Analysis of Debtor's Efforts in Settlement or Implementing Credit Obligations During the Non-Natural National Disasters of the Covid-19 Pandemic

Abstract

Due to Covid-19 pandemic many debtors unable to fulfill their obligations to creditors in a credit agreement. Such conditions rising the opinion and/or use the Covid-19 Pandemic as an excuse for debtor not to fulfill their obligations to creditors in a credit agreement on the grounds of forced circumstances (overmacht). This study aims to find out the debtor's efforts in settlement or implementing credit obligations during the non-natural national disasters of the covid-19 pandemic. The type of research used is normative legal studies, which are conducted through a process of legislation and regulatory evaluation. In terms of technique, scientifically normative legal science disclosure methods are constrained by deductive logic criteria. This study employed normative legal research methods. This method investigates law from an internal juridical standpoint, examining legal norms, legal conceptions, legal principles, and legal doctrines. The technique taken in this research is a legal and conceptual one, with primary and secondary legal material sources. The technique for collecting legal materials is to assess all books relevant to the subject of the research, and then compile them in a quantifiable and systematic manner. The findings highlight that with the prevailing laws and regulations due to the Covid-19 Pandemic, business actors are given legal certainty for business loans made in this case debtors, both individual debtors and business entity debtors, so that the impact of credit risk caused by the Covid-19 pandemic can be overcome properly and does not cause a debate over credit conditions during the Covid-19 Pandemic.

National Economic Stimulus Policy to Reduce Non-Performing Loan Risk on Msme Debtors Affected by Covid-19 Disturbing Banking Performance and National Financial System

“…In the implementation, restructuring extension includes assessing going concern and debtors' business prospects on each bank's assessment as the creditor. Credit restructuring extension opens an opportunity for banks to measure which debtors should have value depreciation loss reserves (Barus et al, 2022). Therefore, all banks should assess all debtors eligible for credit restructure based on POJK Number 11 of 2020.…”