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1
Kharisma Ika Nurkhasanah, Dhafina Fazarona, and Cantika Asnanti. "Legal Protection for Creditors Holding Second Rank Collateral that Cannot Be Executed." Indonesian Journal of Interdisciplinary Research in Science and Technology 3, no. 2 (February 28, 2025): 209–24. https://doi.org/10.55927/marcopolo.v3i2.10.
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Mortgage right is the main collateral in banking that provides legal certainty for creditors in credit agreements. The ranking system in Hak Tanggungan determines the priority of debt repayment, where the first ranked creditor has the main right to the proceeds of the execution of the collateral. Subsequent ranking creditors only receive repayment if there are still remaining proceeds from the execution. An empirical juridical approach is used in this research to understand the normative aspects and legal practices in the community. The inability of second ranking creditors to execute collateral is often caused by the insufficient value of the collateral object. To reduce disputes, a clear agreement and notarial deed recording in APHT are required. Collateral execution can be carried out through litigation and non-litigation mechanisms to ensure the fulfillment of creditor rights in cases of default.
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Al-Barashdi, Saleh, and Horace Yeung. "An Assessment of Various Theoretical Approaches to Bankruptcy Law." Journal of Arts and Social Sciences [JASS] 9, no. 1 (June 11, 2018): 23. http://dx.doi.org/10.24200/jass.vol9iss1pp23-36.
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A broad diversity of interests could be affected by the bankruptcy of companies. If a company is bankrupt, aquestion on whether the main goal of bankruptcy rules should be to protect the interests of creditors or it should create a balance between the interests of creditors as well as non-creditors, e.g., employees, suppliers, and third parties. A number of theories on the policy underpinning bankruptcy law exist. These theories can be, in general, categorized into two main groups: i) the first theory is of the view that the main objective of bankruptcy law should be merely to maximize the collective returns to creditors, ii) the second theory is to create a balance between the rules protecting creditors versus others, as bankruptcy creates a community of parties who are affected by the debtor’s financial distress beside creditors such as employees, customers, supplier, and local authority. The purpose of this article is to analyze, compare, and evaluate the theories underpinning bankruptcy law.
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Al-Barashdi, Saleh, and Horace Yeung. "An Assessment of Various Theoretical Approaches to Bankruptcy Law." Journal of Arts and Social Sciences [JASS] 9, no. 1 (June 11, 2018): 23–36. http://dx.doi.org/10.53542/jass.v9i1.2624.
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A broad diversity of interests could be affected by the bankruptcy of companies. If a company is bankrupt, aquestion on whether the main goal of bankruptcy rules should be to protect the interests of creditors or it should create a balance between the interests of creditors as well as non-creditors, e.g., employees, suppliers, and third parties. A number of theories on the policy underpinning bankruptcy law exist. These theories can be, in general, categorized into two main groups: i) the first theory is of the view that the main objective of bankruptcy law should be merely to maximize the collective returns to creditors, ii) the second theory is to create a balance between the rules protecting creditors versus others, as bankruptcy creates a community of parties who are affected by the debtor’s financial distress beside creditors such as employees, customers, supplier, and local authority. The purpose of this article is to analyze, compare, and evaluate the theories underpinning bankruptcy law.
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Walther, Ansgar, and Lucy White. "Rules versus Discretion in Bank Resolution." Review of Financial Studies 33, no. 12 (March 12, 2020): 5594–629. http://dx.doi.org/10.1093/rfs/hhaa032.
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Abstract Recent reforms have given regulators broad powers to “bail-in” bank creditors during financial crises. We analyze efficient bail-ins and their implementation. To preserve liquidity, regulators must avoid signaling negative private information to creditors. Therefore, optimal bail-ins in bad times only depend on public information. As a result, the optimal policy cannot be implemented if regulators have wide discretion, due to an informational time-inconsistency problem. Rules mandating tough bail-ins after bad public signals, or contingent convertible (co-co) bonds, improve welfare. We further show that bail-in and bailout policies are complementary: if bailouts are possible, then discretionary bail-ins are more effective.
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Kuznetsov, A. A. "Conditions for Creditors to Exercise Special Rights during Reorganization." Lex Russica 74, no. 2 (February 25, 2021): 21–28. http://dx.doi.org/10.17803/1729-5920.2021.171.2.021-028.
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The business reorganization regulation has traditionally been associated with creditor’s rights protection. The main difficulty in this case lies in the fact that in attempts to provide comprehensive protection of creditors to prevent them from losing the main thing for which the reorganization is needed—in fact, to enable enterprises to adapt to changing economic conditions—because in the presence of excessively burdensome rules, entrepreneurs will not be able or not want to take advantage of such a legal regime. In other words, any law and order is forced to seek a balance between the interests of reorganized entities and creditors. The Russian doctrine is largely isolated from the European tradition and focuses on the discussion of private issues of the application of Russian rules and lacks clear conceptual guidelines for development of these very rules. Special rights that the creditor has in connection with the reorganization of the company constitute the basis for the protection of the creditor’s legitimate interests. The shortcomings of domestic rules give rise to practical problems in the implementation of reorganizations. The creditor’s exercise of special rights during reorganization creates many risks for the company. In this regard, all legal orders impose restrictions on creditors exercising their rights. The paper discusses expedient restrictions of such rights on the basis of the European doctrine.The author concludes that each law and order has developed its own restrictions regarding the circle of creditors protected during reorganization. Concurrently, from the point of view of the previously considered rationale for the protection of creditors the only restrictions we can justify are the restrictions on the exercise of special rights in the event of reorganization of those creditors whose obligations arose after the reorganization started (disclosure of information about reorganization), as well as creditors who have other means of protecting their legitimate interests (for example, a counter-non-performance objection or the right to demand termination of the contract).
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Connell, Brendan J. "Electoral Rules, Interest Group Pressures, and the Price of Democratic Default." International Studies Quarterly 63, no. 4 (August 26, 2019): 987–1000. http://dx.doi.org/10.1093/isq/sqz067.
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Abstract Conventional wisdom dictates that democracies are reliable in upholding their international commitments. However, this assertion is at odds with democratic behavior in sovereign borrowing where democracies have sometimes imposed considerable losses on foreign creditors. Why do some democracies choose to renege on extremely large portions of their sovereign debt during economic crisis? This article argues that costs incurred by creditors are dependent on how the borrowing state's electoral system aggregates competing domestic economic interests. Internationally oriented economic interests prefer to minimize creditor losses since sizeable debt reductions are more likely to compromise access to foreign credit. Conversely, workers and domestic-oriented economic interests prefer to maximize losses faced by foreign creditors in order to ease the costs of austerity at home. By shaping the political incentives of policymakers, I argue that democracies with candidate-centric electoral systems should be associated with sovereign defaults that are less costly for foreign creditors. Under these electoral systems, governments hold incentives to cater primarily to internationally oriented economic interests that are best able to overcome the costs of collective action. Statistical evidence from 53 sovereign debt restructurings between 1978 and 2012 supports the main argument.
