MOVE FROM REPRESSION TO PROTECTION OF DEBTOR, FROM PUNISHMENT TO REHABILITATION

Abstract

This article considers features of bankruptcy regime of Russia, whether it is pro-debtor or pro-creditor. It also considers common factors that have an impact on implementation of Russian legislation in the field of insolvency (bankruptcy). The article explores possible ways of reform of the legislation to provide more complete balance of interests in the bankruptcy cases and prevent the liquidation of potentially solvent debtors that are suffering temporary financial distress.

Keywords

• balance of interests
• bankruptcy
• debtor
• creditor
• insolvency
• rehabilitation
• reorganization