Evaluation of Types of Insolvency Systems in Russia Germany and France

Marianna Santalova (), Ivan Furtichev (), Dariko Balahanova () and Svetlana Ivanova ()
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Marianna Santalova: Plekhanov Russian University of Economics Moscow Russia, Postal: RU
Ivan Furtichev: Plekhanov Russian University of Economics Moscow Russia, Postal: RU
Dariko Balahanova: Plekhanov Russian University of Economics Moscow Russia, Postal: RU
Svetlana Ivanova: Plekhanov Russian University of Economics Moscow Russia, Postal: RU

Journal of Advanced Research in Law and Economics, 2017, vol. 8, issue 1, 204-210

Abstract: In the article insolvency systems of Russia France and Germany are evaluated Pro debtor system is aimed at rehabilitation of the enterprise which suffers insolvency rather than liquidation and redistribution of assets in order to repay debts in short term period Under this system enterprise may use a variety of procedures which may help escape receivership procedure France Pro creditor system implies that the debtor is in charge of financial problems of the enterprise and the main aim of this system is not the rehabilitation of the debtor but as fast fulfillment of creditors claims as possible Germany Russian insolvency system seems to be neutral as it provides both tools for saving business and to repay debts and does not give any special preferences to any party

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:srs:jarle0:v:8:y:2017:i:1:p:204-210

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