The article is devoted to the study of the problems of forming the branch of law and legislation on bankruptcy (insolvency).

The purpose of the article is to reveal the characteristic features and signs of the law of bankruptcy (insolvency) and the formulation of the corresponding concept, as well as the justification of the formation of the branch of law and legislation on bankruptcy (insolvency).

The author emphasized that after previous scientific studies, where the law of insolvency (bankruptcy) was defined as a sub-branch of commercial law, the legislation on bankruptcy changed significantly, which led to the expansion of its scope.

It is substantiated that the codification of bankruptcy legislation also led to changes in the content of the scientific doctrine of insolvency (bankruptcy) law as a sub-branch of a commercial law, in particular in matters of subject, principles and methods of legal regulation of bankruptcy (insolvency) relations.

It is proved that the existence of the matter, principles, methods of legal regulation of bankruptcy relations with the updated content, as well as the codification act – the Code of Ukraine on bankruptcy procedures, in totality shows that the law of bankruptcy (insolvency) has the status of a complex branch of law.

Signs of bankruptcy (insolvency) law have been identified. This is a complex branch of law that: combines substantive and procedural law norms of other branches of law; regulates public relations related to the insolvency of legal entities and individuals; provides for the assignment by the debtor for the benefit of all his creditors of all his property to the court, which in the universal proceedings, with the help of the arbitration administration, supervises the joint property and disposes of it; imperative and dispositive principles are applied to participants in legal relations in order to achieve a common interest; aimed at full or maximum possible fulfillment of established monetary obligations.

The concept of bankruptcy (insolvency) law is formulated as a complex branch of law that combines substantive and procedural norms of other branches of law, regulates social relationsrelated to the insolvency of legal entities and individuals, where in universal legal proceedings using imperative and dispositive principles to the participants of legal relationship in order to achieve common interest, the court, with the help of an arbitration administrator, supervises all the debtor’s property and orders with the aim of full or maximum possible fulfillment of established monetary claims of creditors.

A new structure of the Code of Ukraine on bankruptcy procedures was proposed, where the fourth book is devoted to cross-border bankruptcy. In the general part, separate sections will refer, in particular, to financial restructuring, pre-trial sanitation, as well as procedural issues of bankruptcy (insolvency).

The separation of another code, called the “Code on Insolvency of Individuals” or “Code on Consumer Bankruptcy of Individuals” from the Code of Ukraine on bankruptcy procedures, has been proven.

The necessity to include provisions on bankruptcy in the Constitution of Ukraine is argued, since these relations have deeply penetrated into all spheres of the economy and social life of the country. For this purpose, it is proposed to add the words: “legal regime of bankruptcy (insolvency)” to paragraph 8 part 1 of Article 92 of the Constitution of Ukraine.

The existence of the branch of legislation on bankruptcy (insolvency) as a union of interrelated legislative acts, including codified ones, which have a common subject of legal regulation of relations related to the insolvency of legal entities is substantiated.

Bibliography

Authored books

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Journal articles

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10. Poliakov R ‘Pryntsyp vsespilnosti yak osnovopolozhnyi (bazysnyi) pryntsyp vidnosyn bankrutstva (neplatospromozhnosti)’ [2023] 10 Yurydychnyi naukovyi elektronnyi zhurnal <https://doi.org/10.32782/2524-0374/2023-10/47>.

11. Poliakov R, ‘Sutnist vidnosyn bankrutstva (neplatospromozhnosti)’ (2023) 2 Aktualni problemy vitchyznianoi yurysprudentsii 71–2.

12. Radzyviliuk V, ‘Metod, pryntsypy ta funktsii prava bankrutstva (nespromozhnosti)’ (2010) 82 Visnyk Kyivskoho natsionalnoho universytetu imeni Tarasa Shevchenka Yurydychni nauky 23–5.

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Theses

14. Poliakov B, ‘Pravovi problemy rehuliuvannia nespromozhnosti (bankrutstva)’ (avtoref dys kand yuryd nauk 2003).