The Method of Comparative Law in the Analysis of Debtor Rehabilitation Models

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Abstract

The purpose of the study is to identify the typology of the legal systems of the world depending on the models of rehabilitation procedures in case of bankruptcy. To do this, the author used a set of methodological approaches. In particular, this is a method of comparative law for identifying general and special features of the legal regulation of bankruptcy. The formal-logical method and institutional theory also gained fundamental importance. Conclusions: The main typology of legal systems for debtor and pro-creditor legal models demonstrates different proportions of guarantees for participants in bankruptcy. In the debtor model, there is an unguaranteed restoration of the debtor's economic position. Its rehabilitation takes a long time, which reduces the cost of the business and increases the risks for counterparties. In legal systems with a pro-creditor model, rehabilitation procedures guarantee the preservation of the value of the debtor's assets. This allows you to satisfy the requirements of creditors, and the sold property remains in the market.

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About the authors

Vladimir V. Efremov

Peoples’ Friendship University of Russia named after Patrice Lumumba

Author for correspondence.
Email: vladimir.v.efremov@gmail.com

graduate student of the Department of Civil Law and Procedure and Private International Law of the Law Institute

Russian Federation, Moscow

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