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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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Zhang, Xinyu. "Study on the Application of the Rules of Corporate Personality Denial." Frontiers in Business, Economics and Management 10, no. 2 (August 14, 2023): 370–76. http://dx.doi.org/10.54097/fbem.v10i2.11072.
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The creation of the corporate system is a great invention, it gives the company with independent personality and shareholders with limited liability, stimulate the enthusiasm of investors, greatly promote the development of social economy. However, with the development of society, the use of legal person independent personality and limited liability of shareholders to avoid debt gradually increased, so the legal person personality denial system came into being, used to protect the legitimate rights and interests of creditors. The implementation of the legal personality denial system is always centred on two principles, namely, the principle of good faith and the principle of prohibiting the abuse of rights, the purpose is to protect the interests of creditors, mainly through the restriction of shareholders to abuse the rights of the shareholders to deny the abuse of the limited liability of the shareholders of the company's independent personality at the same time, but also to balance the interests of the shareholders of the company and the creditors.
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MAULUDIN, NOVIE AFIF. "KEDUDUKAN KREDITOR SEPARATIS DALAM PROSES KEPAILITAN." GANEC SWARA 17, no. 1 (March 4, 2023): 24. http://dx.doi.org/10.35327/gara.v17i1.366.
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The purpose of this study is to find out how the position of separatist creditors in the bankruptcy process is. To answer the problem formulation of the author. The research method used is a normative juridical research method, namely legal research conducted by examining library materials or secondary data. By collecting and then reviewing library materials or secondary data relevant to this research. The results of the research that the provisions in the Law on Guarantees and the Law on Bankruptcy and Debt Payment Delays in which the position of separatist creditors takes precedence over other creditors, and is a separation of creditors' rights, is the author's interpretation of the above discussion, so hereby the author draws conclusions based on the results of the above discussion. . Separatist creditors have the same rights to liquidate assets in the bankruptcy process as if the debtor is not declared bankrupt. However, there are no firm and fast rules between Article 55 paragraph (1) of Law 37/2004 concerning Bankruptcy and Debt Payment Delays and the Civil Code rules regarding the rights of creditors who decide, which can lead to disputes between creditors who decide and practitioners of bankruptcy. In particular Articles 56 and 59 of Law 37/2004 concerning Bankruptcy and Debt Payment Delays. To avoid the above scenario, the bankruptcy practitioner must ensure that the status of the separatist creditor as a lien holder is adequately protected in the settlement of his claim. The transfer of substantive rights by the curator is considered null and void by law, so the provision of Article 56 paragraph (3) of Law 37/2004 concerning Bankruptcy and Debt Payment Delay in the interpretation section needs to be changed. After the substantive rights expire, the guaranteed creditor will compete directly with other creditors
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Liu, Yongkang. "A Research on Substantive Merger Bankruptcy Rules." Asian Journal of Social Science Studies 7, no. 3 (March 28, 2022): 49. http://dx.doi.org/10.20849/ajsss.v7i3.1036.
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The emergence of related enterprises is the inevitable outcome of the rapid development of market economy. The independence of law and the closeness of economy make the bankruptcy of affiliated enterprises more complicated than that of ordinary enterprises. The establishment of the substantive merger bankruptcy rule is to deal with the special situation of the bankruptcy of the affiliated enterprises, through the substantive merger of the properties of the affiliated enterprises, the creditors will pay off the merged property in proportion, so as to protect the interests of the creditors. In view of the current legislation and judicial interpretation of China has not established the substantive consolidated bankruptcy rules, this paper analyzes the value of the substantive consolidated bankruptcy rules and the problems in judicial practice on the basis of clarifying the relevant concepts and puts forward some legislative suggestions for the application of the rules and the initiation of procedures.
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Boehmer, Niclas, Robert Bredereck, and Dominik Peters. "Rank Aggregation Using Scoring Rules." Proceedings of the AAAI Conference on Artificial Intelligence 37, no. 5 (June 26, 2023): 5515–23. http://dx.doi.org/10.1609/aaai.v37i5.25685.
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To aggregate rankings into a social ranking, one can use scoring systems such as Plurality, Veto, and Borda. We distinguish three types of methods: ranking by score, ranking by repeatedly choosing a winner that we delete and rank at the top, and ranking by repeatedly choosing a loser that we delete and rank at the bottom. The latter method captures the frequently studied voting rules Single Transferable Vote (aka Instant Runoff Voting), Coombs, and Baldwin. In an experimental analysis, we show that the three types of methods produce different rankings in practice. We also provide evidence that sequentially selecting winners is most suitable to detect the "true" ranking of candidates. For different rules in our classes, we then study the (parameterized) computational complexity of deciding in which positions a given candidate can appear in the chosen ranking. As part of our analysis, we also consider the Winner Determination problem for STV, Coombs, and Baldwin and determine their complexity when there are few voters or candidates.
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Li, Yixin. "Creditor Protection Mechanism of Debtor's Fraudulent Transfer: Comparing Current Legislation of China and the United States." Lecture Notes in Education Psychology and Public Media 10, no. 1 (September 14, 2023): 307–13. http://dx.doi.org/10.54254/2753-7048/10/20230338.
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Fraudulent transfer behavior refers to the act of a debtor, in order to evade debt, obstructing or delaying the creditor's realization of their creditor's rights by transferring their own property or establishing a right burden on the property. This concept is originated from the Anglo-American legal system, but similar concepts can also be found in Chinese law system. The fundamental reason why fraudulent transfer behavior needs to be regulated is that it violates the debtor's moral obligations of integrity and fairness towards creditors. Based on a comparative analysis of existing rules in China and the United States from the exercise of the right of avoidance to determination that the assignment is invalid, this article proposes a possible approach to fraudulent transfer rules in China in mainly three aspects: improving the definition of fraudulent transfer, providing creditors with more adequate remedies, and adjusting the burden of proof for creditors to exercise avoidance rights.
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Berend, Daniel, Yuri Chernyavsky, and Luba Sapir. "Ranking of Weighted Majority Rules." Journal of Applied Probability 45, no. 4 (December 2008): 994–1006. http://dx.doi.org/10.1239/jap/1231340229.
