Evolving of the Bankruptcy Institute in Russia

Abstract

The institute of bankruptcy is considered to be immanent element of the market economy. This article reviews the main periods in the forming of legal framework and implementation of bankruptcy procedures in Russia. It emphasises that in spite of the permanent improvements in legislation and juridical practice, there is no effective model to protect both creditor and debtor to provide normal turnover and stimulate investment activities of Russian enterprises.

Keywords:

Financial Management