Full text of the paper:
Collected Papers of the Faculty of Law, University of Novi Sad
2019, vol. LIII, No. 4, pp. 1333–1346
Language of the paper: Russian
Original scientific paper
udk: 347.736:347.440.82(4+470)
doi: 10.5937/zrpfns53-24757
Author:
Larisa Mastilovič, Junior Research Fellow
Saint Petersburg State University
Faculty of Law
larisa.mastilovic@mail.ru
Abstract:
In the situation when before insolvency due time there are already signs of economic crisis and if there is consent of the majority of creditors, debtors are bona fide and economical viable, debtors have legal possibility to initiate preventive restructuring procedure, the consequences of which will be extended to dessenting creditors . When the possibility of restructure is announced there would be differences among creditors according to various estimates of the economic position of the debtor. So the will,decision of those who have the majority of debt should be obligatory to all. It Will be the only way to get common legal will of all creditors and the debtor, However, the European legislation in exceptional cases presupposes the ability to approve the preventive restucturing procedure of the debtor by the courts in the absence of consent of the majority of creditors. At the same time, without the consent of the debtor (on the initiative of the majority of creditors) preventive rehabilitation cannot be started.
Keywords:
bankruptcy prevention, Financial reabilitation of the debtor, subsidiary liability, preventive rehabilitation.