Restructuring of a Physical Person’s Debt in Bankruptcy Case: Features of the Procedure
The article considers features of carrying out a procedure of restructuring a debt of a citizen who is not an individual entrepreneur in bankruptcy case. Purpose: to study the rehabilitation nature of the structuring procedure based on distinguishing its stages. Methods: analytical and system methods, comparative and legal, technical and legal methods are used. Results: legal consequences of introducing the procedure of restructuring a debtor’s debt allow him to stabilize his financial position and to save his property to meet creditors’ requirements. Actions of a financial manager, first of all, are aimed at providing creditors with a right to take part in the case of the debtor’s bankruptcy. In their turn, creditors are recommended to act with due care and discretion to keep an opportunity to participate in settling the debtor’s legal destiny. The law has additional provisions protecting rights of creditors of the first and second order, and also creditors’ rights referring to the current liabilities, the debt to which shall be repaid before the approval of the debt restructuring plan. Conclusions: having introduced the institute of citizens’ debts restructuring, the Russian legislation legally enables debtors to pay debts during a long term and to keep their property at the same time. Giving an opportunity to choose a bankruptcy procedure applied to debtorsconsumers depending on their liabilities, income and size of debts, the legislator purposes to protect the debtor from loss of property and from psychological stress, thereby strengthening social and economic infrastructure.
The paper analyses how the individuals' deposits influences the resources of Russian banks. We show that the depositors panic in the crisis has a serious effect on stability of both bank and national bank system. We show the tendencies how the volume and structure of individuals' deposits change; how to avoid the rash of withdrawals by individual depositors; and how the resources of Russian banks shrank because of such withdrawals happened in the period of the crisis. We also present our assessment of how the resources of Russian banks reduced because of the rash of withdrawals in the crisis.
The author analyses artickes 195, 196 and 197 of the Russian Federation Criminal Code, devoted to illegal actions that accompany a debtor's bankruptcy, and cocludes that these articles are not sufficient to combat all fraudulent actions in this sphere. The application of articles 159, 160 and 303 of the Criminal Code also doesn't solve the existing problems. That is why the author proposes to penalize actions on the application of knowingly non-existing claims in bankruptcy.
Problems: 1) complexities of an estimation of legitimacy of actions of heads of the credit organization («Risk business»); 2) high degree blanket norms of criminal law; 3) absence of an accurate regulation of the civil-law mechanisms directed on protection of interests of creditors of the credit organizations, and, as consequence, 4) impossibility of an establishment of special norms it is criminally-legal protection right creditors of the credit organizations, in view of accecorn the nature criminally-rules of law.
The implementation of the uniform approach to the legal regulation of transnational bankruptcies is problematic in several ways, such as differences in national bankruptcy legislayion and lack of recognition of of other state`s authorities acts. Nevertheless, this chapter shows that the difficulties can can be overcame with the proper i,plementation of bankruptcy procedures.
Proceedings of the 30th International Business Information Management Association Conference
Vision 2020: Sustainable Economic development, Innovation Management, and Global Growth
The author touches upon questions of correspondence between the Civil Code of the Russian Federation rules in their amended edition and the Federal Law of 26 October 2002 # 127-FZ “On Insolvency (Bankruptcy)”. Such issues as the order of a insolvency administrator’s appointment in the procedures of compulsory corporate liquidation and reorganization, establishing creditors’ claims based on subscription agreements, the effect of a court bail in bankruptcy are considered in the article.
Article represents research results of professionally significant grade of financial managers. Research results are compared with behavioral competence norm NCB SOVNET 3.0. Four types of managers are recognized empirically.
This book is devoted to the international dispute resolution in various contexts.
The article is devoted to a particular form of freedom of assembly — the right to counter-demonstrate. The author underlines the value of this right as an element of democratic society, but also acknowledges the risk of violent actions among participants of opposing demonstrations. Due to this risk, the government may adopt adequate measures restricting the right to counter-demonstrate, certain types of which are analyzed in this paper.
Development of standards of international controllability is reviewed in the article. Institutional approach is applied to development of international legal regime of Energy Charter. Definition of controllability is connected to development of international standards of dispute settlement, which are described in the article in detail. In connection with controllability, Russian interest, defense of investment in European Union and ecological investment encouragement, is reviewed in the article.
мировое управление и управляемость, Мировая экономика, международное экономическое право, энергетическая хартия, International control and controllability, International economics, international economic law, Energy Charter
международное частное право; недвижимость; ; школа бартолистов; бартолисты; теория статутов; статуарная теория/