Legal Analysis of the Status of Foreclosed Collateral as a Guarantee Object in a Bankruptcy Estate (Case Study of Decision No. 5 K/Pdt.Sus-Pailit/2025)

Abstract

This research analyzes the legal status of Collateral Taken Over (AYDA) voluntarily surrendered by a debtor but included in the bankruptcy estate. A case study of Decision No. 5 K/Pdt.Sus-Pailit/2025 reveals a conflict between the creditor's rights and the supervisory judge's ruling. Although the Supreme Court Circular Letter No. 3/2023 states AYDA is not a sale, the court affirmed that assets included in the bankruptcy estate remain binding as long as the ruling is not annulled. This juridical-normative study highlights the tension between creditor protection and the paritas creditorum principle in bankruptcy law.