A Practice of Loan Sales Facility: Experience and lessons from Indonesia
European Journal of Molecular & Clinical Medicine,
2021, Volume 8, Issue 3, Pages 558-567
AbstractSyndicated loans during the credit period often emerge the practice of loan sales or sales of loan facility. The research was aimed to analyze and formulate the practice of sales of loan facility in syndicated loans that performed by the approval of Bank agent without the knowledge of the debtor. The method of research is descriptive analytical with sampling technique using literature study and interviews. The conclusion of research in the form of primary and secondary data were conducted by using qualitative juridical analytical methods. The results of research indicates that the process of sales of loan facility from PT. Bank A to PT. Bank D can be canceled due to the rechtstitle (sale and purchase agreement) underlying a cessie agreement and not based on the applicable law. Legal consequences for PT. Bank D (new creditor) for the takeover of credit receivables by making a sale and purchase agreement for credit and cessie agreements from PT. Bank A to PT. Bank D which is done only with the approval of Bank Agent without the knowledge of the debtor and bad credit occurs, then PT.
Bank D cannot execute the object of collateral, because PT. Bank D did not register with the Land Agency and Fiduciary Registration Office, so the Mortgage and Fiduciary Rights holders were still on behalf of PT. Bank A and other creditors.
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