Prospects for the Development of Legal Regulation of Debt Financing of Investment Activities


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Abstract

The purpose of the research. At present, it is necessary to state that many debt financing instruments that have successfully proven themselves abroad have not been reflected in domestic legislation, which needs to be rethought. The purpose of the study is to determine debt financing and its main characteristics, to classify the instruments and to identify gaps in legal regulation. Results. As a result of the research, the author identifies repayment, maturity and secured nature as the main characteristics of debt financing. The author attributes a scheme to minimize risks, in which the lender's responsibility for the success of the investment project is practically absent, as the key to understanding the principles and nature of debt financing. Debt financing is a framework concept and appears in the law through different mechanisms and their combinations, so the author classifies debt financing instruments on various grounds, describes the applicable ways of allocating creditors ' risks, indicates the main gaps in the regulation of debt financing instruments and vectors for further development.

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About the authors

Liliya А. Vinitskaya

Lomonosov Moscow State University

Email: liliya.vinitskaya@mail.ru
postgraduate student of the Department of Business Law, Faculty of Law Moscow, Russian Federation

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