THE INSTITUTE OF BUNKRUPTCY AS THE UNIVERSAL SYSTEM FOR REGULATION INSOLVENCY RELATIONS
DOI:
https://doi.org/10.15407/econlaw.2016.01.033Keywords:
bankruptcy, insolvency law, the debtor, the proceedings, reorganization, settlementAbstract
We studied the insolvency laws of countries such as Canada, Britain, France, Italy and Japan in terms of its versatility and flexibility, as an indicator of an efficient system of bankruptcy. It was established that the legislation of those countries formed of different mechanisms of initiation of the proceedings and the use of reorganization procedures, depending on the value of the debtor and its place in the economy. It was determined that in Ukraine size of indisputable monetary claims should be based on the classification of business entities under Art. 55 of the Commercial Code of Ukraine.
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