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Maintaining Global Economic Sustainability: Bankruptcy as Settlement Legal Remedies Accounts Receivable Due to the Covid-19 Pandemic

In: Proceedings of the 1st Brawijaya International Conference on Business and Law (BICoBL 2022)

Author

Listed:
  • Idho Sedeur Nalle

    (University of Brawijaya, Law Doctoral Program, Faculty of Law)

  • Abdul Rachmad Boediono

    (University of Brawijaya, Law Doctoral Program, Faculty of Law)

  • Setyo Widagdo

    (University of Brawijaya, Law Doctoral Program, Faculty of Law)

  • Rika Dewantara

    (University of Brawijaya, Law Doctoral Program, Faculty of Law)

Abstract

The Covid-19 pandemic has caused business actors to suffer losses and are unable to carry out their obligations to creditors. This condition was caused by deteriorating economic conditions, due to uncertainty. Many local and global companies have filed for bankruptcy, amidst the desire to maintain the company’s survival. This study aims to examine and analyze the efficiency and effectiveness of the bankruptcy mechanism as an effort to settle debts due to uncertainty after the Covid-19 Pandemic or the deteriorating economy. This legal research is a qualitative legal research with a descriptive design that uses the theory of economic analysis of law in debt settlement due to deteriorating economy. The results of the study show the effectiveness of debt settlement through bankruptcy institutions.

Suggested Citation

  • Idho Sedeur Nalle & Abdul Rachmad Boediono & Setyo Widagdo & Rika Dewantara, 2023. "Maintaining Global Economic Sustainability: Bankruptcy as Settlement Legal Remedies Accounts Receivable Due to the Covid-19 Pandemic," Advances in Economics, Business and Management Research, in: Adi Kusumaningrum & Airin Liemanto (ed.), Proceedings of the 1st Brawijaya International Conference on Business and Law (BICoBL 2022), pages 81-87, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-214-9_9
    DOI: 10.2991/978-94-6463-214-9_9
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