Classification and protection of the rights of creditors in bankruptsy cases
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Date
2019-07-01
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Національний авіаційний університет
Abstract
The rights’ protection of creditors is one of the most important tasks of legal regulation and a guarantee
of the stability of public economic order. Indicators of the effectiveness of influence on social relations
is the return of debts to creditors by insolvent debtor. Violation by the Economic Court of a
proceeding on a bankruptcy of a business entity may significantly affect the further economic
activity of its creditors. Each of the creditors has a personal interest in the outcome of the bankruptcy
case, since the effectiveness of the procedures, which is applicable to the debtor, depends on
further satisfaction of the creditors’ demands.
Description
Purpose: the article investigates up-to-date issues of the institute’s development of competitive creditors.
Some types of creditors are classified according to the Code of Bankruptcy Procedures, and the Law of
Ukraine «On Restoration of the Debtor's Solvency or Recognition as a Bankrupt», and their rights to ensure
claims. Methods of research: a set of general and special methods of scientific knowledge – terminological,
logical-semantic, comparative, system-structural, logical-normative. Results: the analysis of the current
situation regarding the illustration of domestic normative sources in accordance with the Code of
Bankruptcy procedures suggests that in order to protect the rights of creditors, the Code enhances their
rights and improves their terms of participation in the bankruptcy procedure. Creditors can now initiate a
bankruptcy case, participate in voting in decision-making. Also, a creditor may demand a court the decision
to terminate the moratorium on its claims regarding the collateral. Key powers in bankruptcy cases are
transferred from the creditors committee to the creditors meeting. If the first meeting of creditors is not
considered to be hold due to the non-arrival of creditors with a sufficient number of votes, it may be possible
to hold other meeting with the reduced quorum. Discussion: the main realities of the domestic legislative
and regulatory framework, which need improvement, are proposed to be divided into separate groups of
registers, current and privileged creditors with their internal delimitation.
Keywords
creditors, code of bankruptcy procedres
Citation
Yuldashev S. Classification and protection of the rights of creditors in bankruptsy cases / S. Yuldashev, V. Kozyreva. // Юридичний вісник. Повітряне і космічне право. – 2019. – №2. – С. 146–152.