Ukrainian Insolvency Law: Retrospective And Current Issues
Ukrainian Insolvency Law: Retrospective And Current Issues

Summary/Abstract: The article is devoted to the historical and current issues of Ukrainian insolvency law. The author states that the insolvency law after 1991 passed three stages: 1) 1991 to 1996 – the replacement of soviet legislation in an independent state and the adoption of the Law of Ukraine “On Restoring Debtor’s Solvency or Declaring a Debtor Bankrupt”; 2) 1996 to 2018 – the influence of European doctrine of insolvency law based on restoration of the debtor’s solvency; 3) 2018 – the current stage of insolvency law based on the Ukrainian Code of Bankruptcy Procedures. It is emphasized that the new Ukrainian Code of Bankruptcy Procedures is a compromise between “pro-creditor” European law and US law, which protects the debtor as much as possible by allowing him to restore solvency (“fresh start”) quickly.

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