The State of Bank Guarantee When the Guaranteed Debtor is Declared Bankrupt
- 10.2991/assehr.k.200515.050How to use a DOI?
- Bank Guarantee, bankrutpcy, guarantee
Bank Guarantee is one of the many ways for creditor to secure and safeguard the payment of its receivables from its debtor. When a debtor is in default by not paying its debts, the debtor can be declared bankrupt. There is case whereby court decided that to claim forpayment from Bank Guarantee issued for the benefit of a bankrupt debtor, the claim must be submitted to the curator of the bankrupt debtor. The purpose of this paper is to elaborate whether the holder of Bank Guarantee has the right to demand payment to the Bank based on the Bank Guarantee when the guaranted debtor is declared bankrupt. This research is a normative legal research using secondary data, especially primary and secondary legal sources. The analysis of this research finds and proves that the right of the holder of Bank Guarantee was never influenced by the bankruptcy of the debtor.
- © 2020, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Gunawan Widjaja AU - Sarjana Orba Manullang PY - 2020 DA - 2020/05/20 TI - The State of Bank Guarantee When the Guaranteed Debtor is Declared Bankrupt BT - Proceedings of the Tarumanagara International Conference on the Applications of Social Sciences and Humanities (TICASH 2019) PB - Atlantis Press SP - 282 EP - 283 SN - 2352-5398 UR - https://doi.org/10.2991/assehr.k.200515.050 DO - 10.2991/assehr.k.200515.050 ID - Widjaja2020 ER -