MAKING OF A METHODOLOGY FOR DEVELOPING A DEBT RESTRUCTURING PLAN AS A FACTOR IN INCREASING THE EFFICIENCY OF CITIZEN BANKRUPTCY PROCEDURES
Eugene Kochetkov ()
Strategic decisions and risk management, 2018, issue 4
The practice of bankruptcy procedures for citizens in Russia showed theirÂ lack of effectiveness, which is due, among other things, the uncertainty ofÂ legal regulation of the issues of restoring their solvency. Objectives of theÂ article are formation of a logically and scientifically based methodologyÂ for developing a plan for the restoration of citizensâ€™ solvency, takingÂ into account the financial and economic features of citizensâ€™ activitiesÂ and the requirements of legislation, theoretical substantiation of legalÂ and economic criteria for the restoration of citizensâ€™ solvency in order toÂ improve the efficiency of bankruptcy rehabilitation procedures.According to the results of the study at the theoretical level authorÂ determinedthe essence of the restoration of the solvency of the citizendebtor,Â which allowed to formalize the legal and economic criteria for the restoration of their solvency. A methodology has been developedÂ for developing a plan for the restoration of citizens' solvency. AuthorÂ formulated proposals to improve the legal regulation of bankruptcyÂ procedures of citizens, taking into account their financial and economicÂ features.It was concluded that the plan to restore the solvency of citizensÂ can be considered as a form of a contract between creditors and a debtor, significantly reducing the costs of opportunism and increasing theÂ efficiency of bankruptcy procedures. The obtained results are of practicalÂ importance for the regulator and participants in bankruptcy proceedings with respect to citizens, as well as theoretical significance in terms ofÂ helping to contribute to the development of the theory of solvency ofÂ citizens.
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Persistent link: https://EconPapers.repec.org/RePEc:abw:journl:y:2018:id:801
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