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A decision-making body may utilize a wide variety of different strategies when required to make a collective decision. In principle, we would like to use the most effective decision rule, that is, the rule yielding the highest probability of making the correct decision. However, in reality we often have to choose a decision rule out of some restricted family of rules. Therefore, it is important to be able to rank various families of rules. In this paper we consider three classes of decision rules: (i) balanced expert rules, (ii) the so-called single expert rules, and (iii) restricted majority rules. For the first two classes, we show that, as we deviate from the best rule in the family, the effectiveness of the decision rule decreases. For the last class, we obtain a very different phenomenon: any inner ranking is possible.
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Berend, Daniel, Yuri Chernyavsky, and Luba Sapir. "Ranking of Weighted Majority Rules." Journal of Applied Probability 45, no. 04 (December 2008): 994–1006. http://dx.doi.org/10.1017/s0021900200004939.
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A decision-making body may utilize a wide variety of different strategies when required to make a collective decision. In principle, we would like to use the most effective decision rule, that is, the rule yielding the highest probability of making the correct decision. However, in reality we often have to choose a decision rule out of some restricted family of rules. Therefore, it is important to be able to rank various families of rules. In this paper we consider three classes of decision rules: (i) balanced expert rules, (ii) the so-called single expert rules, and (iii) restricted majority rules. For the first two classes, we show that, as we deviate from the best rule in the family, the effectiveness of the decision rule decreases. For the last class, we obtain a very different phenomenon: any inner ranking is possible.
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Gu, Guang Shu. "Research of Legislation and Practice for Piercing the Corporate Veil under New Companies Act in China." Advanced Materials Research 488-489 (March 2012): 1243–47. http://dx.doi.org/10.4028/www.scientific.net/amr.488-489.1243.
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Pierce the corporate veil rules together with the company's independent personality constitutes a complete, rigorous corporate system. Pierce the corporate veil rules as part of a corporate system, and improve its position in the supplement, which is the balance between corporate interests of shareholders and creditors of the company's results. Pierce the corporate veil rules apply to particular legal relationship, it is by denying the company's independent personality behind the company investigated for abuse of corporate personality and limited liability of shareholders independent of the liability of shareholders. Make up the deficiencies inherent in the corporate system to protect the legitimate interests of creditors of the company. Pierce the corporate veil in order to achieve the value of the rules of fairness and justice, our country should be based on the theory from abroad. With China's judicial practice, judicial interpretation and give full play to the role of a typical case, a reasonable allocation of the burden of proof. Prudential rules applicable to pierce the corporate veil and do advance prevention. Try to avoid piercing the corporate veil applies the rules to further improve the new company law in China under the rule of piercing the corporate veil.
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Vukotić, Miloš. "A comparative perspective on the liability of heirs." Anali Pravnog fakulteta u Beogradu 72, no. 1 (March 26, 2024): 47–70. http://dx.doi.org/10.51204/anali_pfbu_24103a.
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Settlement of deceased’s debts is one of the fundamental questions of succession. The liability of heirs for these debts is very difficult to regulate because of the need to balance several conflicting interests: the interests of heirs, the interests of estate creditors and the interests of heirs’ personal creditors. Legal systems may attempt a simple, but rigid approach to heirs’ liability or provide detailed and flexible, but complex rules on different scopes of liability in different situations. This article discusses the main approaches to liability of heirs for estate debts and provides a critical analysis of their advantages and disadvantages. The author concludes that complex and flexible rules on liability of heirs may ultimately lead to more just distribution of estate assets.
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Sunarmi, Sunarmi, Detania Sukarja, and Tri Murti Lubis. "The Standings of Tax Receivables in Bankruptcy Cases : A Study on Managing and Settling Assets." Syiah Kuala Law Journal 5, no. 3 (December 31, 2021): 329–44. http://dx.doi.org/10.24815/sklj.v5i3.23347.
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The state's privilege right to tax receivables in bankruptcy cases is regulated differently under various laws and court decisions in Indonesia. In general, tax receivables in bankruptcy have privilege position over other creditors, including secured creditors such as banks, mortgage holders, fiduciary guarantees and finance companies, preferential creditors and concurrent creditors. The creditor’s tax debt to the state should be paid first before any payment to other creditors. However, the Director General of Tax under the Ministry of Finance of the Republic of Indonesia often faces problems in claiming the payment as the Ministry claims for the payment are always rejected by the Court. Each of the existing legal rules and decisions provides different answers to this problem, resulting in legal uncertainties. This research is conducted using the normative juridical approach and supported by the empirical analysis. The data collection is conducted by document studies and supported by court decisions. This research aims to inquire and analyse the position of tax receivables in the distribution of bankruptcy estate of debtors among other creditors, the role of the curators, both state and private curators, in the bankruptcy estate distribution in order to find a legal solution to the aforementioned issue according to the normative legal provisions that apply.
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Cojocaru, Cristina. "Recovery of the prejudice caused by an insolvent company." Proceedings of the International Conference on Business Excellence 15, no. 1 (December 1, 2021): 903–7. http://dx.doi.org/10.2478/picbe-2021-0083.
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Abstract A recent decision of the Romanian High Court of Justice dated 6 March 2019 offers the possibility to analyse the recovery of the prejudice caused to a creditor by a company under court proceedings after on its insolvency. The applicable regulations (i.e. Law no. 85/2015) represent the legal framework, which aims at debt payment by the insolvent debtor to his creditors. Therefore, the procedure is collective and all the known creditors are involved. Consequently, the law regulates the means and the conditions of this procedure. The prejudice caused to a creditor by the insolvent company shall be recovered following the rules of the special law and not through the general applicable rules, i.e. the Civil Code. The article aims to identify the relevant theoretical aspects and their applicability in practice by the courts of law.
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Hidayati, Nuri, Iwan Permadi, and Budi Santoso. "Kewenangan Kreditur dalam Menjual Obyek Jaminan Tanah dan Bangunan Letter C tanpa Melalu Lelang." Jurnal Ilmiah Pendidikan Pancasila dan Kewarganegaraan 4, no. 2 (January 6, 2020): 291. http://dx.doi.org/10.17977/um019v4i2p291-299.
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The purpose of this study is to describe the authority of creditors to direct sell warranty objects in the form of land and building Letter C without passing the auction. This study uses normative juridical research methods that study and analyze the application of rules, acts, positive legal norms contained in legislation, jurisprudence, and contracts. This study uses a statutory approach, a conceptual approach, and a case approach. The results show that creditors are authorized to sell warranty objects in the form of land and Letter C buildings without auctions but through underhand sales.
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Ricketts, Glenn M. "The Ranking Racket." Academic Questions 35, no. 3 (October 24, 2022): 116–21. http://dx.doi.org/10.51845/35.3.21.
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Matić-Matešković, Ines. "The presence of Roman legal tradition in the instruments of debt insurance of the Cres-Osor Statute." Zbornik radova Pravnog fakulteta Nis 63, no. 102 (2024): 179–94. http://dx.doi.org/10.5937/zrpfn1-51257.
