Security Mechanism for Exercising the Rights and Legal Interests of the Debtor in the Process of Insolvency (Bankruptcy): Main Provisions

To date, the institution of insolvency (bankruptcy) has begun to undergo changes in terms of the development of a rehabilitation function within the framework of out-of-court bankruptcy of citizens, the anti-sanction potential of the moratorium mechanism on filing an application for declaring a debtor bankrupt. In order to fully understand the rehabilitation properties of bankruptcy, it is necessary to consider the institution from the point of view of its ability to ensure the rights of subjects, in particular, debtors. In this article, the author presents the content of the concept of a security mechanism for the implementation of the rights and legitimate interests of a debtor declared bankrupt, using the example of organizations. The author comes to the conclusion that such a mechanism makes it possible to apply the norms of the Bankruptcy Law from the standpoint of the need for rehabilitation, guaranteeing and ensuring the rights of the debtor.

insolvency, bankruptcy, realization of rights, debtor, security, legal guarantees, security mechanism