LEGAL REGULATION OF THE LIQUIDATION PROCEDURE IN THE CASE OF BANKRUPTCY OF LEGAL ENTITIES

Abstract

This article discusses the concept and essence of legal entities for their liquidation. The opinions of domestic scholars on the concept of legal entities, the concept of liquidation procedure, the principles of liquidation procedure, the possibility of improving this institute are also analyzed. The importance of the right to entrepreneurial activity of citizens of Ukraine enshrined in the Constitution of Ukraine, its protection at the state level, the importance of preventing the state from the status of a bankrupt who initiates liquidation proceedings was highlighted. Attention is focused on the provisions of the Civil Code of Ukraine and the Code of Bankruptcy Procedures of Ukraine on liquidation proceedings in bankruptcy cases of legal entities. Here are some examples of bankruptcy case law that reflect the practical circumstances of liquidation proceedings. Normative inconsistencies in the current legislation were found, their analysis was carried out and proposals for their improvement were proposed. First of all, attention is drawn to the need for the liquidator to constantly submit applications to the court on various issues, according to which it is proposed to develop a separate judicial department for liquidation proceedings in the commercial court, or the position of judge on liquidation proceedings. It is also proposed to consolidate the liability of the liquidator and persons who obstruct the liquidation procedure in the case in the form of a fine, which will increase in proportion to exceeding the liquidation procedure due to intentional fault of the liquidator or others. The focus is on the possibility to give the company a second chance and make the liquidation procedure the final version of the impossibility of restoring the debtor’s solvency, which will be possible due to amendments to the Bankruptcy Code of Ukraine.