Features of Functioning of the Institution of Arbitration Management in a Crisis: The Regional Aspect

Abstract

Introduction. The relevance of the study consists in expanding theoretical developments in the field of economic sociology, in particular, in identifying the features of functioning of the institution of arbitration management in the Russian Federation in the 2020 crisis. The purpose of the study is to reveal the features of implementation of the powers of bankruptcy commissioners, as well as to scrutinize the socio-economic status of the professional group of bankruptcy commissioners in the crisis period of March – April 2020. Materials and Methods. In the course of the study, a secondary analysis of the latest Russian and foreign regulatory and legal framework governing the activities of the institution of bankruptcy during the crisis period of the first half of 2020 was carried out. In particular, statistics of insolvency procedures in 2018–2020, as well as draft legal acts related to bankruptcy were analyzed in the regional context and in regard to change in the status of the social and professional group of bankruptcy commissioners. Results. The factors influencing the functioning of the institution of arbitration management during the crisis period have been identified, the key ones of which are the lack of state support for specialists in the field of insolvency during a crisis period; controversial legislative initiatives; a steady increase in the conflict nature of insolvency procedures; high risk of bringing bankruptcy commissioners to justice without proper income growth; fragmentation of the professional community of bankruptcy commissioners. Discussion and Conclusion. The performed analysis made it possible to conclude that the introduction of a moratorium on bankruptcy, the lack of state support for the industry, as well as significant difficulties in exercising the powers of bankruptcy commissioners in the context of the crisis measures in the first half of 2020 had a significant negative impact on the socio-economic situation of the professional group of bankruptcy commissioners. Factors in the formation of the professional status of bankruptcy commissioners in the post-crisis period are the relevant issues for further research. The results of the study may be useful to scientists specializing in Economics and Law, to students attending anti-crisis management programs, as well as to specialists in the field of insolvency.

Keywords

• bankruptcy
• arbitration management
• bankruptcy commissioner
• bankruptcy proceedings
• economic crisis