PELAKSANAAN LELANG EKSEKUSI JAMINAN KEBENDAAN OLEH KREDITUR SEPARATIS SEJAK DIMULAINYA KEADAAN INSOLVENSI (STUDI KASUS KEPAILITAN PT HAKADIKON BETON PRATAMA SURABAYA)

Bankruptcy is a condition when the debtor is unable to pay his overdue debts due to Financial Distress. The purpose of the research is to find out and analyze the implementation of the auction for the execution of property collateral by the separatist creditor of PT Hakadikon Beton Pratama Surabaya since the commencement of the insolvency situation in terms of the provisions of Article 59 (1) UUKPKPU and to find out the obstacles faced by the separatist creditor in the execution of property collateral by the separatist creditor. In this research, the author uses empirical juridical research. The results showed that (1) The process of implementing the execution of property collateral by the separatist creditor of PT Hakadikon Surabaya is actually in accordance with the regulations in article 59 (1) of the UUKPKPU where the process of executing property collateral is carried out within 2 months. Separatist creditors are authorized to sell collateral objects during parate execution, without court assistance, and without bailiffs. (2) The obstacles faced in the process of executing bankruptcy property collateral in the provisions of Article 59 paragraph (1) of UUKPKPU are considered unrealistic. In practice, it is very difficult for a creditor to be able to execute his guarantee within two months. In the implementation of Article 59, there are indications of different interpretations that cause norm conflicts. So that this has the potential to cause doubts and even distrust of the public towards the law and legal institutions, especially the Commercial Court Institution and other law enforcement agencies, therefore it is necessary to examine the law to ensure that the existing articles are clear in technical implementation and do not conflict with the 1945 Constitution of the Republic of Indonesia.