go bankrupt in three years. Grover's model shows the company was in a state of bankruptcy in 2018 and 2020, and safe in 2019.
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Blanco-Oliver, A., A. Irimia-Dieguez, M. D. Oliver-Alfonso, and M. J. Vázquez-Cueto. "Hybrid model using logit and nonparametric methods for predicting micro-entity failure." Investment Management and Financial Innovations 13, no. 3 (August 23, 2016): 35–46. http://dx.doi.org/10.21511/imfi.13(3).2016.03.
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Following the calls from literature on bankruptcy, a parsimonious hybrid bankruptcy model is developed in this paper by combining parametric and non-parametric approaches.To this end, the variables with the highest predictive power to detect bankruptcy are selected using logistic regression (LR). Subsequently, alternative non-parametric methods (Multilayer Perceptron, Rough Set, and Classification-Regression Trees) are applied, in turn, to firms classified as either “bankrupt” or “not bankrupt”. Our findings show that hybrid models, particularly those combining LR and Multilayer Perceptron, offer better accuracy performance and interpretability and converge faster than each method implemented in isolation. Moreover, the authors demonstrate that the introduction of non-financial and macroeconomic variables complement financial ratios for bankruptcy prediction
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Hackney, Donald D., Daniel L. Friesner, and Erica H. Johnson. "Towards a Working Profile of Medical Bankruptcy." Journal of Financial Counseling and Planning 29, no. 1 (June 2018): 75–90. http://dx.doi.org/10.1891/1052-3073.29.1.75.
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Medical bankruptcy refers to individuals with serious medical conditions who feel compelled to file for bankruptcy to seek relief from their medical debts. Noticeably lacking in the literature is a consistent, evidence-based criterion to define who may be classified as medically bankrupt. A more concrete definition would allow policy makers to understand the magnitude of the problem and allow financial counselors to better inform certain households about seeking bankruptcy protection when faced with medical bills. This study uses data drawn from the U.S. Bankruptcy Court’s Eastern Washington District to create an empirical profile of bankruptcy petitioners with medical debt. We then identify those characteristics statistically associated with being “at-risk” of a medical bankruptcy to better understand and define medical bankruptcy.
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Hariyanto. "Optimization of Bankruptcy Assets in the Form of Non-Fungible Token (NFT) by the Curator Based on Indonesian Bankruptcy Law." International Journal of Science and Society 5, no. 1 (March 24, 2023): 374–88. http://dx.doi.org/10.54783/ijsoc.v5i1.663.
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This research is a normative juridical study of non-fungible token (NFT) regarding the position of NFT in relation to positive law in Indonesia, legal certainty for bankrupt assets in the form of NFT and the efforts that can be made by curators in order to optimize bankruptcy assets in the form of NFT. The results of this study indicate that NFT has met the classification of immovable and indivisible movable objects. The provisions of Article 21, Article 98 and 101 Paragraph (1) of the Bankruptcy Law have provided legal certainty to curators and bankrupt creditors that NFT is a bankrupt asset that must be optimized by the curator to pay off the debts of debtors. There are 3 main obstacles by the curator in optimizing bankrupt assets in the form of NFT, in the process of registering NFT as bankrupt assets, the process of determining the best time to sell NFT and the method of selling NFT based on the Bankruptcy Law. Against these obstacles, the Bankruptcy Law and positive law have provided efforts that can be taken by curators in the context of optimizing bankrupt assets.
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Fauzia, Ika Yunia. "MENDETEKSI KEBANGKRUTAN SECARA DINI PERSPEKTIF EKONOMI ISLAM." EKUITAS (Jurnal Ekonomi dan Keuangan) 19, no. 1 (February 2, 2017): 90. http://dx.doi.org/10.24034/j25485024.y2015.v19.i1.1758.
