TERMINATION OF THE ECONOMIC PERSONALITY OF A JOINT-STOCK COMPANY AS A RESULT OF BANKRUPTCY
DOI:
https://doi.org/10.15407/econlaw.2019.03.024Keywords:
joint-stock company, economic personality, bankruptcy, Bankruptcy Code of Ukraine, liquidation, liquidation procedureAbstract
The article is devoted to the study of the problem of termination of the economic personality of a joint-stock company as a result of bankruptcy. In the article, the author analyzes the legal nature of the termination of the economic personality of a joint stock company as a result of bankruptcy. Particular attention is paid to the study of problems associated with the liquidation of joint-stock companies — bankrupt. Studying the elements of the legal composition that mediates the termination of the economic legal personality of joint-stock companies due to bankruptcy, the author analyzes the prerequisites for initiating a bankruptcy procedure of a joint-stock company, the effect of the adoption by a commercial court of a decision on declaring a joint-stock company bankrupt and the opening of a liquidation procedure on its economic personality, and the specifics of removing shares of a bankrupt joint-stock company from a economic turnover, the formation of liquidation mas joint-stock company systems, satisfaction of creditors’ requirements, procedure for registration actions. The author suggests the further development of the legal regulation of the termination of the economic personality of joint-stock companies due to bankruptcy in the direction of the normative consolidation of a differentiated approach to determining the duration of the liquidation procedure, reducing the time for settlement of debts (including by reducing the number of appeals), transparency of the liquidation procedure, cheaper bankruptcy procedures, and ensuring balance of interests of both debtors and creditors, functions of control over the actions of the liquidator self-regulating organization, improve the efficiency of bankruptcy procedures, ensuring the sale of property at the highest price, reducing the corruption component.
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