YOGYAKARTA – In the course of a business, there are many challenges that need to be faced to be able to progress or develop. If the business cannot survive the existing challenges, the company may go bankrupt or fail. There is a company procedure declared official bankruptcy or according to the Law (UU).
However, companies that go bankrupt or have economic difficulties cannot necessarily be declared bankrupt. Bankruptcy is a condition when debtors are unable to pay off debts to two or more debtors. Bankruptcy is a common thing when debtors are unable to repay money loans within a certain period of time.
To make the company declared bankrupt, the debtor or creditor has the right to submit an application to a commercial court. So how is th…
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