Protection of Natural Persons with Regard to Extrajudicial Bankruptcy Procedure from Unfair Actions of Creditors in the New Law
- Authors: Zagaynov M.R.1
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Affiliations:
- Financial University under the Government of the Russian Federation
- Issue: Vol 16, No 6 (2023)
- Pages: 63-67
- Section: Private Law (Civil) Sciences
- URL: https://journals.eco-vector.com/2072-3164/article/view/623572
- EDN: https://elibrary.ru/JNAKYZ
- ID: 623572
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Abstract
Purpose of the study: The article draws a comparison of protection of natural persons with regard to extrajudicial bankruptcy procedure from unfair actions of creditors in the existing legislation and in the new wording of the law. The purpose of the study is the establishment and identification of wide-spread ways of abuse on the part of creditors in case of extrajudicial bankruptcy procedure. Also an assessment of the new wording of the law is given from the standpoint of protection of debtors’ interests.
Conclusions: As a result of the study the author arrives at the conclusion that the new wording of the section on the extrajudicial bankruptcy of a citizen of the Federal Law N 127-FZ "On Insolvency (Bankruptcy)” of 26.10.2002 is more oriented towards protection of debtors, whereas the former wording was oriented towards protection of creditors’interests. The author makes the conclusion that such an approach to the write-off of debts will lead to abuse on the part of debtors.
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About the authors
Mikhail R. Zagaynov
Financial University under the Government of the Russian Federation
Author for correspondence.
Email: ni22nn@mail.ru
ORCID iD: 0000-0002-8913-849X
Cand.Sci.(Econ.), Senior Lecturer, Departament of legal regulation of economic activity, faculty of law
Russian Federation, MoscowReferences
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