Bankruptcy developers, consumers become the most disadvantaged party

JAKARTA, KOMPAS.com – The Covid-19 pandemic has hit the sector property so hard as to cause some developer ran into financial difficulties and filed a lawsuit bankrupt.

However, the steps of a developer who goes bankrupt or is sued for bankruptcy actually harm property buyers or consumers.

They are the first to suffer the most from the bankruptcy.

Legal Practitioners from the Advocacy Institute Property Indonesia Erwin Kallo said this was because buyers did not know the origins of the bankruptcy.

“They do not know anything, suddenly appear bankrupt,” Erwin said in a virtual webinar, Friday (18/9/2020)

Therefore, property buyers need to be placed as creditors preference, good competition.

Please note, creditors preferens are creditors who are preferred because of the nature of their receivables (privileges). Meanwhile, competing creditors do not hold material security rights.

The placement of consumers as preferred creditors is because they are not at all involved in the construction of the purchased project.

Also read: Cowell is in Bankruptcy, This Is What Consumers Should Do

Consumer confidence needs to be properly maintained by the developer so as not to cause disappointment that affects sales property project.

“When it happened distrust (disbelief), well, we don’t want to buy anymore-lah, (consumers) just buy the finished product, “said Erwin.

Besides consumer property, bank, and the developer is also disadvantaged by the bankruptcy.

According to Erwin, banks are disadvantaged because they have a central role in the property business. This is because almost 80 percent of property consumers rely on mortgages (KPR) and ownership loans Apartment (KPA).

Bank disadvantaged from the bankruptcy of a developer because it cannot act as a separatist creditor if a project does not yet have rights of liability. In this case, the security right is in the form of a building certificate.

In fact, added Erwin, the issuance of certificates high-rise building or apartment takes a long time because there are many provisions that must be done.

Therefore, mitigating the risk of bankruptcy must be accelerated by the process certification building for protection of banks and consumers.

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