Foreign debtor that doing business in Indonesia , in this case has assets in
Indonesia and overseas, when bankruptcy occurs, of course all the assets that
debtor has will be confiscated and settled. Penaga Timur (M) Sdn. Bhd. is Malaysia
sea freight company that doing business in Indonesia became insolvency and
Commercial Court appoint a Curator to confiscate and settle all assets that debtor
has to pay off the debt to creditors. Article 21 Act Number 37 of 2004 concerning
Bankruptcy and Delay Payment of Debt (UUK-PKPU) explained that insolvecy
contains all assets debtor has in or out territory of the Republic of Indonesia, but
because the location of some assets that debtor has are outside the territory of the
Republic of Indonesia, the Curator has not been able to fulfill the rights of creditors
that are PT. Wijaya Artha Shipping and PT. Ujung Medini Lestari. This research
was conducted with normative legal research approach. The result of this research
are Curator has authority to settle debtor’s assets even without debtor’s agreement
and Curator can maximally settle debtor’s assets that in Indonesia first, but for the
asset’s that in Malaysia, Curator doesn’t have power to settle because Malaysia
have their own law and sovereignty.