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In this paper, the author analyzes legal institutes aimed at securing creditors' claims and the position of debtors and creditors in the Cres-Osor Statute in case of the debtor's failure to repay the debt. The Cres-Osor Statute pays particular attention to the pledge right and, in various ways, regulates the rules regarding the establishment of pledges on movable and immovable property, as well as the sale of pledged items and the settlement of creditors from their value. The paper provides an overview of the legal regulation of these institutes and their specific features and, based on the conducted analysis, critically evaluates the genesis of these institutes and the influence of Roman legal tradition on the development of securing claims in the legal provisions of the Cres-Osor Statute.
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Yang, S. Alex, and John R. Birge. "Trade Credit in Supply Chains: Multiple Creditors and Priority Rules." Foundations and Trends® in Technology, Information and Operations Management 14, no. 1–2 (2020): 5–22. http://dx.doi.org/10.1561/0200000096-1.
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Palukha, U. Y., M. A. Prokharchyk, and Yu S. Kharin. "On modeling random data to evaluate the performance of statistical tests in cryptography." Informatics 21, no. 4 (December 30, 2024): 37–45. https://doi.org/10.37661/1816-0301-2024-21-4-37-45.
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Objectives. Financial networks with a rule of constrained equal awards for the distribution of the agent’s estate between its creditors are considered. The aim of the study is to develop an algorithm for constructing greatest clearing matrices for such networks under zero cash reserves of all agents.Methods. Graph theory and mathematical programming methods are used.Results. A polynomial-time algorithm for constructing the greatest clearing matrices for financial networks with a rule of constrained equal awards for the distribution of the agent's estate between its creditors is proposed. It is assumed that the cash reserves of each agent are equal to zero (funds received from other agents are distributed among creditors). The algorithm is based on the use of the identified properties of weighted strongly connected graphs. Necessary and sufficient conditions are obtained under which the greatest clearing matrix is different from zero at zero cash reserves of agents'.Conclusion. The developed approach can be used in constructing clearing algorithms for financial networks with other rules for distributing the agent’s estate between its creditors.
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Shafransky, Ya M. "Clearing in financial networks with constrained equal awards." Informatics 21, no. 4 (December 30, 2024): 24–36. https://doi.org/10.37661/1816-0301-2024-21-4-24-36.
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Objectives. Financial networks with a rule of constrained equal awards for the distribution of the agent’s estate between its creditors are considered. The aim of the study is to develop an algorithm for constructing greatest clearing matrices for such networks under zero cash reserves of all agents.Methods. Graph theory and mathematical programming methods are used.Results. A polynomial-time algorithm for constructing the greatest clearing matrices for financial networks with a rule of constrained equal awards for the distribution of the agent's estate between its creditors is proposed. It is assumed that the cash reserves of each agent are equal to zero (funds received from other agents are distributed among creditors). The algorithm is based on the use of the identified properties of weighted strongly connected graphs. Necessary and sufficient conditions are obtained under which the greatest clearing matrix is different from zero at zero cash reserves of agents'.Conclusion. The developed approach can be used in constructing clearing algorithms for financial networks with other rules for distributing the agent’s estate between its creditors.
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Laptev, Vasiliy A. "Subsidiary liability of controlling persons for obligations of a company excluded from the Unified State Register of Legal Entities." RUDN Journal of Law 28, no. 1 (March 15, 2024): 163–77. http://dx.doi.org/10.22363/2313-2337-2024-28-1-163-177.
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The paper examines the issues of bringing controlling persons to subsidiary liability for the obligations of a company excluded from the Unified State Register of Legal Entities. The article determines the judicial procedure for holding controlling persons accountable for claims of creditors. It analyzes the provisions of Russian legislation and judicial practice regarding the grounds for prosecution under paragraph 3.1 Article 3 of the Law on Limited Liability Companies.The research reveals the effect of this rule of law over time and it essence, which excludes the use of the construction of limited liability of participants in a business company. An overview of the legal positions of the Constitutional Court of the Russian Federation on the issues under consideration including the circle of responsible persons, distribution of burden and circumstances of evidence is provided. The paper distinguishes characteristics of good faith and reasonable behavior of creditors and controlling persons as well as legal presumptions corresponding to the circumstance of the case. The conclusion is formulated on the recognition of subsidiary liability by inheritance of debts of a corporate organization. The paper investigates the competence of the court considering disputes on bringing to subsidiary liability of persons controlling a corporation and distinguishes between the corporate (under the general rules of litigation) and bankruptcy (under the rules of class action) proceedings. The characteristics of the powers of creditors acting in the interests of their civil law community are given. The research allows to ensure uniformity of judicial practice at interpreting the applicable rules of law.
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Mesfin Beyene. "Regulation of Group of Companies in Ethiopia: A Comparative Overview." Mizan Law Review 17, no. 1 (October 20, 2023): 197–230. http://dx.doi.org/10.4314/mlr.v17i1.7.
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Companies that are organized in a group aim at leveraging the market share, mitigate liability or facilitate long-term management efficiency. The reasons that make group establishment attractive for the parent company can be a basis for concern to other stakeholders, mainly, minority shareholders and creditors of the subsidiary company. The strict application of separate existence of a company and directors’ fiduciary duties towards their companies –applicable in cases of single entity companies– may be difficult in the case of group companies. States, therefore, devise regulatory mechanisms to protect the subsidiary company and its minority shareholders and creditors while at the same time protecting corporate freedom and entrepreneurial reality. Ethiopia has introduced regulatory rules regarding group company (Parent-Subsidiary Company). The objective of this article is to discuss the nature and regulation of Group Company as specified under the new commercial code and in comparison, with other countries’ laws. The article argues that the rules stipulated are not designed to adequately protect the interests of the subsidiary and its stakeholders. It also argues that the liberal interpretation of the provisions governing group companies to include the application of rules governing single company can contribute to potential protection rules missing under the sections in the group company.
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Čolović, Vladimir. "Status of foreign creditors in secondary bankruptcy proceedings." Pravo i privreda 60, no. 1 (March 30, 2022): 62–79. http://dx.doi.org/10.55836/pip_22103a.
