RECONSTRUCTION OF INDONESIAN BANKRUPTCY LAW CONCERNING THE DEFINITION OF INSOLVENCY FROM THE POINT OF VIEW OF ENTREPRENEURS: A STUDY OF LEGAL DOGMATICS

Abstract

This research intends to explore Indonesian bankruptcy law, particularly Law of the Republic of Indonesia Number 37 of 2004 regarding Bankruptcy and Suspension of Debt Payment Obligations (Law 37/2004), the point of view of entrepreneurs in relation to the concept of insolvency. The methodology employed in this study is a legal-dogmatic approach, a specific form of legal research that emphasizes the examination of the normative legal system as both the subject of study and the guiding framework of Indonesian bankruptcy law. Data collection is performed through observations and documentation, including court rulings, with data analysis conducted using systematic grammatical interpretation and deductive reasoning to draw conclusions. The findings of this research aim to promote reforms in Indonesian bankruptcy law regarding the concept of insolvency, making it more ideal and supportive of entrepreneurs. Consequently, this research advocates for the development and modernization of laws to establish a more effective definition of insolvency in Law 37/2004, prioritizing entrepreneurs' needs.