Mario Ihutan Jeremia
Mario Ihutan Jeremia, S.H., M.H. currently serves as Doctoral Student in Universitas Brawijaya.
Sukarmi
Prof. Dr. Sukarmi, S.H., M.Hum serves as Law Professor in Faculty of Law, Universitas Brawijaya.
Sihabudin
Dr. Sihabudin, S.H., M.H serves as Associate Professor of Law in Faculty of Law, Universitas Brawijaya.
Budi Santoso
Dr. Budi Santoso, S.H., LL.M serves as Associate Professor of Law in Faculty of Law, Universitas Brawijaya
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Urgency, Mechanism, and Efficiency: An Economic Law Framework of Credit Dispute Resolution
Abstract
This research addresses the critical issue of protracted and costly non-performing loan (NPL) dispute resolution in Indonesia, which impedes economic stability and burdens legal relationships. It novelly applies an economic analysis of law framework to examine the mechanism and urgency of NPL dispute resolution, prioritizing efficiency to optimize resource allocation, minimize transaction costs, and expedite settlements. Employing a normative qualitative approach, this study demonstrates the superior effectiveness of efficiency-based alternative dispute resolution (ADR) mechanisms like mediation and arbitration over conventional litigation. The findings contribute by highlighting ADR's potential to enhance legal certainty and public trust in the financial system. The research urges the strengthening of ADR regulations and institutional capacity to foster a more adaptive and sustainable legal framework for NPL management in Indonesia.
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DOI: http://dx.doi.org/10.51825/nhk.v8i1.31466
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