AMAR Law Firm & Public Interest Law Office (“AMAR”), acting as the advocate for the Receiver Team of PT Fosta Unggul Perdana (In Bankruptcy), successfully won an Ancillary Civil Lawsuit (Gugatan Lain-Lain or GLL) against IS Bank at the Commercial Court of the Central Jakarta District Court.
In Decision Number 48/Pdt.Sus-Pailit-GLL/2025/PN.Niaga.Jkt.Pst, the Panel of Judges declared that the actions of IS Bank constituted an unlawful act (Perbuatan Melawan Hukum), as the bank continued to retain control over the bankrupt debtor’s assets which, by law, had become part of the bankruptcy estate (boedel pailit).
Background of the Lawsuit
This lawsuit was filed because IS Bank, acting as a secured creditor holding a mortgage right (hak tanggungan), claimed to have become the rightful owner of the bankrupt debtor’s asset through the Agunan yang Diambil Alih (AYDA) mechanism (Foreclosed Collateral), and refused to hand it over to the Receiver Team
However, pursuant to the Bankruptcy and Suspension of Debt Payment Obligations Law (Undang-Undang Kepailitan dan PKPU), the Banking Law (Undang-Undang Perbankan), and Supreme Court Circular Letter (SEMA) No. 3 of 2023, an AYDA object in a bankruptcy process cannot be construed as having been sold through a valid sale-and-purchase transaction. As long as the AYDA object has not been sold to a third party, the bank retains its status as a secured creditor, and the object remains part of the bankruptcy estate (boedel pailit).
Accordingly, IS Bank has no legal basis to retain control over the foreclosed asset (AYDA) and is obligated to surrender it to the receiver for the purpose of settling the bankruptcy estate in the interest of all creditors including workers entitled to unpaid wage claims.
Considerations and Decision of the Court
In its ruling, the Panel of Judges emphasized several key points:
- A bank is prohibited from owning collateral pledged to it, whether acquired through auction or outside an auction process;
- Assets acquired through the AYDA (Foreclosed Collateral) mechanism remain part of the bankruptcy estate (boedel pailit), as no legal transfer of ownership to another party has occurred;
- The action of IS Bank in continuing to retain control over the bankrupt debtor’s asset is deemed an unlawful act (perbuatan melawan hukum), as it contradicts multiple statutory provisions and established jurisprudence.
Based on these considerations, the Panel of Judges granted the Ancillary Civil Lawsuit (Gugatan Lain-Lain or GLL) filed by AMAR and ordered IS Bank to hand over all foreclosed assets (AYDA) to the Receiver Team for administration and liquidation in the interest of all creditors including workers entitled to unpaid wage claims.
Legal Basis Referenced by the Court
In its decision, the Panel of Judges also referred to several relevant legal instruments and precedents, including:
- The Law on Bankruptcy and Suspension of Debt Payment Obligations (Undang-Undang Kepailitan dan PKPU)
- The Banking Law (Undang-Undang Perbankan)
- Supreme Court Circular Letter (SEMA) No. 3 of 2023
- Article 36 Article 87 paragraph (1) of Minister of Finance Regulation No. 122/2023
- Decree of the Chief Justice of the Supreme Court No. 109/KMA/SK/IV/2020
- Supreme Court Jurisprudence No. 153 K/PDT/2001
- Constitutional Court Decision No. 67/PUU-XI/2013
The Panel of Judges found that IS Bank’s actions were contrary to fundamental principles of bankruptcy and detrimental to other creditors, including workers. Accordingly, the acquisition of the foreclosed collateral (AYDA) by IS Bank was declared null and void and without any binding legal force.
About AMAR Law Firm & Public Interest Law Office
AMAR Law Firm & Public Interest Law Office is a law firm specializing in corporate litigation, bankruptcy, and public interest advocacy. AMAR is widely recognized for its active involvement in strategic cases concerning public interest and social justice, with a strong commitment to legal integrity, transparency, and professionalism..
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