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The status of foreign creditors in international bankruptcy, i.e., bankruptcy proceedings with foreign element, depends on the manner in which this matter is regulated in particular country. We distinguish between main and secondary bankruptcy proceedings in which creditors can file their claims. In the countries that regulate the initiation of both main and secondary bankruptcy proceedings, creditors have equal status, which means that foreign creditors are equal to local creditors in secondary bankruptcy proceedings. By foreign creditors in secondary bankruptcy proceedings, we mean creditors who do not have the citizenship of the country in which the respective secondary bankruptcy proceedings have been initiated. These may be persons who have already filed a claim in the main bankruptcy proceedings, as well as in other secondary bankruptcy proceedings. We must keep in mind that the secondary proceedings are initiated in order to contribute to the fulfilment of the principle of unity of the bankruptcy estate, as well as the efficiency of settling creditors’ claims. In any case, the secondary proceedings enable the assets of the bankruptcy debtor or most of them to be part of the bankruptcy estate. In addition, the transfer of excess assets of the bankruptcy estate from the secondary to the main proceedings allows creditors to be settled efficiently. In order for foreign creditors to be able to exercise their rights in the secondary bankruptcy proceedings, it is necessary for the competent authorities from different bankruptcy proceedings against the same debtor to cooperate. This especially refers to the cooperation of the bankruptcy trustee appointed in the main bankruptcy proceedings with the competent authorities in the country of initiating the secondary bankruptcy proceedings. The paper pays attention to Regulation (EU) 848/2015 on insolvency proceedings, as well as the provisions of the Act of Bankruptcy of the Republic of Serbia that regulate this matter. In order to define the status of foreign creditors, it is necessary to determine the status of a foreign bankruptcy decision, as well as the status of a foreign bankruptcy trustee. Attention is also paid to situations when secondary bankruptcy proceedings are not initiated, which is regulated by Regulation 848/2015. The decision on that is made by the bankruptcy trustee who was appointed in the main bankruptcy proceedings, and he must then give a guarantee to the local creditors that their claims will be settled. In order to talk about the equal status of creditors, care must be taken to adequately apply the two basic rules in international bankruptcy, namely lex fori and lex fori concursus. This will ensure even settlement of all claims of all creditors.
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Mantili, Rai. "ACTIO PAULIANA SEBAGAI UPAYA PERLINDUNGAN BAGI KREDITOR MENURUT KITAB UNDANG-UNDANG HUKUM PERDATA DAN UNDANG-UNDANG KEPAILITAN DAN PENUNDAAN KEWAJIBAN PEMBAYARAN UTANG (PKPU)." ADHAPER: Jurnal Hukum Acara Perdata 6, no. 2 (March 8, 2021): 21. http://dx.doi.org/10.36913/jhaper.v6i2.127.
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Actio Pauliana is the right given to a creditor to cancel the debtor’s agreement with a third party. The purpose of this actio pauliana is to avoid losses from its creditors, by requesting the court to cancel the debtor’s legal action which is deemed to be detrimental to his creditors. Actio Pauliana provisions apart from being regulated in the Civil Code, are also regulated in Law No. 37 of 2004 concerning Bankruptcy and Suspension of Debt Repayment Obligation (UUKPKPU). However, the two rules have several diff erences. In this paper, the author wants to explain about Actio Pauliana which is regulated in the Civil Code and Actio Pauliana which is regulated in UUKPKPU in order to provide protection for creditors. This writing gives the result that Actio Pauliana’s lawsuit which is regulated in the Civil Code is submitted to the District Court and cannot be justifi ed and can take a long time. Unlike the case with Actio Pauliana which is regulated in the UUPKPU, the fi ling of a lawsuit is made to the Commercial Court and can be proven simply so that it can provide more protection for creditors.
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Saija, Ronald, Iming Maknaan Tesalonika, and Herman Bakir. "Implikasi Ambiguitas Kreditur Separatis Dan Kurator Dalam Pembagian Boedel Debitor Pailit Menurut Perspektif Philosophy." PATTIMURA Legal Journal 3, no. 2 (August 31, 2024): 97–115. https://doi.org/10.47268/pela.v3i2.15556.
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Introduction: Completing debt and receivables agreements with serious material security objects between creditors and debtors through the Bankruptcy route. Bankruptcy as a form of dispute resolution regulated in Articles 749-910 of Wetboek van Koophandel which has been codified through Law Number 37 of 2004 concerning Bankruptcy and Postponement of Debt Payment Obligations. Purposes of the Research: To find legal rules that specifically regulate the Ambiguity Implications of Separatist Creditors and Curators in Boedel, Debtors Bankruptcy. Methods of the Research: The method used in this writing is an extensive interpetation method to try to find a law in the future (ius constituendum) because there is still no legal rule that specifically regulates the Ambiguity Implications of Separatist Creditors and Curators in Boedel Debtors Bankruptcy. Then we also use a systematic interpretation method because in this study the author tries to relate several laws and regulations in Indonesia. Results Originality of the Research: The bankruptcy study is inseparable from the collateral by the debtor who has experienced business bankruptcy, which has given an advantage to separatist creditors and curators in executing the collateral before it is further studied by the Government through the Curator. In fact, through its superior nature, the settlement of receivables by separatist creditors is quite ambigiutive and comprehensive and fast without having to apply for bankruptcy of the previous debtor.
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Denisov, Anton, Stanislav Odintsov, and Leonid Khmelnitski. "Subordination of non-arm’s length creditors’ claims: at a crossroads." SHS Web of Conferences 128 (2021): 06007. http://dx.doi.org/10.1051/shsconf/202112806007.
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In several European countries and the US, corporate and insolvency law principles allow the courts to subordinate the claims of non-arm’s length creditors (i.e., affiliates, shareholders, controlling persons, officers, etc.) of an insolvent entity. However, there is no universal approach across the above jurisdictions. Instead, the scholars observe a whole range of subordination regimes. Each of them derives from a unique and unsteady balance between the interests and values protected by law. This paper examines the Russian subordination rules and their evolution and discusses the values and incentives behind the subordination of non-arm’s length creditors claims in search for an optimal approach.
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Abdel Hadi Etim, Zubaida. "DECLARING THE BANKRUPTCY OF THE DECEASED IN ARAB LAWS." International Journal of Advanced Research 12, no. 01 (January 31, 2024): 1309–13. http://dx.doi.org/10.21474/ijar01/18254.
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A bankruptcy lawsuit is a procedural lawsuit to prove that a merchant has stopped paying a commercial debt due to a disturbance in his financial position, which exposes his creditors to danger, and to seize all his money in preparation for selling it to pay off the creditors debts. Therefore, it has economic and social effects. However, it guarantees the rights of creditors, even if the original is to declare the bankruptcy of the merchant who is unable to pay his debts. However, the question is: Is it permissible to file a bankruptcy lawsuit against the bankrupt merchant who is dead? Therefore, this study aimed to identify the legal procedures for declaring a deceased merchant bankrupt in Arab legislation. The study used the comparative descriptive analytical approach by tracking and analyzing the rules for declaring a dead merchant bankrupt. The most important recommendation is the necessity of presenting the judicial precedents related to the subject of the study to benefit from them.
