THE INFLUENCE OF MARTIAL STATUS ON THE BANKRUPTCY PROCEDURES OF ECONOMIC ENTITIES IN UKRAINE

Abstract

Goal: based on the analysis of the functioning of the bankruptcy institute in Ukraine and the influence of martial law on bankruptcy procedures, formulate proposals for improving the legislation regulating insolvency relations. Research methods: general scientific (dialectical, analysis and synthesis) and special research methods (formal-legal, formal-logical, comparative analysis, statistical) were used. Results: the negative consequences of the influence of the military conflict on bankruptcy procedures are identified and outlined. The changes in the legislation on bankruptcy implemented during the martial law period are analyzed. Possible ways to overcome existing problems related to the influence of martial law on bankruptcy procedures are modeled. In particular, the need for state intervention in order to guarantee the rights of creditors and debtors in bankruptcy cases, the expediency of providing assistance to business entities participating in bankruptcy cases that suffered negative consequences during the war, was clarified. Proposals for further improvement of bankruptcy legislation in modern conditions have been put forward. Discussion: despite the positive changes made to the Code of Ukraine on Bankruptcy Procedures with the aim of simplifying the access of business entities and other interested persons to bankruptcy procedures, there are still obstacles to opening or carrying out bankruptcy proceedings; in the period of martial law, the expediency of opening bankruptcy proceedings of enterprises that ensure the functioning of critical infrastructure objects is a cause for concern; the discovery of new problems that make it impossible to carry out bankruptcy procedures defined by law requires a balanced approach to improving legal regulation, in particular, the suspension of bankruptcy proceedings in certain cases until the termination/cancellation of martial law.