Macroeconomically, corporate bankruptcy will affect the productivity of national
economic, especially if the company is a state-owned with a strategic position. In
principle, this research has the purpose which is to provide further description about the
bankruptcy of state-owned company, and to know the application of the principle of
Commercial Exit from Financial Distress to the insolvency of a state-owned company.
This thesis is written with Normative legal research method that is, a scientific research
procedure to find the truth based on the logic of legal science from the normative side.
Based on the results of the research that has been done by author, then a state-owned
general can be bankrupted by using the Principle of Commercial Exit From Financial
Distress with reference to Article 2 paragraph (1) UUK PKPU namely the petition can be
filed by the debtor or creditor itself without having to be submitted by Minister of
Finance.