PROSES RESTRUKTURISASI UTANG MELALUI PENUNDAAN KEWAJIBAN PEMBAYARAN UTANG (PKPU) SEBAGAI PERWUJUDAN COMMERCIAL EXIT FROM FINANCIAL DISTRESS PERSEROAN TERBATAS (STUDI KASUS PT MEGAH BANGUN BAJA SEMESTA)

The restructuring process between debtors aims to avoid debtors from bankruptcy, the procedure can be utilized by debtors who have good faith in fulfilling their obligations and are constrained by cash flow in corporate finance (financial distress). This was experienced by PT Megah Bangun Baja Semesta in case Number 18/Pdt.Sus-PKPU/2023.PN.Niaga.Jkt.Pst which was filed by its Creditors due to not being able to pay off all its debts. Thus, PT Megah Bangun Baja Semesta restructured its debt in the peace plan process during the trial agenda in PKPU. The purpose of this research is to find out the Debt Restructuring process through the Postponement of Debt Payment Obligations (PKPU) as an Embodiment of Commercial Exit from Financial Distress of Limited Liability Companies (Case Study of PT Megah Bangun Baja Semesta). The research method used in this research is juridical-empirical with a statutory and socio-legal approach. The results of this study indicate that restructuring in the PKPU peace plan of PT MBBS, in line with the principle of financial exit from commercial distress, is a way out for PT MBBS to avoid bankruptcy and continue its business activities. The PKPU dispute resolution process in this case is in accordance with the provisions of commercial procedural law as statd in Law No. 37/2004 concerning Bankcruptcy.