Theoretical aspects of cross-border insolvency

Zhovtonozhko Maxim Alekseevich, Belyaev Daniil Alexandrovich

The article is devoted to the analysis of theoretical approaches to the definition of cross-border bankruptcy. Until now, the contradictions between the two main conceptual approaches - universalistic and territorial to cross-border insolvency - have not been resolved. In this regard, an average approach was developed - a modified universalism, on the basis of which the main legal documents in the field of cross-border insolvency were created. However, even this averaged approach faces criticism of the appropriateness of its use and application. The article discusses the relationship of these concepts and concludes on the appropriateness of their application.

Keywords:cross-border bankruptcy, universalism, territorialism, modified universalism, lex fori concursus.