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Early bankruptcy detection can be carried out well when an entrepreneur implements integrity and competence in managerial systems, accounting reporting systems, capital structure usage system and business security system from fraud. Related to bankruptcy, Islamic economics recognized iflas (bankruptcy) and muflis (bankrupt entity). A law subject to a muflis is known as al-Hajr. This is a qualitative research with linear snowball method used as data collection technique. 10 of entrepreneurs who went bankrupt were interviewed. The interview rolled like a snowball for one by one informant was interviewed persuasively to gain important information on their causes of bankruptcy. Results of this study explained that the majority of the bankruptcy was caused by the use of capital structure that did not conform qualifications, followed by the lack of proper accounting reporting, poor management systems, lack of professionalism and fraudulence from internal and external aspects.
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Hidayat, Anwar, Muhamad Abas, and Dalih Purwana. "JURIDICAL REVIEW OF BANKRUPTCY CONDITIONS AND DELAY OF DEBT REPAYMENT OBLIGATIONS." Awang Long Law Review 6, no. 1 (November 30, 2023): 231–36. http://dx.doi.org/10.56301/awl.v6i1.992.
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Bankruptcy results in a general confiscation of all assets of the bankrupt debtor (budel bankrulit). An important phase in the bankruptcy process is the insolvency stage. Based on the explanation of Article 57 paragraph 1 of the Bankruptcy Law and PKPU, what is meant by insolvency is the state of inability to pay, this is in line with the Central Jakarta Commercial Court Decision Number: 44 / PDT. SUS. PAILIT/20 20/PN. TRADE. JKT. PST. That PT. Pazia Retailindo was declared bankrupt. Application for bankruptcy filed by PT. Dana Kaya through its Directors, namely Sri Dewi Endang Mumpuni and Ambar Bawono on October 20, 2020, was represented by the appointed legal representative, namely PARLIN SIHOMBING, S.E., S.IP., S.H. Advocate at the Law Firm BELASSANDRO TORUAN &; PARTNERS. The problem raised in this study is the condition of Insolvency of PT. Pazia Retailindo before the bankruptcy decision , and what underlies the judge's consideration in the bankruptcy decision Number: 44 / Pdt.Sus.Pailit / 20 20 / Pn.Niaga.Jkt.Pst which refers to Law Number 37 of 2004. This research uses a Normative Juridical approach. The result of this study is that the legal considerations used by the panel of judges in deciding the bankruptcy case of PT. Pazia Retailindo complies with Law Number 37 of 2004 concerning Bankruptcy and PKPU, namely the fulfillment of all elements contained in Article 2 Paragraph 1 and Article 8 Paragraph 4 of the Bankruptcy Law and PKPU.
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Simanjuntak, Ranto Parulian. "CURATORS ARE VULNERABLE TO BE CRIMINALIZED AND CRIMINATED IN BANKRUPTCY AND PKPU PROCESSES." Global Legal Review 3, no. 2 (October 31, 2023): 141. http://dx.doi.org/10.19166/glr.v3i2.7424.
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<p>The Curator is one of the important organs in the debt settlement process between debtors and their creditors through bankruptcy law instruments. Based on Law Number 37 of 2004 concerning Bankruptcy and Postponement of Debt Payment Obligations (PKPU), the Curator is given broad and broad duties and powers in managing and settling the assets of a bankrupt debtor. Because since being declared bankrupt by the court, the debtor has lost his right to manage his business and assets. The duties and authorities to administer the business and assets of the bankrupt debtor rest in the hands of the Curator, who works under the supervision of the Supervisory Judge. In carrying out its duties and authorities, the Curator must adhere to the provisions of the Law and the Professional Code of Ethics, namely being independent, having no conflict of interest and not handling more than 3 (three) Bankruptcy and PKPU cases. If in carrying out its duties and authorities it causes damage to the bankrupt assets, then the Curator must be legally responsible. That means, the Curator does not have the right of immunity or impunity in carrying out his duties and authorities to manage and settle bankruptcy assets in accordance with the provisions of the law. The Curator is not a public official. The Curator may be punished if his actions and decisions in administering and settling the bankrupt assets cause harm to the bankrupt assets. However, Law Number 37 of 2004 concerning Bankruptcy and PKPU does not include criteria for criminal acts and criminal sanctions for Curators. Because of this, Curators are vulnerable to being criminalized and punished.