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Bankruptcy of legal entities in Russia is a state-regulated procedure that should help either save the company or properly end its activities. The key is to act in a timely manner, collect the necessary documents correctly, trust the professionals, and remember that the goal is not just to get rid of debts, but to do so in a fair, legal, and cost-effective manner for all parties involved. This article focuses on the key features and challenges of the institution of bankruptcy of legal entities in the Russian Federation. It analyzes the evolution of insolvency legislation, its conceptual foundations, and the specifics of implementing the main bankruptcy procedures. Special attention is paid to the central role of the arbitration manager, mechanisms for protecting the interests of creditors, such as subsidiary liability and contestation of transactions, as well as the emerging practical difficulties and current trends. The economic and legal aspects that define the uniqueness of the Russian model are considered.
bankruptcy, legal entity, insolvency, arbitration manager, subsidiary liability, contestation of transactions, creditors, debtor, economic insolvency, legal regulation
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