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The purpose of this research is to find out regulation of bankruptcy procedures and the authority of the receiver in Indonesia. Type of research employed in this study is normative legal research with statute and conceptual approach. The results show that bankruptcy procedure in Indonesia begins with petition for bankruptcy, commercial court declarations, establishment of supervisory judges, announcements, meetings, settlement plans, suspension of payment, bankruptcy, insolvency, stay period, liquidation and revenue sharing of debtor assets. Revenue sharing of debtor assets is if the amount of assets is smaller than the debts has the potential to fulfill the obligations to the concurrent creditors is not paid in full. Fair sharing solutions proportionally and made sharing list. The authority of receiver includes the authority of administrator, as an administrator in the process of suspension of payment and as a Receiver in the bankruptcy process. Keywords—Bankruptcy; receiver; legal system; commercial

Commercial Court Legal System of Bankruptcy: Debtor Assets Less Than the Amount of Debts