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Idoudi, Rihab, Karim Saheb Ettabaa, Basel Solaiman, and Kamel Hamrouni. "Ontology Knowledge Mining Based Association Rules Ranking." Procedia Computer Science 96 (2016): 345–54. http://dx.doi.org/10.1016/j.procs.2016.08.147.
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Lupi, Marino, Alessandro Farina, Antonio Pratelli, and Alessandra Gazzarri. "Application of classification rules to Italian ports." PROMET - Traffic&Transportation 26, no. 4 (August 20, 2014): 345–54. http://dx.doi.org/10.7307/ptt.v26i4.1434.
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In this paper, the existing rules commonly used for port traffic comparison are described. These rules provide weighting factors for each freight category in order to make them comparable and exploitable for port ranking. These rules are based on the value added concept related to port activities. Two new rules are proposed. The first is again based on the value added concept. The second rule is based on the assumption that ports not only create labour directly, through activities related to port operations, but they also play the role of “gates” for the existing economic activities of a region or a country, as a consistent quota of the overall international trade takes place by sea. This rule is based on the relationship among the trend of traffic volume of each freight category and the trend of the national GDP. The rules existing in the literature and the proposed new rules have been applied in ranking Italian ports; the results are discussed. The sensitivity of the ranking of Italian ports, to the different weighting rules, has been analysed.
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KOZLOVA, Viktoriia, Liudmyla HALUSHKO, and Diana RUDENKO. "Limitation of claims for creditors: causes and general rules of calculation." Economics. Finances. Law 4, no. - (April 27, 2023): 73–76. http://dx.doi.org/10.37634/efp.2023.4.16.
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The paper is devoted to topical issues of the occurrence of accounts payable, its reflection in accounting and the procedure for calculating the statute of limitations for accounts payable. The researched topic is very relevant, because missing the statute of limitations can lead to dissatisfaction with the claim and the ability of the company to fulfill its obligations. The paper analyzes the normative-legislative base, on the basis of which the concept of statute of limitations, statute of limitations, types of statute of limitations is defined. In order to find out the statute of limitations in accounting, the forms of current payables were examined. Limitation periods were also established for each form of current payables. We found out that the statute of limitations also applies to labor disputes. It should be noted that Article 233 of the Labor Code of Ukraine establishes the statute of limitations for an employee's claim against the enterprise. It was investigated that according to the norms of the current legislation, not only the employee, but also the employer also has the right to apply to the court for recovery from the employee to maintain the material damage caused by the employee to the business entity. During the analysis of the Ukrainian legislature, it was found that the statute of limitations also applies to administrative legal relations. We have established that the Tax Code of Ukraine due to the expiration of the statute of limitations, the creditor debt can be considered bad debt. However, due to the fact that Ukraine currently has double restrictions on the expiry of the statute of limitations, these terms are being extended.
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Wang, Jian-Qiang, Su-Min Yu, Jing Wang, Qing-Hui Chen, Hong-Yu Zhang, and Xiao-Hong Chen. "An Interval Type-2 Fuzzy Number Based Approach for Multi-Criteria Group Decision-Making Problems." International Journal of Uncertainty, Fuzziness and Knowledge-Based Systems 23, no. 04 (August 2015): 565–88. http://dx.doi.org/10.1142/s0218488515500257.
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In this paper, a new approach is presented for solving multi-criteria group decision-making (MCGDM) problems, which is based on new arithmetic operations and the ranking rules of trapezoidal interval type-2 fuzzy numbers (IT2FNs). Firstly, the shortcomings of some existing arithmetic operations of trapezoidal IT2FNs are discussed along with their ranking methods, before some new arithmetic operations and ranking rules are proposed. Secondly, some new aggregation operators including the arithmetic averaging aggregation operator, the ordered weighted averaging aggregation operator and the hybrid weighted averaging aggregation operator for trapezoidal IT2FNs are also developed. Thirdly, a new approach for MCGDM problems is developed based on the proposed operators and ranking rules. Finally, an example is provided to illustrate the feasibility and validity of this new approach, and a comparison analysis referring to the same example is also presented.
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Becker, Bo, and Victoria Ivashina. "Weak Corporate Insolvency Rules: The Missing Driver of Zombie Lending." AEA Papers and Proceedings 112 (May 1, 2022): 516–20. http://dx.doi.org/10.1257/pandp.20221078.
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“Zombie lending”--lending to less-productive firms at subsidized rates--can help banks with misaligned incentives in the short run, but it prolongs economic downturns. We propose that inefficient resolution of insolvency is a significant contributor to this problem. We exploit variation in the efficiency of insolvency across countries to show that lack of formal bankruptcies, cheap (zombie) credit, and stickiness of existing creditors is more common in bad economic periods when insolvency works less well.
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Usmaina, Siti Putri Nera, and Rani Apriani. "Perlindungan Hukum Bagi Pihak Kreditur dalam Perjanjian Jaminan Fidusia." Wajah Hukum 6, no. 1 (May 1, 2022): 98. http://dx.doi.org/10.33087/wjh.v6i1.731.
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Weak legal protection for creditors in fiduciary guarantee agreements, even though guarantees have a very important role in economic activity in providing capital loans from financial institutions, both banks and non-banks in which there are long-term and short-term guarantees which are a form of protection. law in an agreement that can provide a sense of security, comfort for individuals. This study aims to determine legal protection for creditors in fiduciary guarantees in order to create legal certainty by using data collection methods based on laws which are normatively tested by applying existing values or rules given by law enforcement officials for the sake of the achievement of public order which includes elements of protective actions and ways of protecting. And the purpose of the methodology in this paper is to provide data about the situation which can later be analyzed in accordance with existing laws and regulations. For this reason, legal protection for creditors in a fiduciary agreement is born on the registration of the agreement deed. UUJF has tried to provide technical protection for creditors, but it is not implemented explicitly in its implementation system so that the protection is still considered weak because it is not balanced with firmness in the execution of fiduciary guarantees.
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Joksović, Jovana. "GmbH and UG (Mini-GmbH): Protection of creditors in German law." Pravo i privreda 58, no. 4 (2020): 134–48. http://dx.doi.org/10.5937/pip2004134j.
