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LEGISLATION ON INSOLVENCY (BANKRUPTCY) INDIVIDUAL ENTREPRENEURS: CONCEPT, EVOLUTION, LEGAL NATURE AND DEVELOPMENT PROSPECTS
 
PIIS102694520029081-0-1
DOI10.31857/S102694520029081-0
Publication type Article
Status Approved
Authors
Valeriy Istomin 
Occupation: Senior Research Fellow, Department of Low
Affiliation: Institute of Philosophy and Law, Ural Branch, Russian Academy of Sciences
Address: 16 Sofia Kovalevskaya street, 620108,Yekaterinburg, Russian Federation
Abstract

Abstract: modern economic relations objectively need legal regulation of the procedure for termination of the activities of those participants in the turnover who were unable to continue it due to the deterioration of their property status. Due to the widespread participation of individual entrepreneurs in economic activities, they may also be among the insolvent entities. These circumstances necessitate the study of the features of insolvency (bankruptcy) of individual entrepreneurs, including in the context of the formation of the practice of applying the relevant legislation. Based on the analysis of the specifics of the legal status of an individual entrepreneur as a participant in property turnover, the purpose of legal regulation of insolvency (bankruptcy) relations of entrepreneurs, it is concluded that it is possible to single out an independent institution of insolvency (bankruptcy) of an individual entrepreneur, and some of its principles are determined. When identifying the industry affiliation and place of this institution in the Russian legal system, it is defined as an arbitration procedural legal institution. The peculiarities of the legal status of an individual entrepreneur also necessitate the consolidation of slightly different approaches to regulating the insolvency of these entities compared to those that should be applied to ordinary citizens. The author comes to the conclusion that it is necessary to consolidate as a general rule the obligation of an entrepreneur to repay the outstanding debt remaining after the end of bankruptcy proceedings, as well as to establish the possibility of being released from this obligation only on a declaratory basis.

KeywordsKey words: insolvency (bankruptcy), legal regulation, individual entrepreneur, causes of bankruptcy, criteria of bankruptcy, purpose of regulation, debt relief, legal institution, industry affiliation, principles.
Received12.12.2023
Number of characters34819
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