</p><p>The Curator is one of the important organs in the debt settlement process between debtors and their creditors through bankruptcy law instruments. Based on Law Number 37 of 2004 concerning Bankruptcy and Postponement of Debt Payment Obligations (PKPU), the Curator is given broad and broad duties and powers in managing and settling the assets of a bankrupt debtor. Because since being declared bankrupt by the court, the debtor has lost his right to manage his business and assets. The duties and authorities to administer the business and assets of the bankrupt debtor rest in the hands of the Curator, who works under the supervision of the Supervisory Judge. In carrying out its duties and authorities, the Curator must adhere to the provisions of the Law and the Professional Code of Ethics, namely being independent, having no conflict of interest and not handling more than 3 (three) Bankruptcy and PKPU cases. If in carrying out its duties and authorities it causes damage to the bankrupt assets, then the Curator must be legally responsible. That means, the Curator does not have the right of immunity or impunity in carrying out his duties and authorities to manage and settle bankruptcy assets in accordance with the provisions of the law. The Curator is not a public official. The Curator may be punished if his actions and decisions in administering and settling the bankrupt assets cause harm to the bankrupt assets. However, Law Number 37 of 2004 concerning Bankruptcy and PKPU does not include criteria for criminal acts and criminal sanctions for Curators. Because of this, Curators are vulnerable to being criminalized and punished.</p><p><strong><br /></strong></p>
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Adamus, Rafał. "Liquidation of the Bankruptcy Estate in Poland." Bratislava Law Review 4, no. 1 (August 31, 2020): 115–30. http://dx.doi.org/10.46282/blr.2020.4.1.156.
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The purpose of this study is to present the general principles and general issues of liquidation of the bankruptcy estate under Polish law. It should be stressed that liquidation of the bankruptcy estate is intended to satisfy the creditors of the insolvent debtor. Therefore, the manner of liquidation of the bankruptcy estate has an obvious impact on the final bankruptcy dividend for the creditors. The rules governing the liquidation of the bankrupt’s assets are of the key-importance for the theory of law and the practice. The article defines the directional principles of liquidation of the bankruptcy estate, procedure of liquidation of the bankruptcy estate. The subject of this paper there is the liquidation of the bankruptcy estate in dealing with insolvent consumers and the so-called prepared liquidation (pre-pack), which is to simplify and accelerate the liquidation of the debtor's assets. The issue of the liquidation of the bankruptcy estate became seriously important because of the crisis after SARS-CoV-2 epidemy.
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Jindal, Niket. "The Impact of Advertising and R&D on Bankruptcy Survival: A Double-Edged Sword." Journal of Marketing 84, no. 5 (July 10, 2020): 22–40. http://dx.doi.org/10.1177/0022242920936205.
Full textAbstract:
Advertising and research and development (R&D) benefit firms by increasing sales and shareholder value. However, when a firm is in bankruptcy, the cumulative effects of its past advertising and R&D can be a double-edged sword. On the one hand, they increase the firm’s expected future cash flow, which increases the likelihood that the bankruptcy court will decide the firm can survive. On the other hand, they increase the liquidation value of the firm’s assets, which decreases the likelihood that the bankruptcy court will decide that the firm can survive. The author argues that the ability of advertising and R&D to either increase or decrease bankruptcy survival is contingent on the influence that the firm’s suppliers have, relative to other creditors, on the bankruptcy court’s decision. Advertising and R&D increase (decrease) bankruptcy survival when suppliers have a high (low) level of influence. Empirical analyses, conducted on 1,504 bankruptcies, show that advertising (R&D) increases bankruptcy survival when at least 35%−38% (18%−21%) of the bankrupt firm’s debt has been borrowed from suppliers, whereas it decreases bankruptcy survival below this point. Out-of-sample machine learning validation shows that the ability to predict whether a bankrupt customer will survive is substantially improved by considering the firm’s advertising and R&D.
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Pramana, Raditya Triatmaji, and Bambang Dwi Baskoro. "The Board of Directors' Criminal Liability for Companies Which Declared On Bankruptcy." Jurnal Daulat Hukum 4, no. 4 (November 24, 2021): 239. http://dx.doi.org/10.30659/jdh.v4i4.17784.