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One of the most widespread forms of companies, not only in our, but also in other jurisdictions, are limited liability companies. This form gives clear advantages to its founders, but at the same time endangers the creditor's settlement. In this paper, the author lists and describes the ways of protecting the company's creditors in the German law, namely the creditors of GmbH and the newer UG (Mini-GmbH) with brief reviews of Serbian law and d.o.o. First of all, there is a possible liability of shareholders and directors of German companies in the very stage of establishment. Furthermore, payments to shareholders from the assets that are necessary to cover the share capital are prohibited. In addition to its legal minimum share capital of EUR 25.000, GmbH contains further institutes for adequate creditor protection, which makes it attractive not only to the founders, but also to its creditors. In 2008, with the Law on Modernization of the Rights of Limited Liability Companies and the Fight against Abuses (MoMiG), the German legal system introduced a new legal form of simplified GmbH (UG), which has the same nature with a few special characteristics. This is primarily the possibility of founding a company below the prescribed legal minimum of the share capital, namely 1 Euro. This legal form should be an alternative to the English "Limited", which was "flooding" the German market back then. This advantage brings certain restrictions, first of all in terms of capital maintenance rules. Due to the fact that d.o.o. has significant similarities with the general rules that apply to these legal forms of the German system, primarily due to similarities with UG in the form of a minimum share capital of 100 dinars, the characteristics and solutions of German law for the protection of creditors of this legal form will be analysed. At the end comes a brief review of the institute "piercing a corporate veil" in the German law system.
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Roelofs, Erwin R., and Gerco C. van Eck. "Ranking the Rules Applicable to Cross-Border Mergers." European Company Law 8, Issue 1 (February 1, 2011): 17–22. http://dx.doi.org/10.54648/eucl2011003.
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Since the implementation of the Tenth directive on cross-border mergers (CBMs) in the national laws of the Member States of the European Union, a clear statutory framework for cross-border legal mergers of limited liability companies exists which underlies the laws of different Member States of the EU. However, when implementing a cross-border legal merger, specific problems may arise in legal practice due to the principle of the cumulative application of the national merger laws and procedures governing the parties to the CBM.
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Stańczyk, Urszula. "Selection of decision rules based on attribute ranking." Journal of Intelligent & Fuzzy Systems 29, no. 2 (October 5, 2015): 899–915. http://dx.doi.org/10.3233/ifs-151620.
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Berend, Daniel, and Yuri Chernyavsky. "Ranking of decision rules with random power distribution." Mathematical and Computer Modelling 48, no. 9-10 (November 2008): 1326–34. http://dx.doi.org/10.1016/j.mcm.2008.05.032.
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Bansal, Naveen K., Neeraj Misra, and Edward C. van der Meulen. "On the minimax decision rules in ranking problems." Statistics & Probability Letters 34, no. 2 (June 1997): 179–86. http://dx.doi.org/10.1016/s0167-7152(96)00180-0.
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Ross, J. V., and P. K. Pollett. "Simple rules for ranking and optimally managing metapopulations." Ecological Modelling 221, no. 21 (October 2010): 2515–20. http://dx.doi.org/10.1016/j.ecolmodel.2010.02.016.
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Lin, Chen, Xiaolin Shen, Si Chen, Muhua Zhu, and Yanghua Xiao. "Non-Compensatory Psychological Models for Recommender Systems." Proceedings of the AAAI Conference on Artificial Intelligence 33 (July 17, 2019): 4304–11. http://dx.doi.org/10.1609/aaai.v33i01.33014304.
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The study of consumer psychology reveals two categories of consumption decision procedures: compensatory rules and non-compensatory rules. Existing recommendation models which are based on latent factor models assume the consumers follow the compensatory rules, i.e. they evaluate an item over multiple aspects and compute a weighted or/and summated score which is used to derive the rating or ranking of the item. However, it has been shown in the literature of consumer behavior that, consumers adopt non-compensatory rules more often than compensatory rules. Our main contribution in this paper is to study the unexplored area of utilizing non-compensatory rules in recommendation models.Our general assumptions are (1) there are K universal hidden aspects. In each evaluation session, only one aspect is chosen as the prominent aspect according to user preference. (2) Evaluations over prominent and non-prominent aspects are non-compensatory. Evaluation is mainly based on item performance on the prominent aspect. For non-prominent aspects the user sets a minimal acceptable threshold. We give a conceptual model for these general assumptions. We show how this conceptual model can be realized in both pointwise rating prediction models and pair-wise ranking prediction models. Experiments on real-world data sets validate that adopting non-compensatory rules improves recommendation performance for both rating and ranking models.
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Żabiński, Krzysztof, and Beata Zielosko. "Improved EAV-Based Algorithm for Decision Rules Construction." Entropy 25, no. 1 (January 2, 2023): 91. http://dx.doi.org/10.3390/e25010091.
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In this article, we present a modification of the algorithm based on EAV (entity–attribute–value) model, for induction of decision rules, utilizing novel approach for attribute ranking. The selection of attributes used as premises of decision rules, is an important stage of the process of rules induction. In the presented approach, this task is realized using ranking of attributes based on standard deviation of attributes’ values per decision classes, which is considered as a distinguishability level. The presented approach allows to work not only with numerical values of attributes but also with categorical ones. For this purpose, an additional step of data transformation into a matrix format has been proposed. It allows to transform data table into a binary one with proper equivalents of categorical values of attributes and ensures independence of the influence of the attribute selection function from the data type of variables. The motivation for the proposed method is the development of an algorithm which allows to construct rules close to optimal ones in terms of length, while maintaining enough good classification quality. The experiments presented in the paper have been performed on data sets from UCI ML Repository, comparing results of the proposed approach with three selected greedy heuristics for induction of decision rules, taking into consideration classification accuracy and length and support of constructed rules. The obtained results show that for the most part of datasests, the average length of rules obtained for 80% of best attributes from the ranking is very close to values obtained for the whole set of attributes. In case of classification accuracy, for 50% of considered datasets, results obtained for 80% of best attributes from the ranking are higher or the same as results obtained for the whole set of attributes.
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He, Yinglai, and Tingxuan Mi. "Legal Effects of the Exercise of Creditors' Right of Subrogation--Annotation on the Interpretation Path of Article 537 of the Chinese Civil Code." Frontiers in Humanities and Social Sciences 4, no. 12 (December 19, 2024): 110–18. https://doi.org/10.54691/s8drb130.
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Since the subrogation system was introduced into China, the legal effect of creditors' exercise of subrogation rights has been a matter of contention, particularly with regard to the interpretation of Article 537 of the Chinese Civil Code. This article analyses the legislative history and judicial practice of subrogation rights in China, as well as the effect of the exercise of subrogation rights from the perspective of comparative law, starting from Article 537 of the Chinese Civil Code. Furthermore, this paper will examine the "rules of warehousing combined with set-off rules", "priority compensation", "restrictive rules of warehousing" and other methods of interpreting the aforementioned irrationality. In conclusion, it was determined that Article 537, Paragraph 1 of the Chinese Civil Code pertains to the "direct compensation rules," while Paragraph 2 pertains to the interpretation of the note provisions.
