Journal of Legal, Ethical and Regulatory Issues (Print ISSN: 1544-0036; Online ISSN: 1544-0044)


Bankruptcy of Individuals: Russian and Foreign Experience

Author(s): Marina V. Vinogradova, Olga S. Kulyamina, Viktoriya A. Vishnyakova, Valeryi A. Oganyan

The article is devoted to the investigation of the problems of bankruptcy of individuals and the possibility of using foreign experience in Russia. The purpose of the work is to study the Russian and foreign experience of legal regulation of the procedures of recognizing an individual as a bankrupt, which is achieved by delving into bankruptcy issues in higher educational establishments and analyzing bankruptcy laws, statistical data, and experience of bankruptcy procedures abroad. The object of the study is the legal regulation of the procedure of the bankruptcy of individuals in Russia and abroad. The subject of the study-is the legal relations arising in the course of bankruptcy procedures for individuals. In the process of research, methods of comparative legal analysis, formal-logical methods, historical and logical methods, the method of interpreting law, methods of system analysis were used. The results of the research showed that bankruptcy procedures in Russia are aimed not at realizing the state's social policy and supporting honest citizens in hard life situations, but in fact acting as a legal debt relief. In contrast, there is an effective foreign practice of recognizing an individual as a bankrupt, which is widely used in developed countries. In a result of the study, the possibilities of practical use of foreign experience in the Russian practice of legal regulation of the procedure for the bankruptcy of individuals are described.

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