9 steps that are in KEPAILITAN

9 steps that are in bankruptcy exist, namely:

Bankruptcy petition, bankruptcy petition requirements have been stipulated in Law No. 4 of 1998,
like what you have written above.
Bankruptcy decision-powered equipment, with a term up to the decision of the bankruptcy petition
bankruptcy stay was 90 days strength.
Meeting of verification, is meeting registration debts, in this step is data collection
piutangyang how much debt and owned by the debtor. Verification of the debt is a stage
The most important in bankruptcy because it will set the order of consideration rights
each creditor. Verification meeting chaired by the supervisory judge and attended by:
(A) the Registrar (as the registrar),
(B) Debtor (should not be represented because the debtor will have to explain that later occurred
differences of opinion about the number of bills,
(C) Creditor or his proxy (if unable to
not present anything, will follow the meeting),
(D) a receiver (must be present as an asset manager).
Peace, if peace is received then the bankruptcy process ends,
if not it will proceed to the next process.

The peace process was always sought and included in the agenda. There are several differences between the peace
that occurred in the peace process with the usual bankruptcy. Peace process
bankruptcy include:
(A) binding on all creditors, except creditors separatist
because the separatists have been secured creditors with its own separate security bodies with
bankruptcy estate generally.
(B) bound formality,
(C) ratification in the trial homologation,
(D) if the commercial court rejected the appeal,
(E) there is strength eksekutorial, what is stated in the peace, the practices can
done by force. The stages in the peace process, among others:
- Submission of proposals for peace,
- Bulletin of peace proposals,
- Decision-making meetings,
- Trial homologation,
- An appeal,
- Rehabilitation.
Homologation get along, ie request endorsement by the Commercial Court,
if the process is acceptable.

Insolvency, a condition in which the debtor otherwise is really not able to pay,
or in other words, fewer debtors assets with debt.
Thing about this is determining the fate of insolvency of debtors, whether there will be execution or
restructuring occurred peacefully.
When the occurrence of insolvency (Article 178 UUK), namely:
(A) when verification is not offered peace,
(B) the peace offering was rejected,
(C) ratification of peace was rejected by the judge. With the insolvency, the bankruptcy estate
immediately executed and distributed to the creditors.

Clearance / liquidation, the bankrupt debtor ppenjualan property, which is distributed kepad
unsecured creditors, after deducting the costs.
Rehabilitation, which is a vindication of business creditors,
but with a note if the peace process acceptable, because if peace is rejected
then there is no rehabilitation. Terms rehabilitsi is: there has been peace,
there has been debt payments in full.
Bankruptcy ends.
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