The History of Development of the Legal Regulation of Individual Entrepreneursʼ Insolvency (Bankruptcy) in Russia and Germany: Comparative Legal Analysis
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The History of Development of the Legal Regulation of Individual Entrepreneursʼ Insolvency (Bankruptcy) in Russia and Germany: Comparative Legal Analysis
Abstract
PII
S1991-32220000622-3-1
Publication type
Article
Status
Published
Authors
Valeriy Istomin 
Occupation: Senior Researcher, Department of Law
Affiliation: Institute of Philosophy and Law, Ural Branch, Russian Academy of Sciences
Address: Yekaterinburg, Russia
Mata Labazanova
Occupation: Postgraduate Student
Affiliation: Ural Institute of Management, Branch of the Russian Presidential Academy of National Economy and Public Administration
Address: Yekaterinburg, Russia
Edition
Pages
57-68
Abstract

Modern economic relations require the creation of an effective mechanism for terminating the activities of economic entities unable to fulfill their obligations, which allows taking into account the interests of both the debtor and the creditor. Such subjects in many cases are individual entrepreneurs, which makes it necessary to regulate their insolvency, taking into account the specific status of these persons and the specifics of their activities. When developing relevant legal norms, it is of great importance to analyze the history of regulation of bankruptcy relations of individual entrepreneurs in Russia, as well as foreign legislation in the field under study. In this regard, the study of the experience of legal regulation of bankruptcy of individual entrepreneurs in Germany is of undoubted interest, since the relevant legislation has a rich history and is very balanced.

Research methods: formal and logical interpretation, systematic and comparative analysis.

The results of the study. The author analyzes the evolution of the normatively fixed criteria for the bankruptcy of individual entrepreneurs under Russian and German legislation, proposes a periodization of the Russian legislation on the individual entrepreneurs’ bankruptcy, based on the degree of regulation of relations in the field of bankruptcy and the dynamics of changes in the consequences of bankruptcy of an individual entrepreneur. The author came to the conclusion about the expediency of using such provisions of modern German legislation as the procedure of pre-trial settlement of the entity’s debt, the obligation existing for the entrepreneur to repay the remaining part of the debt even after the completion of the insolvency procedure, as well as the possibility of exemption from outstanding debt only if certain conditions are met. The author identifies the problems that the Russian practice of applying legislation may face when introducing these provisions.

Keywords
bankruptcy law, history, Russia, Germany, individual entrepreneur, signs of bankruptcy, pre-trial settlement, release from the remaining debt
Date of publication
26.10.2023
Number of purchasers
10
Views
100
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0.0 (0 votes)
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References



Additional sources and materials

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