Full textAbstract:
Bankruptcy is regulated in Act No. 37 of 2004 concerning Bankruptcy and Postponement of Debt Payment Obligations (PKPU). In the regulation, the company is declared bankrupt, meaning that when the debtor (debt owner) has two or more creditors (debtors) who do not pay debts that are due and can be collected (cause of bankruptcy). The responsibility of the Board of Directors whose company is experiencing bankruptcy is in principle the same as the responsibility of the Board of Directors whose company is not experiencing bankruptcy. Bankruptcy status applies when there is a decision of the Commercial Court, whether it comes from the application itself or one or more creditors. After being declared bankrupt, the court decided to sell all of the company's assets, the proceeds of which were used to pay the debtors' obligations that were already bankrupt to the creditors. Based on the aforementioned background, a problem can be drawn as follows: What is the liability of the directors who are declared bankrupt? How can the board of directors be declared negligent or wrong which results in the corporation being declared bankrupt? The approach method used in writing this law is normative juridical or also called doctrinal law research. The research specification in this writing is descriptive-analytic. Based on the results of the research, it can be concluded that the Board of Directors is not personally responsible for the actions committed for and on behalf of the Company based on their authority. This is because the actions of the Board of Directors are seen as actions. The Board of Directors is said to have been wrong or negligent which resulted in the Company being declared bankrupt, namely the lack of good faith by the directors to pay off debts to creditors. The Board of Directors neglected to pay off debts to creditors.
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Vinnikova, Irina. "Assessment of factors that affect the bankruptcy of an organization." Scientific notes of the Russian academy of entrepreneurship 19, no. 1 (March 25, 2020): 57–71. http://dx.doi.org/10.24182/2073-6258-2020-19-1-57-71.
Full textAbstract:
Analysis of factors that influence the company's bankruptcy is one of the main tasks for companies that want to assess their financial situation and prevent possible bankruptcy in a timely manner. This article analyzes the factors that affect the company's bankruptcy. A logistic regression model was constructed based on the indicators of both bankrupt and financially stable companies. During the development of the model, significant factors were identified for predicting the bankruptcy of the organization. The results will be useful both for future bankruptcy researchers and for those companies that want to assess their financial situation.
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Krüger, Josef GA. "Restructuring of Insolvent Corporations in Canada." Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 13, no. 3 (June 19, 2017): 1. http://dx.doi.org/10.17159/1727-3781/2010/v13i3a2650.
Full textAbstract:
This paper gives a very general outline of the formal restructuring of insolvent corporations in Canada. For a South African audience, it is important to understand that in Canada a distinction is made between an "insolvent person" and a "bankrupt". A "bankrupt" means a person who has made an assignment into bankruptcy (voluntarily), or against whom a bankruptcy order has been made. An "insolvent person" means a person who is not bankrupt and who resides, carries on business or has property in Canada, whose liabilities to creditors amount to $1 000, and who is for any reason unable to meet his obligations as they generally become due, or who has ceased to pay his current obligations in the ordinary course of business as they generally become due, or the aggregate of whose property is not, at a fair valuation, sufficient, or, if disposed of at a fairly conducted sale under legal process would not be sufficient to enable payment of all his obligations, due and accruing due. An "insolvent person" in Canada may avoid bankruptcy by resorting to restructuring processes created by statute. The fact that a person becomes insolvent does not necessarily spell bankruptcy. Canadians are fortunate to have access to bankruptcy courts and insolvency practitioners with a high level of commercial and legal skills to assist them in restructuring their financial affairs and avoiding bankruptcy.
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Adamus, Rafał. "Legally protected cultural goods and bankruptcy proceedings." Opolskie Studia Administracyjno-Prawne 18, no. 2 (October 28, 2020): 9–26. http://dx.doi.org/10.25167/osap.2177.
