THE CORRELATION OF THE CONCEPTS OF "INSOLVENCY" AND "BANKRUPTCY"

Author(s): Zolototrubova N.A.

Rubric: Relevant issues of private law

DOI: 10.21777/2587-9472-2023-1.1-38-43

Release: 2023-1.1 (37)

Pages: 38-43

Keywords: insolvency, bankruptcy, competitive process, differentiation of the concepts of “bankruptcy” and “insolvency”

Annotation: The article presents the result of a study of the legal meaning of such terms as “insolvency” and “bankruptcy” on the basis of existing approaches formulated in the scientific and legal doctrine, namely: the traditional approach (distinguishing the concepts of “insolvency” and “bankruptcy” and referring them to different legal areas); the approach according to which these concepts are interconnected and correlated as a cause (insolvency) and a consequence (bankruptcy); the legislative approach. A comparative analysis of the definitions of the thesaurus under study is carried out according to the scientific and theoretical position of specialists and researchers in the field of domestic law. The issue is raised on the expediency of differentiating the concepts of “insolvency” and “bankruptcy” in relation to legal practice. The methodology of analysis includes several preferential research methods, namely: comparative, historical, dogmatic. Based on the analyzed theoretical knowledge, as well as using those as the main argument, a conclusion was stated that accumulates modern approaches to the definition and differentiation of the terms “insolvency” and “bankruptcy”.

Bibliography: Zolototrubova N.A. THE CORRELATION OF THE CONCEPTS OF "INSOLVENCY" AND "BANKRUPTCY" // Journal of Legal Sciences. – 2023. – № 1.1 (37). – С. 38-43. doi: 10.21777/2587-9472-2023-1.1-38-43