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8 Indon. L. Rev. 190 (2018)
Aspects of International and Domestic Law Pertaining to the Establishment of ASEAN Cross-Border Insolvency Regulation: An Indonesian Perspective

handle is hein.journals/indolawrev8 and id is 190 raw text is: Indonesia Law Review (2018) 2: 190-202 ISSN: 2088-8430 | e-ISSN: 2356-2129 ASPECTS OF INTERNATIONAL AND DOMESTIC LAW PERTAINING TO THE ESTABLISHMENT OF ASEAN CROSS-BORDER INSOLVENCY REGULATIONS: AN INDONESIAN PERSPECTIVE Moch Najib Imanullah*, Emmy Latifah*, Pramesthi Dinar Kirana Ratri* * Faculty of Law, Universitas Sebelas Maret Article Info Received: 9/1/2017 | Received in revised form: 1/12/2018 | Accepted: 5/28/2018 Corresponding author's e-mail: najibimanullah@staff.uns.ac.id Abstract Increasedcross-border trade has resulted in more companies with assets, business, and presence in multiple jurisdictions. When any of these companies face debt restructuring or insolvency, they face a myriad of complex issues involving the coordination of rescue proposals and multi-jurisdictional enterprises. Prior to the 1997 economic crisis, insolvency laws in most state economies were generally out-of-date and irrelevant to modern commercial needs, particularly with regard to cross-border insolvency issues. ASEAN initiated an integrated regional economy with its launch oft he ASEAN Economic Community in late 2015 Its aim was to establish a deeply integrated, highly cohesive regional economy that would support sustained, high economic growth and resilience in the face of global economic shocks. Unfortunately, ASEAN members have still not prepared regulations regarding cross-border insolvency matters that can hamper a fully integrated regional economy. Each member state has its own national insolvency laws and proceedings, but none have schemes thatsurpass national borders and simplify procedures. That said, international and domestic lawsof Indonesia could be adjusted to establish cross-border regulations throughout ASEAN. Hence, in-depth harmonization of cross-border insolvency should be a priority within the Economic Community as it seeks to achieve a fully integrated economy. Keywords: Cross-border Insolvency, Integrated Economy, International Law, Domestic Law, Indonesia, ASEAN. Abstrak Praktik penangkapan ikan yang tidak sah, tidak dilaporkan dan tidak diatur (IUU fishing) merupakan kegiatan yang mengancam sumber daya hayati laut. Mahkamah Internasional untuk Hukum Laut (ITLOS) telah mengeluarkan rekomendasi terkait tanggung jawab negara bendera yang diduga melakukan praktek IUU fishing di wilayah yurisdiksi negara anggota SRFC Selain itu, ahli hukum internasional dan instrumen hukum internasional telah menunjukkan perlunya pembahasan hal tersebut terutama dikarenakan adanya kekosongan hukum dalam Konvensi Hukum Laut. Hal ini sangat terkait dengan kasus yang baru saja terjadi di zona ekonomi eksklusifIndonesia yang dilakukan oleh kapal berbendera Tiongkok, Kway Fey 10078. Dalam kasus ini, kapal patroli berbendera Tiongkok telah melakukan intervensi yang menyebabkan Indonesia tidak dapat melaksanakan yurisdiksi dan melakukan proses hukum terhadap kapal Kway Fey 10078. Selain itu, Pemerintah Tiongkok meminta Pemerintah Indonesia untuk melepaskan delapan orang warga negara Tiongkok yang ditahan oleh KKP Indonesia. Hal ini menimbulkan pertanyaan apakah hukum internasional memberikan solusi untuk mengatasi masalah IUU fishing secara efektif Keywords: IUU fishing, state responsibility, flag state, Itlos, unclos DOI: http://doi.org/10.15742/ilrev.v8n2.265

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