The Commercial Court was established in 1998 following the 1997 monetary crisis at the request of the IMF and the World Bank, as a means to rescue companies facing collapse. The establishment of this court was urgent, prompting the government to issue Government Regulation in Lieu of Law (Perppu) No. 1 of 1998, which was later enacted as Law No. 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations (PKPU). Many companies were successfully rescued through PKPU, which allows debtors to voluntarily restructure their debts—a special privilege granted by law—with a court decision required within a maximum of three (3) working days.

We are a law firm actively engaged in proceedings at the Commercial Court, serving as legal counsel for petitioners/respondents, creditors/debtors, as well as court-appointed administrators or receivers. Bankruptcy and PKPU are among our core specializations, supported by a team of Partners and Associates with strong backgrounds in finance and banking, and extensive experience in debt restructuring. This form of commercial litigation is highly effective, as it enables debtors to restructure debts owed to all creditors—whether preferred, secured (separatis), or unsecured (konkuren)—under a single composition plan that applies to all parties, making the process efficient and measurable.

BANKRUPTCY & INSOLVENCY