Bankruptcy of individuals: problemic aspects of the procedure implementation

Gudkov A. I., Krasilschikov A. V., Mishchenko V. I.

The article examines a number of problems associated with the enforcement of bankruptcy procedures for individuals. In particular, it highlights the problematic aspects of the implementation of artificial bankruptcies and the commission of imaginary transactions in order to underestimate the value of the property of a bankrupt person. The analysis of changes in legislation in this area is carried out and the positive and negative aspects of the innovations are highlighted. The authors believe that in order to reduce the number of fictitious bankruptcies, it is necessary to strengthen state control over the legality of bankruptcy procedures for individuals and individual entrepreneurs.

Keywords:individuals, bankruptcy, insolvency, sham transaction, creditor, debtor, deliberate bankruptcy.