LEGAL RESPONSIBILITY OF ALLIES FOR BANKRUPTCY DECLARATION AGAINST CV IN INDONESIA: A COMPARATIVE STUDY WITH PAKISTAN LAW

Abstract

Cooperation in a civil context has long been part of Indonesian society, reflected in the culture of mutual cooperation. The purpose of cooperation can be economic to gain profits or non-economic for social purposes. CV (Commanditaire Vennootschap) is a form of non-legal business entity consisting of complementary (active) partners and limited (passive) partners. In running a business, CV can experience losses which lead to debt and ultimately bankruptcy. Bankruptcy is debt settlement through the court which involves general confiscation of the debtor's assets, with management by a curator under the supervision of a supervising judge. This research analyzes the legal consequences of declaring bankruptcy on CV, including the existence of CV if bankruptcy ends in peace or insolvency. CV as a business entity can be declared bankrupt if it meets the requirements of having two or more creditors and does not pay off one of the debts that is due. The consequences of declaring bankruptcy on CV involve the responsibilities of complementary and limited partners and their spouses in a marriage with a union of assets. The research method used is doctrinal, with an approach to the applicable positive legal rules. The analysis shows that CV and its partners are responsible for their personal assets if CV's assets are insufficient. Bankruptcy regulations in Indonesia, which have existed since the Dutch East Indies era, are now regulated in Law no. 37 of 2004 concerning Bankruptcy and PKPU. The research results show that CV as a non-legal business entity can still run the business after the bankruptcy ends with full payment and rehabilitation. Thus, it is necessary to review the CV bankruptcy regulations in Law no. 37 of 2004 to ensure appropriate legal protection for all parties involved