The Limited Partner Position in bankruptcy Limited Partnership (CV) in Indonesia

Abstract

Limited Partnership or CV is a form of company which is used in the running of the company. There are two types of partner in the Limited Partnership that is complementary partner or managing partner and limited partner. Article 1 (11) Act No. 37 Th 2004 about Bankruptcy and PKPU (UUK-PKPU) set about the debtor that can be requested to be declared bankrupt, one of them was the Limited Partnership. Related to the bankruptcy of Limited Partnership, interesting to review more about the Limited partner. Can Limited partner responsible for inbrenk be requested to be declared bankrupt against the Limited Partnership debt that is settlement bankruptcy? Statements in bankruptcy can only be addressed to the debtor who has at least two creditors and do not pay in full at least one loan that already fall time and billable (article 2 paragraph UUKPKPU). In Indonesia Limited Partnership not a legal entity so that it's not legal subjects as Limited liability company. UUK-PKPU does not regulate who can be petitioned to be declared bankruptcy Limited Partnership. According to article 19 KUHD managing partner are responsible for debt limited partnership. According to article 21 KUHD limited partner are also responsible as managing partner if they carry out management or work in the limited parnership. Limited Partner can thus serves as the debtor that can be petitioned to be declared bankrupt in bankruptcy Limited Partnershipi if it complies with the provisions of article 21 KUHD and article 2 paragraph 1 UUK-PKPU.