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Prospects of the Extrajudicial Settlement by Enforcement Authorities of Bankruptcy Procedures

Author

Listed:
  • Elena Valeryevna Vinogradova*

    (The Institute of state and law of the RAS, Znamenka Str., 10, Moscow, 119019, Russia)

  • Svetlana Ibragimovna Chelakhsaeva

    (RUDN University, Miklukho-Maklay Str., 6, Moscow, 117198, Russia)

  • Denis Anatolievich Kratiuk

    (RUDN University, Miklukho-Maklay Str., 6, Moscow, 117198, Russia)

  • Adelina Viktorovna Oganezova

    (RUDN University, Miklukho-Maklay Str., 6, Moscow, 117198, Russia)

  • Olga Yevgenievna Lebedeva

    (Institute for Tourism and Hospitality, Kronstadt Blvd., 32a, Moscow, 125438, Russia)

Abstract

This article is concerned with prospects of the legal regulation of bankruptcy procedures. It has been established that the debtor’s management intending to rehabilitate its enterprise can be prosecuted if it submits a bankruptcy petition in advance. To initiate a procedure for declaring bankruptcy, a debtor is obliged to prove the existing circumstances that testify their future inability to pay off monetary obligations to creditors and make mandatory payments to budget and off-budget funds. Successful rehabilitation and circumstances indicating the impossibility to fulfil monetary obligations in the future directly depend on the time left before the debtor’s insolvency. The earlier the debtor’s management foresees an impending bankruptcy, the greater are the chances that the company’s solvency will be restored.

Suggested Citation

  • Elena Valeryevna Vinogradova* & Svetlana Ibragimovna Chelakhsaeva & Denis Anatolievich Kratiuk & Adelina Viktorovna Oganezova & Olga Yevgenievna Lebedeva, 2018. "Prospects of the Extrajudicial Settlement by Enforcement Authorities of Bankruptcy Procedures," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 369-373:3.
    • Handle: RePEc:arp:tjssrr:2018:p:369-373
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    References listed on IDEAS

    as
    1. Elena VINOGRADOVA & Maria MUKHLYNINA & Dmitry MUKHLYNIN & Natalia SOLOVYEVA & Olga LEBEDEVA, 2018. "Economic and Legal Aspects of Environmental Safety," Journal of Advanced Research in Management, ASERS Publishing, vol. 9(1), pages 144-150.
    2. Maria MUKHLYNINA & Elena SHISHANOVA & Andrey NIKIFOROV & Natalya RYAZANOVA & Konstantyn LEBEDEV, 2018. "Economic and Legal Aspects of Environmental Protection when using Artificial Water Bodies," Journal of Advanced Research in Management, ASERS Publishing, vol. 9(3), pages 633-638.
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