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Model of legal protection for aircraft property guarantee in Indonesia

Author

Listed:
  • Putri P. R. Marditia

    (Faculty of Law, Atma Jaya Catholic University, Jakarta, Indonesia)

  • Hans Sebastian Adiwinata

    (Faculty of Law, Atma Jaya Catholic University, Jakarta, Indonesia)

Abstract

Airplanes are legal objects of high economic value (high valuable assets) so that airplanes can be used as assets to guarantee the risk of debt agreements. The regulatory provisions related to guarantees for aircraft are based on the provisions of Law Number 15 of 1992 concerning Aviation which stipulates that aircraft can be used as collateral through a mortgage guarantee institution, but in its development, the regulation was replaced by Law Number 1 of 2009 concerning Aviation, which in its latest arrangement eliminates the ability of aircraft to be subject to collateral. This condition creates a legal vacuum because it does not provide alternative settlements and adjustments to aircraft that have been and will become objects of guarantee. So based on these conditions, it is necessary to have a regulatory model that can be used as a reference in the formulation of regulations related to the continuation of aircraft as an object of guarantee. The regulatory model referred to in this paper is in the form of formulating a regulatory pattern that provides a comprehensive overview of the Guarantee Institution, Implementation Mechanism, Guarantee Execution Mechanism, and Guarantee Implementation Authority that adapts to the regulatory system in Indonesia. To describe the regulatory model, the research method used is a normative juridical method based on a statutory and conceptual approach. With the aim of being able to comprehensively present a form of a continuous pattern of arrangements that will form a protection system for creditors by focusing on the Guarantee Institution, the guarantee implementation mechanism, the guarantee execution mechanism, and the Guarantee Implementing Authority for aircraft. Key Words:Regulatory Model, Legal Protection, Aircraft, Material Guarantee

Suggested Citation

  • Putri P. R. Marditia & Hans Sebastian Adiwinata, 2022. "Model of legal protection for aircraft property guarantee in Indonesia," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 11(1), pages 68-75, January.
    • Handle: RePEc:rbs:ijbrss:v:11:y:2022:i:1:p:68-75
    DOI: 10.20525/ijrbs.v11i1.1602
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