ON CIVIL LAW EFFECTS OF INSOLVENCY OF GROUP OF COMPANIES
( Pp. 54-57)

Purpose. The aim of this work is to study the institute of insolvency of a group of companies, unknown to the Russian legal tradition. The insolvency (bankruptcy) institution itself is new to the Russian legal tradition and is currently at the stage of formation and active development, which reflects a change in the realities of the economic turnover, which led to the fact that bankruptcy became a logical stage in the development of a legal entity. Meanwhile, the peculiarities of the insolvency of a group of companies remain unresolved in Russian law, which in this respect is based on the classical principles of corporate law: the principles of independence of a legal entity and the limited liability of participants for the debts of the company. Under such circumstances, the study of approaches by foreign law to the problem of regulating the bankruptcy of business groups is particularly relevant. The main research was the work of such foreign experts as I. Mevorach, B. Wessels, I. Blumberg. Findings. According to the author, the principle of limited liability, which arose during the period of the existence of simple corporations as a means of stimulating the investment of individuals, should be applied in accordance with equity considerations and the goals of this institution, as indicated by current trends in the regulation of bankruptcy of business groups. In the context of bankruptcy of a group of companies, the classic principles of limited liability and independence of a legal entity are weakened, for example, the institution of material consolidation, which is a legal remedy for creditors that allows courts to consider their assets as a single property mass when opening bankruptcy proceedings for several members of an entrepreneurial group used in the interests of all creditors of the group. Originality / value. The theoretical significance of the study lies in the justification of the provisions developing the theory of limited liability of corporation participants, its relationship with the interests of creditors in the bankruptcy of a group of companies. The practical significance of the thesis results lies in the possibility of using the findings and recommendations in the process of law enforcement of the courts, in drafting contracts, for educational purposes in the process of teaching courses in civil law.

Akhmetov A.I., (2019), ON CIVIL LAW EFFECTS OF INSOLVENCY OF GROUP OF COMPANIES. Gaps in Russian Legislation, 5 => 54-57.

Irit Mevorach. Insolvency within Multinational Enterprise Groups (Oxford University Press, Oxford 2009), 360;
Ph. I. Blumberg, Limited Liability and Corporate Groups, 11 J.CORP.L. 575;
B. Wessels. The Ongoing Struggle of Multinational Groups of Companies under the EC Insolvency Regulation, 2009 European Company Law 6, № 4, 177.