Indonesia has faced during the pandemic an increase in the number bankruptcy cases while several companies applied for postponement of payment obligations from the Commercial Courts. This study aimed to examine the principle of justice vested in Law Number 37 of 2004 concerning Bankruptcy and PKPU (suspension of payment obligations) and whether the application for bankruptcy and PKPU were in accordance with the principle of justice. The normative juridical method with a Statute Approach was used in this research study. The study found that principle of justice in Law Number 37 of 2004 concerning Bankruptcy and PKPU meant where bankruptcy institution would provide a sense of justice for parties, especially for debtors and all creditors in settling debts through bankruptcy institutions. Findings also revealed that the verdicts in bankruptcy petition cases were not able to apply the principle of justice, especially for debtors whose businesses were still running. The study recommended to make amendments in the conditions set for bankruptcy in Law 37/2004, should be simplified, without any insolvency test on the debtor's business or his financial condition.