Lack of Legal Protection for Beneficiary Creditors of Fiduciary in The Bankruptcy of Debtor in Indonesia

Abstract

Fiduciary guarantee is one of the collaterals that are often used in society, especially in business activities. The primary function of the guarantee is to provide receivables security of creditors. Beneficiary Creditors of Fiduciary have positioned preferred and separatist creditors. However, in the practice of dispute often arises because of differences of interpretation as regards the legal consequences for Beneficiary Creditors of Fiduciary in bankruptcy of debtor. This study aims to reveal the evidence as well as provide analysis on legal consequences as well as lack of legal protection for creditors of the fiduciary guarantee in bankruptcy of the debtor. Theory and concepts that are used are the basic ideas of law, Rechtsvinding, justice, Progesif Law, Legal Protection, Agreements, Collateral, and bankruptcy. The results of the research showed that if the debtor bankrupt's creditors of the fiduciary recipient can do execute fiduciary guarantee object. It is set firmly in the fiduciary guarantee legislation. However in practice often arise problems if the debtor bankrupt, due to differences of interpretation especially if associated with Bankruptcy Law and debt repayment Obligations that determine the existence of waiting time for Creditors in performing execution of fiduciary guarantee object. As a result, it is often the beneficiary creditor of fiduciary less gets legal protection. Keyword: Legal Protection, Fiduciary Guarantee, Bankruptcy, preferred, separatist, execution