Bankruptcy regulations and debt obligations in 2020

Based on data from the Case Tracing Information System (SIPP-PN), there has been an increase in the number of cases from January to October in 2020 compared to 2019. There was an 81% increase in cases compared to 2019, from 320 cases to 578 cases.

Based on the region’s origin, the largest number of cases came from  SIPP Central Jakarta, which is as many as 387 cases (67%). The rest came from  SIPP Surabaya as 83 cases (14%), SIPP Semarang as  62 cases (11%), SIPP Medan as 42 cases (7%), and SIPP Makassar as 4 cases (1%).

Based on the types of cases, 87% or 501 cases were cases of “Bankruptcy and Suspension of Obligations for Payment of Debt,” and the remaining 13% or 77 cases were cases of “Petition for Declaration of Bankruptcy.” Most of the bankruptcy cases came from the SIPP Central Jakarta (41 cases) and Semarang SIPP (19 cases).
Based on the business line, 22% of the 578 cases came from the Property sector, 20% from the Construction sector, 14% from Developers, 13% from personal cases, and others.

Based on monthly growth, at the beginning of the year, in April 2020, the number of cases was at the lowest point or decrease by -11% compared to the same period in 2019. Meanwhile, in July 2020, the number of cases growth was at the highest point of 207% compared to the same period in 2019.