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Maraš, Ivana, and Vladimir Kozar. "Protection of rights of secured creditors in the bankruptcy debtor assets sales procedure." Ekonomika preduzeca 69, no. 6-7 (2021): 369–84. http://dx.doi.org/10.5937/ekopre2106369m.
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Securing claims by way of real assets such as mortgage or chattel mortgage has great significance for the operation of banks and other economic entities. Opening bankruptcy proceedings over the owner of the real estate under mortgage or movable property under chattel mortgage has a significant impact on the process of exercising rights and the position of secured creditors. Bankruptcy framework in the Republic of Serbia limits their rights on the one hand, and provides extensive guarantees, on the other, by prescribing several specific institutes that additionally protect the rights of secured creditors in the procedures of bankruptcy debtor asset sales, which is the topic of this paper. Provisions of the Law have been analyzed, positions of the judicial practice as well as opinions of the jurisprudence on secured creditors as a special category. Special attention was paid to the impact of the legal prohibition of individual enforcement for the settlement of claims from the assets that are under any burdens as well as the cancellation of moratorium. Significance of the right of the creditor to offset its secured claim against purchase price has been explained in detail in case of the best bidder (credit bidding) as well as the legal preemptive right on the subject of secured right or lien, in case of sales method by direct agreement. Also, rules were considered that condition the possibility of leasing assets under burden of the bankruptcy debtor with the consent of secured creditors.
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Papadopoulos, Thomas. "The New Harmonized Protection of Creditors in Cross-Border Mergers." European Company and Financial Law Review 19, no. 3 (June 1, 2022): 422–44. http://dx.doi.org/10.1515/ecfr-2022-0014.
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Abstract This article scrutinizes the new harmonized regime of creditor protection in cross-border mergers under Art. 126 b of Directive 2019/2121. The risks that creditors face at a cross-border merger revealed the need for harmonization. The previous regime based on old Art. 121(2) of Directive 2017/1132 together with old Art. 121(1)(b) of Directive 2017/1132 referred to national law with regard to the protection of creditors in cross-border mergers, which resulted in legal diversity at EU level. The new harmonized rules are analyzed. More specifically, this article examines creditor protection through the disclosure of the solvency declaration and the common draft terms of the cross-border merger and creditor protection through the possibility of dissatisfied creditors to apply for adequate safeguards. The argument that other national law mechanisms of general company law or civil law are available in parallel with the special harmonized provisions on protection of creditors of Art. 126 b could be underpinned by the application by analogy of the findings of the CJEU in I.G.I. Srl. Various other aspects of creditor protection are examined, such as the notion of creditor and the rebuttable presumption of Art. 126b(3) of the Proposed Directive. Additionally, a few proposals to Member States for the implementation of the new provisions of creditor protection in cross-border mergers are discussed. Some future perspectives on the possibility of full harmonization in this area and a few concluding remarks are inferred.
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Rohaini, Erni, A. Harits Nu’man, Dini Dewi Heniarti, and Neni Ruhaeni. "Potential Mislejk on Authority to Creditors Previously with the Debtor to Apply for the Elimination or Deletion of Mortgage Associated with the Mortgage Law and the Ministerial Regulation on Electronic Mortgage Rights (HT-EL)." International Journal of Science and Society 4, no. 2 (April 6, 2022): 55–66. http://dx.doi.org/10.54783/ijsoc.v4i2.450.
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The purpose of this study was to analyze the potential of Mislejk on the authority to creditors to abolish mortgage rights. The research method in writing this article is normative juridical. Secondary legal sources are used as the main sources in this study which are then processed to identify the main issues in positioning legal rules or norms as the basis for the author's assessment, taking into account some primary and tertiary legal materials. Based on the analysis, it can be concluded that the provisions of Article 22 paragraph (6) of the Mortgage Law as previously described do not have legal certainty. Thus, legal remedies that can be taken by the Customer in resolving Creditors who are reluctant to write off are as follows: Internal Settlement through the Banking Law mechanism, Settlement through Alternative Dispute Resolution, and Settlement through Courts.
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Rahman, Fahrunisah Aulia, Zulkifli Makkawaru, and Kamsilaniah Kamsilaniah. "PERLINDUNGAN HUKUM TERHADAP KREDITUR DALAM PELAKSANAAN EKSEKUSI JAMINAN HAK TANGGUNGAN PADA PT. BANK M (Tbk) MAKASSAR." Indonesian Journal of Legality of Law 5, no. 2 (June 30, 2023): 444–48. http://dx.doi.org/10.35965/ijlf.v5i2.2621.
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Analisis Perlindungan Hukum Terhadap Kreditur Dalam Pelaksanaan Eksekusi Jaminan Hak Tanggungan Pada PT Bank Mega (Tbk) Regional Makassar, Dibimbing oleh Zulkifli Makkawaru dan Hj. Kamsilaniah. Penelitian ini bertujuan untuk mengetahui, mengkaji, dan menginterpretasi, bentuk perlindungan hukum terhadap kreditur dalam pelaksanaan eksekusi objek hak tanggungan dan bentuk penyelesaian atas objek jaminan hak tanggungan dengan menggunakan upaya penjualan di bawah tangan. Penelitian ini merupakan penelitian Normatif Empiris yaitu meneliti aturan Hukum Hak Tanggungan dan pelaksanaannya di dalam masyarakat. Metode pengumpulan data menggunakan teknik wawancara, dokumentasi, dan studi pustaka. Dalam pengambilan sampel hasil wawancara, peneliti mencari dan menggali informasi dari pihak-pihak terkait perlindungan hukum terhadap kreditur dalam pelaksanaan eksekusi hak tanggungan, diantaranya pihak perbankan. Sebagai kreditur dan pihak debitur. Perlindungan hukum terhadap kreditur dalam pelaksanaan eksekusi objek hak tanggungan dapat diketahui dari dua perlindungan hukum preventif dan refresif. Penyelesaian atas objek jaminan hak tanggungan dengan menggunakan upaya penjualan di bawah tangan secara litigasi dan nonlitigasi. Analysis of Legal Protection for Creditors in Implementing Mortgage Guarantees at PT Bank Mega (Tbk) Makassar Region, Supervised by Zulkifli Makkawaru and Hj. Kamsilaniah. This study aims to identify, examine, and interpret forms of legal protection for creditors in executing mortgage objects and forms of settlement of mortgage objects by using private sales. This empirical normative research studies the rules of Mortgage Law and its application in society. Methods of data collection using interview techniques, documentation, and literature study. In taking samples from the interviews, the researcher seeks and collects information from parties related to legal protection for creditors exercising mortgage rights, including the banking sector, as creditors and debtors. Legal protection for creditors in executing mortgage objects can be seen from two preventive and repressive legal protections. Settlement of collateral objects of mortgage rights by using individual selling businesses through litigation and non-litigation.