General principles of resolution of insolvency in modern legislation

Iontsev Mikhail Anatolievich

The key problems of any collective method of resolving insolvency are: a) effective elimination of insolvency and / or its causes, the consequence of which is the most complete satisfaction of creditors' claims in comparison with liquidation, b) minimizing the negative impact of the procedure on the status of the unfortunate debtor and ways to protect the interests of creditors. Resolution methods become ineffective and rarely applicable in practice if they perpetuate a significant imbalance in favor of one of the parties, which persists for a long time without existing economic prerequisites, as participants tend to avoid procedures that are obviously disadvantageous for them. The ineffectiveness of methods of resolving insolvency leads to the formation of uncontrolled processes that significantly reduce the stability of the market, including planning horizons that are very important for the development of society. These processes, which boil down to “black and gray” models of insolvency resolution, create a chaotic redistribution of both insolvency risks and capital between market participants, serve as a fertile ground for the growth of economic crime, contribute to the withdrawal of assets by debtors, conduct an aggressive contract policy, increase mistrust and destabilize relations. between the real and financial sectors of the economy. The subject of this article is the study of the principles of rehabilitation and preventive procedures in the process of resolution of insolvency.

Keywords:regulatory field, insolvency, bankruptcy, legislation, imbalance, insolvency.