Danilova, Zh. V. Types of restructuring and the rights of creditors

Abstract: This article is devoted to the topical issue of regulating the protection of creditor rights during the restructuring process. The article contains an examination of the history of the development of various types of restructuring of legal entities; an analysis of the judicial substance of different types of restructuring; and the impact of restructuring proceedings on creditor rights. The author examines the theoretical views of academics in respect of the definition of substantial forms of restructuring, provides practical examples related to the interpretation of the legislative norms used during the process of restructuring, and analyses methods of legislative control over restructuring. The author also considers academic views of the definition of ‘creditor’ and a definition of those parties who could be considered as creditors in the restructuring process. Doctrinal problems and the application of the law on the rights of creditors in the restructuring of legal entities are also considered in light of the proposed amendments to the Civil Code of the Russian Federation. The article concludes with concrete proposals to improve existing legislation in order to increase the protection of creditors in the restructuring process.

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