00:00In my speech for Belia, I mentioned about the individual bankruptcy, AKPK.
00:14But if we look at the speech from the Minister,
00:19he mentioned about the second chance for the company.
00:24And in my speech, I know that in my area,
00:29many young people are involved in their own businesses.
00:33So we want to have a segment so that
00:38the second chance is given to small companies
00:43or large companies that are facing financial problems.
00:47I have heard a lot about the main challenges after COVID.
00:51It has a snowball effect on the economy and financial ability.
00:57But the bank loan, I still remember during COVID,
01:02it doesn't have to be paid on time, but it can be dragged at a certain time.
01:06But if the payment is dragged at a certain time,
01:09because of COVID, the business doesn't go in,
01:11so this thing has a snowball effect.
01:13That's why recently in the parliament,
01:16I had a meeting with several agencies
01:18and also with the insolvency office under my control.
01:24Indeed, it will be an initiative of the insolvency office
01:27under the Law Enforcement Department for the 2025 segment
01:31to focus on the second chance for companies.
01:34Because the aspiration of the second chance,
01:37aside from the White Knight strategy,
01:39which means that there is a rescue for any parties
01:43who are interested in saving this company,
01:46or see how we can create a new or creative approach.
01:53So to kick off this program,
01:55to start, I have directed to create a convention
01:59together with all the agencies involved,
02:01with several stakeholders involved,
02:04so that we can make a national convention.
02:08And then after the national level,
02:11we will do it at the country level.
02:14I don't know in the aspect of the law,
02:16whether we want to look at the changes in the law
02:19to help or more to the structure.
02:21But the insolvency department in the AKPK for individuals,
02:25it is an agency to help credit individuals.
02:29So before it was put on the road to bankruptcy,
02:33it has a second chance.
02:34That's under the AKPK.
02:36So now companies in our country,
02:38sometimes when they are alone as a company,
02:41the first challenge is to control the creditors.
02:45This company is different from individuals.
02:48Individuals are easy to talk to,
02:51they are one-on-one,
02:52but this company is a company entity.
02:55Its approach is different.
02:57Secondly, the company's assets are sometimes more expensive
03:00than the creditors' debts.
03:02But because of the inability,
03:04it will also have an effect on the value of the asset.
03:08And finally,
03:09we must also look at the number of employees under the company.
03:12Because if the company is bankrupt,
03:14it will affect those who work under the company umbrella.
03:18So it's not just one company affected,
03:20the individual is one person.
03:22But this company has a lot of effects.
03:25That's why we have to make a convention
03:28with the agencies in charge,
03:30the agencies involved,
03:32and also the management.
03:34Because we need to monitor this.
03:37Maybe restructuring of the company.
03:40I also see a lot of small companies.
03:46I don't know the number,
03:48but I was informed by the insolvency office,
03:50the number is quite high.
03:53There are many processes for winding up.
03:56Unlike the US,
03:58it has a self-winding up system,
04:00called Chapter 11 and Chapter 13.
04:02That means the company can try to knock on the door
04:04to ask for help.
04:05That's why it's called Chapter 11 and Chapter 13.
04:07We don't have that system.
04:09We are a bank, creditors, and a company.
04:12So,
04:13the company is on its own.
04:15It's difficult.
04:17That's why the Minister of Finance
04:20has given a speech
04:23about the second base of opportunities for companies.
04:27That's all.
04:28Maybe,
04:30there is no figure,
04:31but maybe there is a target
04:32to save money for the first phase.
04:34I think for the bankruptcy,
04:35last year,
04:36we had released hundreds of thousands.
04:38So, for this company,
04:40the second base of opportunities,
04:41I see it more like
04:43pre and post-insolvency.
04:45Before it is bankrupted,
04:46winding up,
04:47and after that.
04:48So, there are two segments.
04:50But now,
04:52in 2025,
04:54we need to make changes to the company.
04:56If we look at the picture,
04:58many companies out there
04:59are facing the problem of
05:01being unable to pay their debts.
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