Full textAbstract:
This paper deals with general problems of legal aims of bankruptcy proceedings in connection with the aims of heritage protection – issues built by completely different systems of values. Bankruptcy is designed for protecting pecuniary interest of a limited group of people, while cultural heritage is protected for present and future generations, despite its current commercial significance. In the global environment, bankruptcy of a cultural goods owner usually has a cross-border range but national bankruptcy legislations and laws devoted to heritage protection differ in very serious aspects. For this reason the paper is not limited to any concrete legal order. There are discussed some important universal issues: limits for a trustee in managing cultural goods which are a part of bankruptcy estate, legal status of cultural goods excluded from bankruptcy estate, consequences of bankruptcy sale in the case of lack of bankrupt’s ownership title.
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Yuhelson, Yuhelson, and Muhamad Adystia Sunggara. "The Curator Responsibility of the Loss of Wealth Bankrupt Limited Company." Proceeding of Community Development 2 (February 21, 2019): 37. http://dx.doi.org/10.30874/comdev.2018.74.
Full textAbstract:
Curators can be personally liable if they make a mistake or negligence outside the provisions of the Bankruptcy Act and PKPU which causes losses to bankrupt assets. If the curator has carried out his duties in accordance with the provisions of the Bankruptcy Act and PKPU, then if a loss arises from bankruptcy, he does not have to be personally liable and the loss will be charged to the bankrupt assets. In connection with the personal responsibility of the curator, in addition to being able to be held accountable civilly it is possible for the curator's actions to be held criminally accountable. In addition, administrative sanctions can also be imposed on the curator. It should be borne in mind that as long as the curator carries out his duties and authorities in accordance with the provisions of the Bankruptcy and PKPU Law, he should not be sued either civilly, criminally or subject to administrative sanctions even if his actions cause losses to bankrupt assets.
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Ismanto, Deny, and Dyah Ernawati. "Analisis Diskriminan Untuk Memprediksi Kebangkrutan Perusahaan: Studi Kasus Pada Perusahaan Sektor Textile Dan Garment Di Bursa Efek Indonesia 2016-2018." Jurnal Sains Sosio Humaniora 5, no. 1 (June 30, 2021): 132–40. http://dx.doi.org/10.22437/jssh.v5i1.13978.
Full textAbstract:
Failure to make a continuous profit will hamper the company's development and this can lead to bankruptcy. Bankruptcy is usually marked by financial distress. Companies that are not able to overcome financial difficulties and problems are getting protracted, then the company will go bankrupt. One way to predict bankruptcy is by using discriminant analysis. This type of research is descriptive with a quantitative approach. The data collection method used is documentation. The population in this study were Textile & Garment companies listed on the IDX in 2016-2018. The sampling technique was purposive sampling and obtained a sample of 8 companies with a potential bankruptcy and 10 companies for 3 years of observation. The results showed that of the 2 financial ratios used Quick Ratio (QR) and Return On Asset (ROA), only the Quick Ratio (QR) ratio proved significant to be able to distinguish bankrupt and non-bankrupt companies. By using discriminant analysis. The dominant variable informing the discriminant function is the Quick Ratio (QR).
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Amanda, Elsie Zandra, and Apriani Dorkas Rambu Atahau. "PREDIKSI KEBANGKRUTAN PT ASURANSI JIWASRAYA DAN PT PRUDENTIAL LIFE INSURANCE : APLIKASI METODE ALTMAN Z-SCORE." Jurnal Riset Akuntansi Politala 3, no. 1 (June 29, 2020): 17. http://dx.doi.org/10.34128/jra.v3i1.42.
Full textAbstract:
Insurance companies are non-bank financial institutions engaged in services to overcome the risks that will occur in the future so that it is expected not to go bankrupt. The purpose of this study was to compare the potential bankruptcy of PT Asuransi Jiwasraya and PT Prudential Life Insurance for the period 2010 to 2017 using the Altman Z-Score method. Bankruptcy itself is a condition in which a company does not have sufficient funds to run its business again. The initial symptoms of bankruptcy are financial distress, which is characterized by uncertainty about the company's profitability in the future. Based on the research results of PT Asuransi Jiwasraya in 2010, 2011, 2012, 2015 and 2016 are in the gray zone or have the potential to go bankrupt. In 2013, 2014 and 2017 were in danger zones or bankrupt companies. While the results of research at PT Prudential Life Insurance show during the period 2010-2017 included in the gray zone or the potential for bankruptcy.