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Formation of the institute of insolvency (bankruptcy) in Russia and the evolution of Russian competitive legislation in the XI–XIX century

Formation of the institute of insolvency (bankruptcy) in Russia and the evolution of Russian competitive legislation in the XI–XIX century

Journal of Economic Regulation, , Vol. 9 (no. 2),

The article analyzes the history of formation and development of the institution of insolvency (bankruptcy) in Russia. The author investigates the development of the insolvency law in the pre-revolutionary period from the XI–XIX centuries. In pre-revolutionary Russia, competition law was given sufficient attention. The legislation regulating the institution of insolvency (bankruptcy) in the pre-revolutionary period has passed a long evolution, similar to the development of similar legislation in the countries of Western Europe. However, the first regulatory acts regulating the institution of bankruptcy in Russia appeared much later than in other European countries. Analyzing the legislation of Ancient Russia, the author concludes that there is no detailed regulation of competitive relations in it. And this was due to the fact that the level of economic relations that existed at that time had not yet reached this level. However, as the economy developed in the state, the competition law became more and more relevant. With the development of trade, the cases of bankruptcy of merchants increased more and more, and this became a prerequisite for the creation of a system of insolvency norms, a special competitive charter. The norms regulating the institution of insolvency (bankruptcy) in the Russian pre-revolutionary legislation have undergone a long-term evolution, in many respects similar to the development of legislation in the countries of Western Europe. It was during this period that an insolvency institution appeared in Russia and the development of competition law began. In Russia, as well as in Europe, the development of the institution of insolvency (bankruptcy) was influenced by a foreign element. Since the times of the Russian Truth, having understood the advantages and benefits of trade in general, and international in particular, foreign merchants in Russia have been given various guarantees.

Keywords: insolvency, bankruptcy, debtor, the creditors, court, procedure, legal regulation

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